Nev. Admin. Code § 372.120 — 372.120

NAC 372.120    Foreclosure sales. ( NRS
360.090 , 372.725 )
1.  The tax does not apply to sales of
tangible personal property at public auction pursuant to the provisions of a
chattel mortgage, if:
(a) The sale is made pursuant to a court decree of
foreclosure by an officer appointed by the court for that purpose; or
(b) The property is bid in by the mortgagee.
2.  The tax applies to other foreclosure
sales and to sales by a person who has bid in the property to the same extent
as to other sales.
[Tax Comm’n, Combined Sales and Use Tax Ruling No. 24,
eff. 3-1-68]