requires two-thirds majority vote (§§ 14, 17, 21, 42, 44, 48, 63-66, 76, 77,

79-89, 91-156, 158-164, 170, 171, 173-180, 184-187, 189)                                                                                                     

                                                                                                  

 

Assembly Bill No. 243–Committee on Taxation

 

(On Behalf of the Governor)

 

March 5, 2003

____________

 

Referred to Committee on Taxation

 

SUMMARY—Provides revenue in support of state budget. (BDR 32‑1211)

 

FISCAL NOTE:  Effect on Local Government: Yes.

                           Effect on the State: Contains Appropriation included in Executive Budget.

 

~

 

EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to state finances; providing for the imposition and administration of state taxes on the gross receipts of businesses and on certain admissions and amusements; increasing certain taxes and fees; levying an ad valorem tax and revising certain limitations on the total ad valorem tax levy; revising certain provisions governing state business licenses; providing for the implementation of certain administrative methods to increase the generation of revenue; requiring certain public bodies to include a clause regarding compliance with state and local laws in each contract for a public work; requiring the review of laws regarding certain exemptions from taxes; making an appropriation; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

 

 

 

2-1  Section 1. Title 32 of NRS is hereby amended by adding

2-2  thereto a new chapter to consist of the provisions set forth as

2-3  sections 2 to 33, inclusive, of this act.

2-4  Sec. 2.  As used in this chapter, unless the context otherwise

2-5  requires, the words and terms defined in sections 3 to 10,

2-6  inclusive, of this act have the meanings ascribed to them in those

2-7  sections.

2-8  Sec. 3.  1.  “Business entity” includes:

2-9  (a) A corporation, partnership, proprietorship, business

2-10  association and any other person engaging in a business; and

2-11      (b) A natural person engaging in a business if he is deemed to

2-12  be a business entity pursuant to section 16 of this act.

2-13      2.  The term includes an independent contractor.

2-14      3.  The term does not include a governmental entity.

2-15      Sec. 4.  “Business” means any activity engaged in or caused

2-16  to be engaged in with the object of gain, benefit or advantage,

2-17  either direct or indirect, to any person or governmental entity.

2-18      Sec. 5.  “Commission” means the Nevada Tax Commission.

2-19      Sec. 6.  “Engaging in a business” means commencing,

2-20  conducting or continuing a business, the exercise of corporate or

2-21  franchise powers regarding a business, and the liquidation of a

2-22  business entity which is or was engaging in a business when the

2-23  liquidator holds itself out to the public as conducting that

2-24  business.

2-25      Sec. 7.  “Fiscal year” means the 12-month period beginning

2-26  on the first day of July and ending on the last day of June.

2-27      Sec. 8.  “Gross amount received or receivable” means the

2-28  total sum of any money and the fair market value of any other

2-29  property or services received or receivable, including, without

2-30  limitation, rents, royalties, interest and dividends.

2-31      Sec. 9.  1.  Except as otherwise provided in this section,

2-32  “gross receipts” means the gross amount received or receivable on

2-33  the use, sale or exchange of property or capital or for the

2-34  performance of services, from any transaction involving a

2-35  business, without any reduction for the basis of property sold, the

2-36  cost of goods or services sold, or any other expense of the

2-37  business.

2-38      2.  “Gross receipts” does not include:

2-39      (a) Any revenue which this state is prohibited from taxing

2-40  pursuant to the Constitution or laws of the United States or the

2-41  Nevada Constitution.

2-42      (b) Any revenue received by a nonprofit organization that

2-43  qualifies as a tax-exempt organization pursuant to 26 U.S.C. §

2-44  501(c), as membership fees or dues or as a result of its fund-

2-45  raising activities.

3-1  (c) Any revenue received by a natural person from the rental

3-2  of not more than four residential units.

3-3  (d) Any revenue from the sale of agricultural products at

3-4  wholesale.

3-5  (e) If a business entity pays a tax on premiums pursuant to title

3-6  57 of NRS, the total income of the business entity derived from

3-7  direct premiums written.

3-8  (f) If a business entity pays a license fee pursuant to NRS

3-9  463.370, the total sum of all amounts specifically included by

3-10  statute in and all amounts specifically excluded by statute from the

3-11  calculation of that fee for the business entity.

3-12      (g) If a business entity pays a license fee pursuant to NRS

3-13  463.373, the gross receipts of the business entity from the

3-14  operation of the slot machines upon which that fee is paid.

