Nev. Rev. Stat. § 370.50334 — Bond or other security

1.  Except as otherwise provided in this
section, each licensed remote retail seller shall furnish a bond executed by
the remote retail seller as principal, and by a corporation qualified under the
laws of this State as surety, payable to the State of Nevada and conditioned
upon the payment of all excise taxes required to be precollected by the remote
retail seller pursuant to the provisions of NRS
370.5031 to 370.50341 , inclusive.
Each bond must be in a principal sum equal to the largest amount of tax
precollected by the remote retail seller in any quarter of the preceding year.
If the information to establish that amount is not available, then the bond must
be in a sum required from a licensee operating under conditions deemed
comparable by the Department. No bond may be for less than $1,000. When cash is
used, the amount must be rounded up to the next larger integral multiple of
$100.
2.  Upon application and a satisfactory
showing, the Department may increase or decrease the amount of a bond required
by subsection 1, based on the record of taxes remitted by the remote retail
seller.
3.  The Department may waive the
requirement of the bond required by subsection 1 whenever a licensed remote
retail seller has maintained a satisfactory record of payment of excise taxes
or deferred payments, respectively, for a period of 5 consecutive years.
4.  A remote retail seller is not entitled
to a refund of any portion of money paid as a bond pursuant to this section if
the remote retail seller has failed to file a report required by this chapter
or owes the Department any fee, payment or penalty.