Nev. Admin. Code § 365.185 — 365.185

NAC 365.185    Request for reduction in amount of security. ( NRS 365.110 , 365.290 )
1.  A dealer or supplier who complies with the
requirements set forth in subsection 2 may submit a written request to the
Department for a reduction in the amount of security required pursuant to NRS 365.290 if the required amount
would otherwise be more than $5,000. Upon receipt of such a request, the
Department may reduce the required amount to an amount that is:
(a) Not less than twice the amount of the maximum
monthly tax the dealer or supplier reported to the Department during the 2
years immediately preceding the date of the request for a reduction; or
(b) Equal to $5,000,
Ê whichever is
greater.
2.  A dealer or supplier who has filed tax
returns pursuant to chapter 365 of NRS
for at least 3 calendar years may submit a request pursuant to subsection 1 if,
during the 3 years immediately preceding the date of the request, he or she:
(a) Filed in a timely manner the tax returns
required pursuant to chapter 365 of
NRS;
(b) Paid in a timely manner all taxes and
assessments owed to the State of Nevada pursuant to chapter 365 of NRS; and
(c) Has been audited at least once by the
Department during the 2 calendar years immediately preceding the date of the
request.
(Added to NAC by Dep’t of Motor Veh. by R105-01, 12-17-2001,
eff. 1-1-2002; A by R150-08, 12-17-2008)