Nevada Administrative Code
Chapter 372 - Sales and Use Taxes
APPLICATION OF TAX
Section 372.120 - Foreclosure sales
Universal Citation: NV Admin Code 372.120
Current through September 16, 2024
1. The tax does not apply to sales of tangible personal property at public auction pursuant to the provisions of a chattel mortgage, if:
(a) The
sale is made pursuant to a court decree of foreclosure by an officer appointed
by the court for that purpose; or
(b) The property is bid in by the
mortgagee.
2. The tax applies to other foreclosure sales and to sales by a person who has bid in the property to the same extent as to other sales.
Tax Comm'n, Combined Sales and Use Tax Ruling No. 24, eff. 3-1-68
NRS 360.090, 372.725
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