[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.
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 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)