Nev. Admin. Code § 360.492 — 360.492

NAC 360.492    Provision of credit or refund to customer; resale of returned
property. ( NRS
360.090 , 372.725 , 374.725 )
1.  The retailer shall keep adequate records
that document any refund or credit made to a customer.
2.  If a retailer credits or refunds to a
customer the full sales price of returned goods:
(a) Before the retailer remits the tax to the
Department, the amount of the sales price so credited or refunded must not be
included in the gross receipts of the retailer in the return filed by the
retailer for that period. A retailer shall file a return as required in NRS 372.360 or 374.365 , as appropriate, even if, as
a result of providing a credit or refund to a customer, there is no tax due
from the retailer.
(b) After the retailer has remitted the tax to the
Department, the retailer may deduct the amount of the sales price so credited
or refunded from gross receipts on the return filed by the retailer for the
period in which the credit was given or refund was made if the tax rates in the
two periods are the same. If the tax rates are not the same, the retailer must
submit to the Department an amended return for the period in which the original
sale was made. If a retailer has insufficient gross receipts during the period
in which a credit or refund has been made to a customer to offset the credit or
refund so made, the retailer may take that amount as a credit against gross
receipts and report a negative amount. Unless the retailer has requested a
refund, the Department shall issue a statement to the retailer allowing a
credit that may be applied against future tax liability of the retailer. If the
retailer requests a refund, the Department shall issue a refund to the retailer
in an amount that is equal to the amount of the credit owed to the retailer at
the time the request is made.
3.  If a customer has erroneously paid sales
tax to a retailer, the customer must first seek a credit or refund of the tax
from the retailer. If the customer attempts, but is unable, to receive the
credit or refund from the retailer, the customer may apply for the credit or
refund directly from the Department. When applicable, the Department shall
deduct from the credit or refund to be paid to the customer an amount equal to
the amount deducted and withheld by the retailer for reimbursement pursuant to NRS 372.370 or 374.375 , as appropriate, for the
cost of collecting the tax being credited or refunded.
4.  When any returned tangible personal
property is resold, the sale is subject to the tax pursuant to chapter 372 or 374 of NRS.
(Added to NAC by Tax Comm’n by R032-03, eff. 10-30-2003)