NAC366.030. Request for reduction in amount required.

     1. A special fuel supplier or special fuel dealer who complies with the requirements set forth in subsection 2 may submit a written request to the Department for a reduction in the amount of security required pursuant to NRS 366.235 if the required amount would otherwise be more than $5,000. Upon receipt of such a request, the Department may reduce the required amount to an amount which is:

     (a) Not less than twice the amount of the maximum monthly tax the supplier or dealer reported to the Department during the 2 years immediately preceding his or her request for a reduction; or

     (b) Equal to $5,000,

Ê whichever is greater.

     2. A special fuel supplier or special fuel dealer who has filed tax returns with the Department pursuant to chapter 366 of NRS for 3 or more calendar years may submit a request pursuant to subsection 1 if he or she:

     (a) Has filed punctually the tax returns required by NRS 366.383 or 366.386 for the 3 preceding calendar years;

     (b) Has paid punctually all taxes and assessments due the State of Nevada for the 3 preceding calendar years;

     (c) Has not been deemed habitually delinquent within the 3 preceding calendar years; and

     (d) Has been audited by the Department within the 2 preceding calendar years.

     (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; A by Dep’t of Motor Veh. by R150-08, 12-17-2008)