Section 361.431 - Allocation of value of interstate and intercounty properties1. Since the unit rule of valuation will be used for all interstate and intercounty properties, an allocation of those properties operating in Nevada will be made.2. The allocation will: (a) Total 100 percent for all states in which the company operates; and(b) Reflect the quantity of property in each state, as well as the use or value of the property in each state.3. Allocation factors will be those that are readily available rather than requiring some new or additional statistic and the factor will not be an allocation in and of itself.4. The interstate allocation will be made in proportion to the contribution to the unit value made by the property in Nevada. The allocation will be a reflection of the property value. It is the value of the existing property which is being allocated, not merely the amount of the physical property.5. Available quantity elements such as cost and economic or use elements such as revenue will be used in the determination of the allocation.6. The interstate allocation formulas adopted by the Western States Association of Tax Administrators will be approved by the Executive Director of the Department and used when the information is available and considered applicable.Nev. Admin. Code § 361.431
Added to NAC by Tax Comm'n, eff. 9-30-88