Nevada Tax Form Notes (Page 4 of 4) in pdf

against the selling price given by a retailer for the value of

Topics currently under discussion are the needed

amendments to business license requirements, the

a used vehicle taken in on trade on the purchase of

modified business tax on general business, the modified

another vehicle. There have been questions as to how

business tax on financial institutions, the bank branch

Ballot Measure 8 of the 2004 General Election affected

the vehicle trade-in allowance.

excise tax, the live entertainment tax, and the certificate

of operation associated with off-highway vehicles to

The 2005 Nevada Legislature agreed to extend this

bring them in line with the statutory changes that

automobile trade-in allowance until it can be addressed

occurred during the 2005 Legislative Session. Future

by the voters of the State of Nevada at the November

workshops will discuss fabrication labor, construction

2006 General Election (AB 554). Thus, the automobile

contractors

and

changes

associated

with

the

trade-in allowance credit has been extended and will

Streamlined Sales and Use Tax Agreement. Please visit

remain in effect until January 1, 2007.

Dealers of

our website for further information.

vehicles should continue to accept used vehicles taken in

OFF-HIGHWAY STICKER PROGRAM (SB 400)

trade on the purchase of another vehicle in the same

manner as they have in the past.

Starting January 1, 2006, owners of newly purchased

off-highway vehicles will be required to affix a certificate

EMPLOYMENT OPPORTUNITIES WITH THE

of operation sticker on the vehicle. Off-highway vehicles

DEPARTMENT OF TAXATION

include, but are not limited to, all-terrain vehicles, all-

The Department of Taxation has begun listing its open

terrain motorcycles, dune buggies, snowmobiles and any

positions

its

website

motor vehicle used on public lands for the purpose of

Recruitments for the Department are administered by

recreation. Only authorized off-highway vehicle dealers

State Personnel and the website includes a link to the

may issue these stickers. A dealer or person wanting

State Personnel web site.

authorization must apply to the Department in writing

and receive written confirmation of the approval.

USE TAX REGISTRATION

Requirements for continued approval for the issuance of

All individuals and business entities required to have a

stickers include compliance with the laws of this state;

Nevada State Business License are also required to be

having a place of business located in this state or

registered for and to report use tax if the business

holding a valid Nevada sales tax permit; making every

purchases tangible personal property for storage, use or

reasonable effort to provide satisfactory service to the

other consumption in Nevada (NRS 372.220). Use tax is

potential certificate holder; making timely reports to the

distinguished from sales tax in that it is due from the

Department of all certificates issued on a form provided

purchaser on any tangible personal property used in

by the Department; and must maintain possession of all

Nevada upon which Nevada sales tax has not been

records pertaining to the certificate of operation stickers

paid.

for a period of five years.

The use tax law has not changed. What has changed is

Any off-highway vehicle dealer interested in obtaining

the requirement to be registered and report this tax. The

authorization to issue stickers should mail their request

exception to this requirement is a business that does not

to the Carson City Office of the Department of Taxation.

have a physical presence of any sort in Nevada.

MODIFIED BUSINESS TAX CREDIT NOTIFICATIONS

business entity required to be registered for use tax must

Certain taxpayers are currently receiving notices of

file use tax returns even if the business does not have

credits for previously paid modified business tax returns

an ongoing use tax liability; this requirement cannot be

and have called the Department with questions. Many of

waived. A use tax return must be filed for each period,

those credits are the result of miscalculating the amount

whether a liability exists or not. The report frequency is

of tax actually owed. Some taxpayers are self-assessing

determined by the nature of the business. For further

penalties and interest that are not due and result in a

information, please contact your nearest District Office

credit. Also, many taxpayers who owe at the general

listed on the front page.

business rate utilize a downloaded reporting form on

REGULATION WORKSHOPS

their computer for ease of preparation. However, these

forms will often reflect the old rate of 0.0065 rather than

The Department of Taxation, during its normal business

the new rate of 0.0063 that took effect for the quarter

activities, conducts regular scheduled workshops on

ending September 30, 2005.

Please contact your

issues that pertain to specific tax issues. These public

nearest District Office for further clarification.

workshops provide an opportunity for affected business

to provide language and discussion related to changes

HOLIDAY CLOSURES

or new provisions within the Nevada Administrative

The Department of Taxation offices will be closed on the

Code chapters.

These are important because they

following days in observance of the listed first quarter

provide businesses with the necessary clarity and

2006 holidays:

consistency of treatment in the application of statutory

requirements in fulfilling their responsibilities to the State

Monday, January 2

New Year’s Day

of Nevada.

Once there is consensus language, it is

Monday, January 16

Martin Luther King Day

Monday, February 20

Washington’s Birthday

taken to the Nevada Tax Commission for final approval

and adoption.

Nevada Tax Form Notes Page 4

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