Nev. Rev. Stat. § 360.263 — Power of Nevada Tax Commission to compromise liability of taxpayers under certain circumstances; regulations

NRS  360.263    Power of Nevada Tax Commission to compromise liability of
taxpayers under certain circumstances; regulations.
1.  The Nevada Tax Commission may enter
into a compromise with a taxpayer concerning the liability of the taxpayer for
any tax, contribution, premium, fee, interest or penalty that the Department
has determined the taxpayer is required to pay to the State if a majority of
the members of the Nevada Tax Commission determine upon affirmative vote that:
(a) It is unlikely that the Department will be
able to collect the entire amount of the liability of the taxpayer;
(b) The amount of the liability of the taxpayer
is unclear; or
(c) Such a compromise is appropriate based upon
considerations of equity and fairness.
2.  The Nevada Tax Commission shall adopt
regulations to carry out the provisions of this section.
3.  As used in this section, “compromise”
means acceptance of an amount that is less than the liability as full
satisfaction of that liability.