Nevada Administrative Code
Chapter 706 - Motor Carriers
UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES
Accounts
Section 706.401959 - Fixed assets: Account for shop and garage equipment

Universal Citation: NV Admin Code 706.401959

Current through December 31, 2024

1. The account for shop and garage equipment must include the cost of all hoists, electric motors, lathes, drill presses, air compressor equipment, tire changing equipment, wheel alignment equipment, welding sets, work benches and expensive special purpose tools that cost over $5,000.

2. The account must not include hand or other portable tools that:

(a) Are likely to be lost or stolen;

(b) Have a value of $5,000 or less; or

(c) Have a short life or period of use.

Such items must be appropriately charged to the account for repairs and maintenance described in subsection 6 of NAC 706.401982 or the account for miscellaneous shop and garage expenses described in subsection 11 of NAC 706.401984.

Added to NAC by Transportation Serv. Auth. by R040-02, eff. 9-20-2002

NRS 706.167, 706.171

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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