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Current as of January 01, 2021 | Updated by FindLaw Staff
1. A short-term lessor that wishes to impose an additional charge pursuant to NRS 482.3158 to recover its vehicle licensing costs must, not less than annually, make good faith estimates of:
(a) Its vehicle licensing costs for the calendar year; and
(b) The charge that must be imposed in each lease to recover those costs.
2. If the amount of money collected by a short-term lessor for the recovery of its vehicle licensing costs during a calendar year is different from the amount of those costs for that year, the short-term lessor shall:
(a) Retain the amount collected; and
(b) Adjust its estimate of its vehicle licensing costs and the charge that must be imposed on each lease to recover those costs for the immediately following calendar year by the amount of the difference.
3. This section does not prevent a short-term lessor from making adjustments in the amount of its charge to recover its vehicle licensing costs during the calendar year.
4. A short-term lessor shall annually report to the Department of Taxation:
(a) The amount of the short-term lessor's vehicle licensing costs for the immediately preceding calendar year; and
(b) The amount of money collected by the short-term lessor for the recovery of its vehicle licensing costs for the immediately preceding calendar year.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 43. Public Safety; Vehicles; Watercraft § 482.31583. Conditions for imposing additional charge; authorized and required actions relating to recovery of vehicle licensing costs; annual report to Department of Taxation - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-43-public-safety-vehicles-watercraft/nv-rev-st-482-31583.html
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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