Nev. Rev. Stat. § 372.510 — Authority of Department; amount; sales; return of surplus

1.  The Department, whenever it deems it
necessary to insure compliance with this chapter, may require any person
subject to the chapter to place with it such security as the Department may
determine. The Department shall fix the amount of the security which, except as
otherwise provided in subsection 2, may not be greater than twice the estimated
average tax due quarterly of persons filing returns for quarterly periods,
three times the estimated average tax due monthly of persons filing returns for
monthly periods or four times the estimated average tax due annually of persons
filing returns for annual periods, determined in such a manner as the
Department deems proper.
2.  In the case of persons who are
habitually delinquent in their obligations under this chapter, the amount of
the security may not be greater than three times the average actual tax due
quarterly of persons filing returns for quarterly periods, five times the
average actual tax due monthly of persons filing returns for monthly periods or
seven times the average actual tax due annually of persons filing returns for
annual periods.
3.  The limitations provided in this
section apply regardless of the type of security placed with the Department.
4.  The amount of the security may be
increased or decreased by the Department subject to the limitations provided in
this section.
5.  The Department may sell the security at
public auction if it becomes necessary to recover any tax or any amount
required to be collected, or interest or penalty due. Notice of the sale may be
served upon the person who placed the security personally or by mail. If the
notice is served by mail, service must be made in the manner prescribed for
service of a notice of a deficiency determination and must be addressed to the
person at his or her address as it appears in the records of the Department.
Security in the form of a bearer bond issued by the United States or the State
of Nevada which has a prevailing market price may be sold by the Department at
a private sale at a price not lower than the prevailing market price.
6.  Upon any sale any surplus above the
amounts due must be returned to the person who placed the security.

OVERPAYMENTS AND REFUNDS