Nev. Admin. Code § 361.421 — 361.421

NAC 361.421    Cost approach indicator of value: Determination. ( NRS 360.090 , 361.320 )    The cost
approach consists of:
1.  Determining the gross book cost for
financial reporting purposes of all taxable operating property, including, but
not limited to, all property relating to rail transportation, utility plant in
service, plant held for future use, contributed plant, nuclear fuel,
construction work in progress, experimental plant, acquisition adjustments,
materials and supplies, plant and other property leased from others and common
plant.
2.  Deducting from the gross book cost the
accrued book depreciation recorded for financial reporting purposes, which may
include physical, functional and economic obsolescence. Additional obsolescence
must be deducted when adequately quantified.
(Added to NAC by Tax Comm’n, eff. 9-30-88; A by R085-98,
11-23-98)