NAC360.490. Claim for credit or refund: Authorization and requirements for filing; action upon approval.

     1. If a taxpayer has overpaid any tax pursuant to chapter 372 or 374 of NRS, or any interest or penalty relating thereto, the taxpayer may file a claim for a credit or refund with the Department. The Department shall not consider such a claim unless the claim is filed within the statutory period provided in NRS 372.635 or 374.640, as appropriate.

     2. A claim for a credit or refund must include documentation supporting the claim.

     3. If the overpayment is due to an error or omission in a previously filed return, the claim should be in the form of an amended return, as prescribed by the Department, for each period in which the tax was originally reported. The amended return must specify the original amounts reported, the correct amounts and the differences.

     4. The person requesting the credit or refund must be the person who was legally obligated to remit the tax to the Department or the person’s legal successor or authorized representative.

     5. Upon a determination by the Department that an overpayment was made by the taxpayer and upon the approval of the State Board of Examiners or board of county commissioners, as appropriate, the Department shall issue a statement to the taxpayer allowing a credit in the amount of the overpayment unless the taxpayer specifically requests a refund on the claim. The credit may be applied to any future tax liability of the taxpayer. If the taxpayer requests a refund, the Department shall issue a refund to the taxpayer in an amount which is equal to the amount of the credit owed to the taxpayer at the time the request for a refund is made. When applicable, the Department shall deduct from the credit or refund an amount equal to the amount deducted and withheld by the taxpayer for reimbursement pursuant to NRS 372.370 or 374.375, as appropriate, for the cost of collecting the tax being credited or refunded in accordance with this section.

     (Added to NAC by Tax Comm’n by R032-03, eff. 10-30-2003)