Nev. Admin. Code § 361.462 — 361.462

NAC 361.462    Deduction of depreciated cost of nonallocable flight equipment. ( NRS 360.090 , 361.320 )
1.  The depreciated cost of the nonallocable
flight equipment will be deducted from the total depreciated cost of the flight
equipment.
2.  For the purposes of this section:
(a) “Flight equipment” includes, without
limitation, airframes, engines, propellers, radio equipment, miscellaneous
flight equipment, spare parts and assemblies, leased aircraft and improvements
to leased equipment.
(b) “Nonallocable flight equipment” means only that
property or equipment which is not attached or required to be aboard or part of
an aircraft which is ready for flight.
3.  Every item of property which is required
to be aboard for the operation of the aircraft will be classified as allocable
flight equipment.
4.  The only instances when an aircraft will
be classified as nonallocable are when:
(a) The carrier purchased an aircraft which was not
delivered or was delivered too late to have participated in the creation of the
allocation statistics; or
(b) An aircraft which is owned by the carrier was
leased to and operated by another party.
5.  The percentage of the total amount of tangible
personal property of the carrier which the allocable flight equipment
represents will be calculated and applied to the total estimate of value of the
assessable property of the carrier.
[Tax Comm’n, Property Tax Reg. part No. 15D, eff. 10-30-79]