Skip to main content
Find a Lawyer

Nevada Revised Statutes Title 32. Revenue and Taxation § 374.7261. Application and calculation of tax on property purchased for certain purposes related to aircraft and components of aircraft

Current as of January 01, 2021 | Updated by FindLaw Staff

<Section expires by limitation effective June 30, 2035.>

1. In administering the provisions of this chapter:

(a) The Department shall calculate the amount of tax imposed on tangible personal property purchased for use in owning, operating, manufacturing, servicing, maintaining, testing, repairing, overhauling or assembling an aircraft or any component of an aircraft as follows:

(1) If the tangible personal property is purchased by a business for use in the performance of a contract, the business is deemed the consumer of the tangible personal property and the sales tax must be paid by the business on the sales price of the tangible personal property to the business.

(2) If the tangible personal property is purchased by a business for use in the performance of a contract and the sales tax is not paid because the vendor did not have a valid seller's permit, or because the resale certificate was properly presented, or for any other reason, the use tax must be imposed based on the sales price of the tangible personal property to the business.

(b) Any tangible personal property purchased by a business for use in the performance of a contract is deemed to have been purchased for use in owning, operating, manufacturing, servicing, maintaining, testing, repairing, overhauling or assembling an aircraft or any component of an aircraft.

2. As used in this section:

(a) “Aircraft” has the meaning ascribed to it in paragraph (a) of subsection 12 of NRS 360.753.

(b) “Component of an aircraft” has the meaning ascribed to it in paragraph (b) of subsection 12 of NRS 360.753.

(c) “Contract” means any contract for the ownership, operation, manufacture, service, maintenance, testing, repair, overhaul or assembly of an aircraft or any component of an aircraft entered into by a business.

Back to chapter list
Previous part of code Next part of code
Back to chapter list

Cite this article: FindLaw.com - Nevada Revised Statutes Title 32. Revenue and Taxation § 374.7261. Application and calculation of tax on property purchased for certain purposes related to aircraft and components of aircraft - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-32-revenue-and-taxation/nv-rev-st-374-7261/

Read this complete Nevada Revised Statutes Title 32. Revenue and Taxation § 374.7261. Application and calculation of tax on property purchased for certain purposes related to aircraft and components of aircraft on Westlaw

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.

Was this helpful?

Search all Nevada Codes

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About the Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to find an attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

    More Options
    Copied to clipboard