Section 372.534 - Claim for bad debt deductionA retailer who wishes to claim a bad debt deduction must claim the deduction on a return filed with the Department not later than 12 months after the last day of the month in which:
1. The retailer wrote off the bad debt in the business records of the retailer that are maintained in the ordinary course of the retailer's business and became eligible to claim a deduction for the bad debt pursuant to section 166 of the Internal Revenue Code, 26 U.S.C. § 166, if the retailer is required to file a federal income tax return; or2. The bad debt was written off in the records and books of account of the retailer in accordance with generally accepted accounting principles, if the retailer is not required to file a federal income tax return.Nev. Admin. Code § 372.534
Added to NAC by Tax Comm'n by R191-18, eff. 12/19/2018NRS 360.090, 372.368, 372.725, 374.373, 374.725