NAC706.401986. Accounts for general and administrative expense: General taxes.

     1. The account for general taxes must include the costs of all taxes, permits or licenses incurred on or for property owned by the company and devoted to the limousine operations of the company.

     2. The account must not include:

     (a) Payroll taxes, federal income taxes and other taxes and charges included in the account for licenses and taxes described in subsection 10 of NAC 706.401982; or

     (b) Taxes incurred on leased property under the terms of the lease. Such taxes must be included in the appropriate subaccount under the account for rent described in subsection 1 of NAC 706.401988.

     3. The account for general taxes must be maintained with sufficient detail and description to allow ready identification, analysis and verification of all relative facts, and appropriately titled subaccounts may be used for this purpose.

     (Added to NAC by Transportation Serv. Auth. by R040-02, eff. 9-20-2002)