Nev. Admin. Code § 372.765 — 372.765

NAC 372.765    Over-collection of tax. ( NRS
360.090 , 372.725 )
1.  Any over-collection must, if possible, be
refunded by the retailer to the person from whom it was collected.
2.  If an audit deficiency exists involving
any over-collection and the amount over-collected has not been paid to the
Department, the Department will credit the retailer if it is furnished with
satisfactory proof that a refund has been given as required by subsection 1.
The Department will not provide a credit for interest assessed on any
over-collection that is not reported or that is under-reported, but the
Executive Director may approve a credit of not more than 75 percent of the
penalty assessed if a refund is given as required by subsection 1.
3.  A retailer shall:
(a) Use all practical methods to determine the
amount to be refunded pursuant to subsection 1 and the name and address of the
person to whom the refund is to be made.
(b) Within 60 days after receiving notice from the
Department that a refund must be made, make an accounting to the Department of
all refunds paid. The accounting must be accompanied by any supporting
documents required by the Department.
4.  Any over-collection that cannot be
refunded for any reason must be paid to the Department.
5.  As used in this section,
“over-collection” means any money that is collected as tax on an exempt
transaction or that exceeds the amount provided in NAC 372.760 .
(Added to NAC by Dep’t of Taxation, eff. 8-2-90)