Nev. Admin. Code § 361.1424 — 361.1424

NAC 361.1424    Exemption for aircraft qualifying as business inventory. ( NRS 360.090 , 360.250 ,
361.068 )
1.  A person claiming that an aircraft is
personal property held for sale by a merchant or manufacturer and is exempt
from taxation pursuant to paragraph (a) or (b) of subsection 1 of NRS 361.068 , as applicable, has the
burden of establishing to the satisfaction of the county assessor that the
aircraft qualifies for the claimed exemption.
2.  A claim that an aircraft is exempt from
taxation pursuant to paragraph (a) or (b) of subsection 1 of NRS 361.068 must be accompanied by
the following documents as requested by the county assessor:
(a) A valid dealer’s license issued by the Federal
Aviation Administration to the owner of the aircraft;
(b) A valid seller’s permit issued to the owner of
aircraft by the Department pursuant to NRS 360.5973 ;
(c) A valid business license issued by a local
government in this State;
(d) Evidence of the location of the aircraft on an
airport or airfield in this State;
(e) A flight log; or
(f) Listing or consignment agreements relating to
the aircraft.
(Added to NAC by Tax Comm’n by R001-20, eff. 1-21-2021)