NAC366.020. Amount required for years following initial 2 years of operation.

The Department will review annually the estimated maximum monthly tax for each special fuel supplier or special fuel dealer who has operated his or her business for at least 2 years before the review is conducted. The Department will review the monthly tax returns of the special fuel supplier or special fuel dealer for the 24 months immediately preceding the review to determine whether the estimated monthly tax is sufficient. If the Department determines that the estimated monthly tax is not sufficient, the Department will increase the amount of security required for that special fuel supplier or special fuel dealer in accordance with its review. Except as otherwise provided in NAC 366.030 and 366.040, the increased amount of security must equal at least three times the increased estimated maximum monthly tax, but not less than $1,000 for a special fuel supplier or $100 for a special fuel dealer, as appropriate.

     (Added to NAC by Dep’t of Motor Veh. & Pub. Safety, 12-15-94, eff. 7-1-95; A 3-28-96; R096-00, 3-1-2001)