NAC372.932. Certain transfers of tangible personal property to governmental entities or nonprofit organizations.

     1. If a lease of tangible personal property to an entity exempt from taxation pursuant to NRS 372.325 or 372.326 constitutes a sale pursuant to NAC 372.926, the sale is exempt from taxation.

     2. Any transfer of tangible personal property described in NRS 372.7283 or 372.7287 shall be deemed to constitute a sale of the tangible personal property and is exempt from taxation.

     3. If a lease of tangible personal property to an entity exempt from taxation pursuant to NRS 372.325 or 372.326 does not constitute a sale pursuant to subsection 2 or NAC 372.926, the original sale of the tangible personal property to the lessor is not exempt from taxation and the lessor must pay the tax.

     (Added to NAC by Tax Comm’n by R058-02, eff. 1-17-2003; A by R021-08, 4-17-2008)—(Substituted in revision for NAC 372.075)