Section 361.065 - Tangible personal property purchased by and consumed during operation of business1. All tangible personal property which is purchased by a business and which is claimed to be exempt pursuant to paragraph (d) of subsection 1 of NRS 361.068 must be consumed during the operation of the business and must not be intended to become a component part of a manufactured item for sale or lease.2. The personal property for which such an exemption is claimed must be material that is: (a) Used up, drained, absorbed, dissipated or expended during the normal day-to-day operation of the business;(b) Characterized by its individual low cost in relation to the other more expensive fixed assets of the business;(c) Disposable, with a generally useful life of less than 1 year; and(d) Not meant for resale.3. Tangible personal property which is consumed by a business and to which this exemption applies may include, without limitation, envelopes, pens, copy paper, paper clips, toner, tape, rubber gloves, masks, cyanide, janitorial supplies, bathroom tissue, light bulbs, playing cards, dice, napkins, straws, "doggie bags," paper bags, wrapping materials, register tape, packaging supplies, invoices, Styrofoam, tires or batteries.4. This exemption does not apply to any tangible personal property which is required to be depreciated for federal income tax purposes.Nev. Admin. Code § 361.065
Added to NAC by Tax Comm'n, eff. 7-9-96; A by R031-03, 8-4-2004