Section 372.780 - Deduction for property resold after being purchased for purpose other than resaleA retailer who takes a deduction pursuant to section 12 of chapter 397, Statutes of Nevada 1955, (NRS 372.025 ) for property which was resold after being purchased for a purpose other than resale shall:
1. Hold a valid permit issued pursuant to NRS 372.135;2. Take the deduction on the retailer's tax return which covers the period in which he or she resold the property; and3. Maintain complete records which are adequate to substantiate the deduction.Nev. Admin. Code § 372.780
Tax Comm'n, Combined Sales and Use Tax Ruling part No. 68, eff. 6-14-68NRS 360.090, 372.025, 372.725