Nev. Admin. Code § 361.340 — 361.340

NAC 361.340    “Net operating income” defined. ( NRS
360.090 , 361.320 )    “Net operating income”
means the excess of the revenues of a business enterprise over the expenses of
the enterprise, excluding the income from sources other than its regular
activities, but before the deduction of debt interest or recapture of capital.
In property tax appraisal, the net operating income is at a level that also
includes the sum to be paid for property taxes.
[Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]—(NAC
A 9-30-88)