Nevada Administrative Code
Chapter 372 - Sales and Use Taxes
ADMINISTRATION OF TAX
Section 372.780 - Deduction for property resold after being purchased for purpose other than resale

Universal Citation: NV Admin Code 372.780

Current through December 12, 2024

A retailer who takes a deduction pursuant to section 12 of chapter 397, Statutes of Nevada 1955, (NRS 372.025) for property which was resold after being purchased for a purpose other than resale shall:

1. Hold a valid permit issued pursuant to NRS 372.135;

2. Take the deduction on the retailer's tax return which covers the period in which he or she resold the property; and

3. Maintain complete records which are adequate to substantiate the deduction.

Tax Comm'n, Combined Sales and Use Tax Ruling part No. 68, eff. 6-14-68

NRS 360.090, 372.025, 372.725

Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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