NAC706.828. Accounts for general and administrative expense: General taxes.

     1. The account for general taxes includes the costs of all taxes, permits or licenses, incurred on or for property owned by the company, devoted to the company’s taxicab operations, except payroll taxes, federal income taxes and those taxes included in the account for licenses and taxes described in subsection 11 of NAC 706.816.

     2. Taxes incurred on leased property under the terms of the lease, must not be included in this account, but must be included in the appropriate subaccount under the account for rent described in subsection 1 of NAC 706.834.

     3. This account must be maintained in such detail and description as to permit ready identification, analysis and verification of all relative facts. Subaccounts with appropriately descriptive titles may be used for these purposes.

     [Taxicab Auth., Uniform System of Accounts Reg. § 862, eff. 12-24-70; A 11-16-79]