Nev. Rev. Stat. § 360.320 — Offsetting of certain overpayments; calculation of penalties and interest

NRS  360.320    Offsetting of certain overpayments; calculation of penalties and
interest.
1.  Except as otherwise provided in this
title, in making a determination of the amount required to be paid, the
Department shall offset overpayments for a reporting period of an audit period
against underpayments for any other reporting period within the audit period.
2.  If it is determined that there is a net
deficiency, any penalty imposed must be calculated based on the amount of the
net deficiency.
3.  If it is determined that:
(a) There is a net deficiency for a reporting
period after offsetting any overpayment from any previous reporting period, any
interest imposed on the net deficiency must be calculated before determining
whether there is an overpayment or net deficiency for the next reporting period
within the audit period.
(b) There is a net overpayment for a reporting
period after offsetting any net deficiency from any previous reporting period,
any interest to which the taxpayer is entitled must be calculated before
determining whether there is an overpayment or net deficiency for the next
reporting period within the audit period.
4.  The provisions of this section do not
apply if, in any reporting period within the audit period, the taxpayer has:
(a) Failed to file a report or return that he or
she is required to file;
(b) Filed such a report or return later than the
date it is due;
(c) Filed such a report or return that
erroneously shows no taxes due; or
(d) Filed such a report or return that shows taxes
due and has not remitted the taxes due in a timely manner.
5.  As used in this section, “reporting
period” includes, without limitation, a calendar month, a calendar quarter, a
calendar year and any other period for reporting.