Section 706.816 - Accounts for operating expense1. The account for drivers' supervision salaries includes the salaries paid to persons employed in supervising taxicab drivers. If only a portion of an employee's time is spent supervising, the appropriate percentage of his or her salary must be charged to this account.2. The account for drivers' wages and commissions includes all wages and commissions paid to drivers, including "make-up," but excluding vacation pay.3. The account for vacation pay includes all vacation pay paid to supervisors and drivers.4. The account for payroll taxes includes all payroll taxes of supervisors and drivers, including, but not limited to, FICA, NUC and SIIS.5. The account for payroll benefits includes the costs incurred by the company for welfare and pension benefits of its supervisors and drivers.6. The account for taxicab expenses must contain the following subaccounts:(a) An account for fuel that includes the cost of fuel used by taxicabs only. Accurate supporting records of cost and gallons used must be maintained and summarized on a monthly basis.(b) An account for oil that includes the cost of oil used by taxicabs only. Accurate supporting records of cost and quarts used must be maintained on a monthly basis.(c) An account for tires that includes the cost of replacement tires.(d) An account for repairs and maintenance that includes the cost of outside labor, materials and any other expenses incurred in the repair and maintenance of taxicabs and integral equipment attached to them, including batteries and accessories, excepting radios or telephonic equipment. This account must be charged for all taxicab repairs and replacement parts purchased by a company for use in making repairs to taxicabs and their integral equipment except for items included in the account for tires, described in paragraph (c), and the account for repairs and maintenance of dispatch equipment, described in subsection 9 of NAC 706.819.(e) An account for credits for insurance recoveries that must be credited with all insurance recoveries from losses or damages sustained by taxicabs, whether from insurance companies or other persons. This account must be maintained with sufficient detail and description to permit ready identification, analysis and verification of all facts relevant to each entry.7. A company that obtains any services contemplated in the account for credits for insurance recoveries described in paragraph (e) of subsection 6 through a contract that provides for the payment of a fixed amount must use an account for contract services in lieu of the account described in paragraph (e) of subsection 6. This account must be maintained in such a manner as to permit ready identification, analysis and verification of all facts relevant to each class of expense as stated in the various accounts described in subsection 6. Appropriately entitled subaccounts may be employed for this purpose.8. Depreciation expenses must be accounted for in the following accounts:(a) The taxicab account includes the amount of depreciation applicable to taxicabs.(b) The taximeter account includes the amount of depreciation applicable to taxicab meters.(c) The account for air conditioners includes the amount of depreciation applicable to taxicab air conditioners, when separate from cabs.(d) The account for fuel conversion kits includes the cost of depreciation applicable to fuel conversion kits.9. The account for injuries and damages includes all costs, exclusive of insurance premiums incurred by the company, or by the insurance company agents, if payable by the company under the terms of its insurance coverage, for the investigation of accidents or claims or the adjustment of claims arising from the operation of taxicabs. This account also includes all costs incurred by the company in its defense of any legal action arising from the operation of taxicabs and costs of settlement if payable by the company under the terms of its insurance coverage.10. The account for insurance for taxicabs includes insurance premium expenses and writeoffs of premiums for the reporting period applicable specifically to the operation of taxicabs, such as coverage for driver's liability, property damage and bodily injury of passengers. Prepaid insurance premiums must be charged to the account for prepaid expenses described in NAC 706.711.11. The account for licenses and taxes includes licenses and taxes such as registration fees, medallions, motor carrier plates, franchise taxes, toll taxes, county airport fees and any other tax expenses, which are applicable specifically to the operation of taxicabs. Appropriate subaccounts must be maintained for each class of license or tax expense.12. The account for miscellaneous expenses pertaining to taxicabs includes any costs incurred by the company applicable to the actual operation of taxicabs which are not provided for in any of the foregoing accounts relative to that operation. This account must be maintained in such manner as to permit ready identification, analysis and verification of all facts relative to each class of items. Appropriately entitled subaccounts may be employed for this purpose.13. The account for transferred internal costs includes the internal costs transferred from the various other functional divisions to operating expense. Costs transferred to this account must be either actual or on a percentage basis if the percentage is arrived at through periodic special studies. The use of arbitrary percentages or amounts transferred to this account is not permitted.14. The account for gain or loss on disposal of automotive equipment includes the gain or loss on the disposition of taxicabs of the company. This account must be charged with the book cost of the taxicab plus any expense of sale. It must be credited with the related accumulated provision for depreciation recorded to the date of disposition of sale, and with the proceeds received on disposition. The account must be maintained with such detail and descriptions as to permit ready identification of each taxicab disposed of and verification of all facts relative to each transaction.Nev. Admin. Code § 706.816
Taxicab Auth., Uniform System of Accounts Reg. §§ 501-596, eff. 12-24-70; A 11-16-79-NAC A 10-13-88