Nac: Chapter 374 - Local School Support Tax

Link to law: http://www.leg.state.nv.us/nac/NAC-374.html
Published: 2015

[Rev. 1/9/2014 10:22:38 AM]

[NAC-374 Revised Date: 1-14]

CHAPTER 374 - LOCAL SCHOOL SUPPORT TAX

374.005            Trade-in allowances.

 

 

 

REVISER’S NOTE.

      Regulations which apply to the sales and use tax

levied under chapter 372 of NRS apply

also to the local school support tax and the city-county relief tax levied

under chapters 374 and 377 of NRS, respectively. These

regulations can be found in chapter 372 of

NAC.

 

      NAC 374.005  Trade-in allowances. (NRS 360.090, 374.030, 374.070, 374.725)  The amount upon which the

tax is computed includes any allowance for property which is traded in. If the

Nevada Tax Commission finds that an allowance stated in an agreement is less

than the fair market value, the allowance actually agreed upon shall be deemed

the market value.

     [Tax Comm’n, Combined Sales and Use Tax Ruling No. 38,

eff. 3-1-68]—(Substituted in revision for NAC 372.060)
Read Entire Law on www.leg.state.nv.us