NAC363A.360. Amount of tax due for calendar quarter.

     1. The entire amount of the excise tax imposed by NRS 363A.120 becomes due for all the branch offices in excess of one operated or otherwise maintained by a bank in any county in this State on the first day of a calendar quarter, regardless of whether the bank ceases to operate or otherwise maintain any of those branch offices during that calendar quarter.

     2. If the operation or other maintenance of a branch office commences after the first day of a calendar quarter, no excise tax is due pursuant to the provisions of NRS 363A.120 for the branch office for that calendar quarter.

     3. For the purposes of this section:

     (a) The operation or other maintenance of a branch office shall be deemed to commence on the date the branch office first opens for business to the public.

     (b) If the first day of a calendar quarter does not occur on a regular banking day for a bank, the bank shall be deemed to operate or otherwise maintain a branch office on that date if the bank:

          (1) Held the branch office open for business to the public at any time during the immediately preceding 5 regular banking days for the bank; and

          (2) Holds the branch office open for business to the public at any time during the immediately succeeding 5 regular banking days for the bank.

     4. As used in this section, the words and terms defined in NRS 363A.120 have the meanings ascribed to them in that section.

     (Added to NAC by Dep’t of Taxation by R152-03, eff. 10-30-2003; A by Tax Comm’n by R194-05, 2-23-2006)