Nev. Admin. Code § 706.672

Current through June 11, 2024

Section 706.672 - Depreciable assets

1. To insure that all records for preparing financial reports forwarded to the Taxicab Authority are maintained on a comparable basis, the requirements regarding depreciation for reporting and regulatory purposes are shown in the following table:

(a) Method: The straight-line method is the only allowable method of computing annual depreciation charges to operations.

(b) Service Lives and Salvage Values:

(1) Operating Depreciable Assets:
Category	Service Life	Salvage Value
Taxicabs	48 months	none
Air conditioners (if separate)	48 months	none
Fuel conversion kits	48 months	none
Taximeters, new	60 months	none
Taximeters, used	36 months	none
(2) Dispatching Depreciable Assets:
Category	Service Life	Salvage Value
New: Radios	60 months	none
Telephonic equipment	60 months	none
Transmitters	60 months	none
Category	Service Life	Salvage Value
New: Radio and telephonic test equipment	60 months	none
Used: Radios	36 months	none
Telephonic equipment	36 months	none
Transmitters	36 months	none
Radio and telephonic test equipment	36 months	none
(3) Shop and Garage Depreciable Assets:
Category	Service Life	Salvage Value
Automotive equipment-new	48 months	none
Automotive equipment-used	36 months	none
Shop equipment-new	84 months	none
Shop equipment-used	36 months	none
Fuel conversion plant-new	84 months	none
Fuel conversion plant-used	36 months	none
Body shop equipment-new	84 months	none
Body shop equipment-used	36 months	none
(4) General and Administrative Depreciable Assets:
Category	Service Life	Salvage Value
Office equipment-new	84 months	none
Office equipment-used	36 months	none
Furniture and fixtures-new	120 months	none
Furniture and fixtures-used	60 months	none
Office and buildings-original	360 months	none
Office and buildings-additions	360 months	none
Office and buildings-air-conditioning	84 months	none
Leasehold improvements	Length of lease- unless life of asset warrants a shorter amortization period	none

2. The requirements for depreciable assets as shown in the table do not preclude the company from using longer or shorter service lives, higher or lower salvage values, or another method of calculating depreciation for any purposes other than recording amounts and reporting under the uniform system of accounts.

Nev. Admin. Code § 706.672

Taxicab Auth., Uniform System of Accounts Reg. Gen. Instructions § 8, eff. 12-24-70; A 11-16-79-NAC A 10-13-88

NRS 706.8818, 706.8829