Section 363B.165 - Employer ineligible to receive commerce tax credit if deficient in payment of commerce tax; amendment of tax return for payroll tax upon partial or full satisfaction of deficiency; adjustments to employer's account1. If an employer incurs a deficiency in the payment of the commerce tax, the employer is not entitled to the commerce tax credit for the amount of the deficiency until the employer satisfies all or part of the deficiency. The amount of the credit to which the employer is entitled pursuant to this subsection is equal to 50 percent of the amount of the deficiency paid by the employer. 2. Upon partial or full satisfaction of a deficiency in the payment of the commerce tax, an employer may amend a return of the tax imposed by NRS 363B.110, as amended by section 70 of Senate Bill No. 483, chapter 487, Statutes of Nevada 2015, at page 2901, for any of the 4 calendar quarters immediately following the taxable year for which the commerce tax was required to be paid to claim the commerce tax credit in accordance with the provisions of subsection 4 of NRS 363B.110, as amended by section 70 of Senate Bill No. 483, chapter 487, Statutes of Nevada 2015, at page 2901. 3. The Department may make such adjustments to the account of an employer as the Department deems necessary to apply a commerce tax credit and adjust a return of the tax imposed by NRS 363B.110, as amended by section 70 of Senate Bill No. 483, chapter 487, Statutes of Nevada 2015, at page 2901, in accordance with this section. 4. As used in this section: (a) "Commerce tax" means the tax required to be paid pursuant to sections 2 to 61, inclusive, of Senate Bill No. 483, chapter 487, Statutes of Nevada 2015, at page 2878 (chapter 363C of NRS). (b) "Commerce tax credit" means the credit against the tax imposed by NRS 363B.110, as amended by section 70 of Senate Bill No. 483, chapter 487, Statutes of Nevada 2015, at page 2901, which is set forth in subsection 4 of that section.Nev. Admin. Code § 363B.165
Added to NAC by Tax Comm'n by R123-15, eff. 6/28/2016NRS 360.090, 363B.060, 363B.110