NAC360.450. Agreement for payment over period of 12 months or less.

     1. Except as otherwise provided in NAC 360.456 and 360.460 and subject to the approval of the Director or the Director’s designee, the Department may enter into an agreement with a taxpayer, upon the request of the taxpayer, that allows the taxpayer to pay taxes, interest and penalties in installments over a period of 12 months or less if:

     (a) The taxpayer submits accurate and complete information that the Department requires to determine whether to enter into the agreement;

     (b) The taxpayer agrees in writing that he or she will comply with all applicable laws and regulations of the Commission during the period in which the agreement is in effect, including, without limitation, reporting and payment requirements;

     (c) The taxpayer agrees in writing that the agreement may be terminated immediately if the taxpayer fails timely to make any payment required by the agreement or defaults in any other reporting or payment requirement;

     (d) The Department determines that as of the date on which the taxpayer requested to enter into the agreement, the taxpayer is unable to pay the entire amount of taxes, interest and penalties due for financial reasons; and

     (e) The amount owed by the taxpayer on the date on which he or she requested to enter into the agreement does not exceed the amount set by the Commission pursuant to NAC 360.454.

     2. The Department may deny a request to enter into an agreement pursuant to subsection 1 if the taxpayer has not complied with a previous agreement with the Department to pay taxes, interest and penalties in installments.

     (Added to NAC by Tax Comm’n by R046-01, eff. 11-1-2001; A by R202-08, 10-15-2010)