Nevada Administrative Code
Chapter 372 - Sales and Use Taxes
APPLICATION OF TAX
Section 372.040 - Purchases of capital goods: Aggregation to defer payment of tax
Universal Citation: NV Admin Code 372.040
Current through September 16, 2024
1. The periods for which related purchases of capital goods made to expand a business, establish a new business, or renovate or replace capital equipment which may be aggregated to defer payment of the tax are:
(a) Six months, if the purchases have
a total sales price of at least $100,000 but less than $600,000.
(b) One year, if the purchases have a total
sales price of at least $600,000.
2. The Department may extend the initial deferral period if the taxpayer requests an extension of time before the expiration of that period. The request must:
(a) Be in writing;
(b) Include the date on which the project is
to be completed; and
(c) Include
evidence that the purchases to be deferred are within the scope of the program
approved by the Division of Economic Development.
3. Payments of deferred taxes must be accompanied by forms provided by the Commission.
Added to NAC by Tax Comm'n, eff. 9-13-85; A by Dep't of Taxation, 10-18-89
NRS 360.090, 372.397, 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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