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Form Iip-R - Annual Industrial Insurance (Workers Compensation) Reconciliation Premium Tax Return - 2010 Page 4

Line 13 Enter the amount due to you for overpayments made in prior reporting periods for which you have received a Department of

Taxation Credit Notice. Monthly notices received from the Department are not cumulative. Do not take the credit if you have applied

for a refund. NOTE: Only credits established by the Department may be used.

Line 14 Enter the amount of Overpayments refunded by Nevada during the calendar year.

Line 15 Net Premium Tax Due. Enter the amount of Net Premium Tax due. Line 9 minus Lines 10d through 13 plus Line 14.

Line 16 Penalty If this return is not submitted/postmarked and taxes are not paid on or before the due date as shown on the face of

this return, the amount of penalty due is a) For returns with Period(s) Ending prior to and including 3/31/07 the Penalty is 10%; b) For

returns with Period(s) ending 4/30/07 and after; the amount of penalty due is based on the number of days the payment is late per

NAC 360.395 (see table below). The maximum penalty is 10%.

Number of days late

Penalty Percentage

Multiply by:

1 - 10

0.02

11 - 15

0.04

16 - 20

0.06

21- 30

0.08

31 +

10%

0.10

Determine the number of days late the payment is, and multiply the net tax owed (Line 15) by the appropriate rate based on the table

above. The result is the amount of penalty that should be entered. For Example, the taxes were due January 31, but not paid until

February 15 so the penalty is 4%.

Line 17 Daily Interest If this return will not be postmarked and the taxes paid on or before the due date as shown on the face of this

return, interest will be calculated daily. Line 15 multiplied by .00049315068 times the number of days late.

Line 18 Total Adjusted Premium Tax Due If the calculated amount entered on this line results in a negative figure, this amount is the

premium tax overpayment that may refunded. Pursuant to NRS 680B.120 request for refund must be made within 1 year after the

date such fees, charges or taxes were originally required to be paid or within 30 days after the date of payment of any additional tax,

charge or fee. If you owe premium tax and/or retaliatory assessment, make check payable to the Department of Taxation.

IIP-R

Revised 12-21-10

Form Iip-R - Annual Industrial Insurance (Workers Compensation) Reconciliation Premium Tax Return - 2010 Page 4