Nev. Rev. Stat. § 371.060

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 371.060 - Schedules for depreciation; minimum amount of tax

1. Except as otherwise provided in subsection 2, subsection 2 of NRS 371.040 and NRS 482.2155, each vehicle must be depreciated by the Department for the purposes of the annual governmental services tax according to the following schedule:

Age	Percentage of Initial Value
New.............................................................................................................	100 percent
1 year............................................................................................................	95 percent
2 years...........................................................................................................	85 percent
3 years...........................................................................................................	75 percent
4 years...........................................................................................................	65 percent
5 years...........................................................................................................	55 percent
6 years...........................................................................................................	45 percent
7 years...........................................................................................................	35 percent
8 years...........................................................................................................	25 percent
9 years or more............................................................................................	15 percent

2. Except as otherwise provided in subsections 2 and 3 of NRS 371.040, each bus, truck or truck-tractor having a declared gross weight of 10,000 pounds or more and each trailer or semitrailer having an unladen weight of 4,000 pounds or more must be depreciated by the Department for the purposes of the annual governmental services tax according to the following schedule:

Age	Percentage of Initial Value
New.............................................................................................................	100 percent
1 year...........................................................................................................	85 percent
2 years.........................................................................................................	69 percent
3 years.........................................................................................................	57 percent
4 years.........................................................................................................	47 percent
5 years.........................................................................................................	38 percent
6 years.........................................................................................................	33 percent
7 years.........................................................................................................	30 percent
8 years.........................................................................................................	27 percent
9 years.........................................................................................................	25 percent
10 years or more.........................................................................................	23 percent

3. Notwithstanding any other provision of this section, the minimum amount of the governmental services tax:

(a) On any trailer having an unladen weight of 1,000 pounds or less is $3; and

(b) On any other vehicle is $16.

4. For the purposes of this section, a vehicle shall be deemed a "new" vehicle if the vehicle has never been registered with the Department and has never been registered with the appropriate agency of any other state, the District of Columbia, any territory or possession of the United States or any foreign state, province or country.

NRS 371.060

Added to NRS by 1963, 1119; A 1967, 358; 1969, 185; 1971, 6; 1985, 1842; 1995, 754; 2001, 291; 2009, 2190; 2013, 2864; 2015, 1769

Amended by 2015, Ch. 326,§15.4, eff. 1/1/2017 or the date on which the Director of the Department of Motor Vehicles notifies the Governor and the Director of the Legislative Counsel Bureau that sufficient resources are available to enable the Department to carry out the amendatory provisions of 2015 Chapter 326, whichever occurs first.

Amended by 2013, Ch. 475,§37, eff. 1/1/2015.

Added to NRS by 1963, 1119; A 1967, 358; 1969, 185; 1971, 6; 1985, 1842; 1995, 754; 2001, 291; 2009, 2190