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Current as of January 01, 2021 | Updated by FindLaw Staff
1. “Sales price” means the total amount for which tangible property is sold, valued in money, whether paid in money or otherwise, without any deduction on account of any of the following:
(a) The cost of the property sold.
(b) The cost of the materials used, labor or service cost, interest charged, losses, or any other expenses.
(c) The cost of transportation of the property before its purchase.
2. The total amount for which property is sold includes all of the following:
(a) Any services that are a part of the sale.
(b) Any amount for which credit is given to the purchaser by the seller.
3. “Sales price” does not include any of the following:
(a) Cash discounts allowed and taken on sales.
(b) The amount charged for property returned by customers when the entire amount charged therefor is refunded in cash or credit, except that this exclusion does not apply in any instance when the customer, in order to obtain the refund, is required to purchase other property at a price greater than the amount charged for the property that is returned.
(c) The amount charged for labor or services rendered in installing or applying the property sold.
(d) The amount of any tax, not including any manufacturers' or importers' excise tax, imposed by the United States upon or with respect to retail sales, whether imposed upon the retailer or the consumer.
(e) The amount of any tax imposed by the State of Nevada upon or with respect to the storage, use or other consumption of tangible personal property purchased from any retailer.
(f) The amount of any allowance against the selling price given by a retailer for the value of a used vehicle or vessel which is taken in trade on the purchase of another vehicle or vessel.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 32. Revenue and Taxation § 374.070. “Sales price” defined - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-32-revenue-and-taxation/nv-rev-st-374-070/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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