NRS 374.7261
Application and calculation of tax on property purchased for certain purposes related to aircraft and components of aircraft.

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.

Source: Section 374.7261 — Application and calculation of tax on property purchased for certain purposes related to aircraft and components of aircraft., https://www.­leg.­state.­nv.­us/NRS/NRS-374.­html#NRS374Sec7261.

374.724
Applicability to retailers whose activities have sufficient nexus with county to satisfy requirements of United States Constitution 374.725
Enforcement by Department 374.726
Application of use tax to certain property acquired free of charge at convention, trade show or other public event. 374.732
Taxation of photographers: Furnishing of proofs considered to be rendition of service. 374.733
Circumstances under which veterinarian is considered consumer of tangible personal property. 374.734
“Feminine hygiene products” construed. 374.735
Employment of accountants, investigators and other persons 374.738
Certain broadcasters, printers, advertising firms, distributors and publishers deemed agents and retailers maintaining place of business in this State. 374.739
Certain broadcasting activities not taxable transactions. 374.740
Records to be kept by sellers, retailers and others. 374.745
Examination of records 374.750
Reports for administering use tax: Filing 374.7243
Applicability to retailer that is part of controlled group of entities with certain affiliates having physical presence in this State 374.7247
Applicability to retailers who enter into certain agreements with residents of this State for referral of customers through Internet links 374.7261
Application and calculation of tax on property purchased for certain purposes related to aircraft and components of aircraft. 374.7273
Application of exemption for sale of personal property for shipment outside State to certain sales of motor vehicles, farm machinery and equipment and vessels. 374.7275
Calculation of tax imposed on retail sale of large appliances. 374.7286
Claim of exemption by certain members of Nevada National Guard, their families and relatives of deceased members.
Last Updated

Jun. 24, 2021

§ 374.7261’s source at nv​.us