Nev. Admin. Code § 361.1421 — 361.1421

NAC 361.1421    Applicability. ( NRS
360.090 , 360.250 , 361.260 )
1.  Except as otherwise provided in
subsection 2, the provisions of NAC
361.1401 to 361.1438 , inclusive, do
not apply to property of an interstate or intercounty nature used directly in
the operation of a scheduled or unscheduled air transport company that is
subject to valuation by the Nevada Tax Commission pursuant to NRS 361.320 .
2.  The provisions of NAC 361.1401 to 361.1438 , inclusive, apply to a fixed-wing
aircraft with a weight of less than 12,500 pounds used by an air transport
company to provide transportation services if, pursuant to subsection 10 of NRS 361.320 , the air transport
company elects to have the property of the company assessed by a county
assessor.
3.  As used in this section, “scheduled or
unscheduled air transport company” means a commercial operator:
(a) Engaged in the common carriage of persons or
property for compensation or hire;
(b) That holds a certificate from the Federal
Aviation Administration authorizing the commercial operator to operate under
part 121, 125 or 135 of title 14 of the Code of Federal Regulations;
(c) That uses property of an interstate or
intercounty nature directly in its operations; and
(d) The property of which is subject to valuation
by the Nevada Tax Commission pursuant to NRS 361.320 .
(Added to NAC by Tax Comm’n by R001-20, eff. 1-21-2021)