Nev. Admin. Code § 372.932 — 372.932

NAC 372.932    Certain transfers of tangible personal property to governmental
entities or nonprofit organizations. ( NRS
360.090 , 372.385 , 372.725 )
1.  If a lease of tangible personal property
to an entity exempt from taxation pursuant to NRS 372.325 or 372.326 constitutes a sale pursuant
to NAC 372.926 , the sale is exempt from
taxation.
2.  Any transfer of tangible personal
property described in NRS 372.7283
or 372.7287 shall be deemed to
constitute a sale of the tangible personal property and is exempt from
taxation.
3.  If a lease of tangible personal property
to an entity exempt from taxation pursuant to NRS 372.325 or 372.326 does not constitute a sale
pursuant to subsection 2 or NAC 372.926 ,
the original sale of the tangible personal property to the lessor is not exempt
from taxation and the lessor must pay the tax.
(Added to NAC by Tax Comm’n by R058-02, eff. 1-17-2003;
A by R021-08, 4-17-2008)—(Substituted in revision for NAC 372.075)
Property Purchased After June 15, 2005