3-15      Sec. 10.  1.  “Pass-through revenue” means revenue

3-16  received by a business entity solely on behalf of another in a

3-17  disclosed agency capacity, including, without limitation, revenue

3-18  received as a broker, bailee, consignee or auctioneer,

3-19  notwithstanding that the business entity may incur liability,

3-20  primarily or secondarily, in a transaction in its capacity as an

3-21  agent.

3-22      2.  “Pass-through revenue” includes reimbursement for

3-23  advances made by a business entity on behalf of a customer or

3-24  client, other than with respect to services rendered or with respect

3-25  to purchases of goods by the business entity in carrying out the

3-26  business in which it engages.

3-27      Sec. 11.  The Legislature hereby finds and declares that the

3-28  tax imposed by this chapter on a business entity must not be

3-29  construed as a tax upon the customers of the business entity, but

3-30  as a tax which is imposed upon and collectible from the business

3-31  entity and which constitutes part of the operating overhead of the

3-32  business entity.

3-33      Sec. 12.  The Department shall:

3-34      1.  Administer and enforce the provisions of this chapter, and

3-35  may adopt such regulations as it deems appropriate for that

3-36  purpose.

3-37      2.  Deposit all taxes, interest and penalties it receives pursuant

3-38  to this chapter in the State Treasury for credit to the State General

3-39  Fund.

3-40      Sec. 13.  1.  Each person responsible for maintaining the

3-41  records of a business entity shall:

3-42      (a) Keep such records as may be necessary to determine the

3-43  amount of its liability pursuant to the provisions of this chapter;

4-1  (b) Preserve those records for 4 years or until any litigation or

4-2  prosecution pursuant to this chapter is finally determined,

4-3  whichever is longer; and

4-4  (c) Make the records available for inspection by the

4-5  Department upon demand at reasonable times during regular

4-6  business hours.

4-7  2.  Any person who violates the provisions of subsection 1 is

4-8  guilty of a misdemeanor.

4-9  Sec. 14.  1.  To verify the accuracy of any return filed, or, if

4-10  no return is filed by a business entity, to determine the amount

4-11  required to be paid, the Department, or any person authorized in

4-12  writing by the Department, may examine the books, papers and

4-13  records of any person or business entity that may be liable for the

4-14  tax imposed by this chapter.

4-15      2.  Any person or business entity which may be liable for the

4-16  tax imposed by this chapter and which keeps outside of this state

4-17  its books, papers and records relating thereto shall pay to the

4-18  Department an amount equal to the allowance provided for state

4-19  officers and employees generally while traveling outside of the

4-20  State for each day or fraction thereof during which an employee

4-21  of the Department is engaged in examining those documents, plus

4-22  any other actual expenses incurred by the employee while he is

4-23  absent from his regular place of employment to examine those

4-24  documents.

4-25      Sec. 15.  1.  Except as otherwise provided in this section and

4-26  NRS 360.250, the records and files of the Department concerning

4-27  the administration of this chapter are confidential and privileged.

4-28  The Department, and any employee engaged in the administration

4-29  of this chapter or charged with the custody of any such records or

4-30  files, shall not disclose any information obtained from the

4-31  Department’s records or files or from any examination,

4-32  investigation or hearing authorized by the provisions of this

4-33  chapter. Neither the Department nor any employee of the

4-34  Department may be required to produce any of the records, files

4-35  and information for the inspection of any person or for use in any

4-36  action or proceeding.

4-37      2.  The records and files of the Department concerning the

4-38  administration of this chapter are not confidential and privileged

4-39  in the following cases:

4-40      (a) Testimony by a member or employee of the Department

4-41  and production of records, files and information on behalf of the

4-42  Department or a taxpayer in any action or proceeding pursuant to

4-43  the provisions of this chapter if that testimony or the records, files

4-44  or information, or the facts shown thereby are directly involved in

4-45  the action or proceeding.

5-1  (b) Delivery to a taxpayer or his authorized representative of a

5-2  copy of any return or other document filed by the taxpayer

5-3  pursuant to this chapter.

5-4  (c) Publication of statistics so classified as to prevent the

5-5  identification of a particular business entity or document.

5-6  (d) Exchanges of information with the Internal Revenue

5-7  Service in accordance with compacts made and provided for in

5-8  such cases.

5-9  (e) Disclosure in confidence to the Governor or his agent in

5-10  the exercise of the Governor’s general supervisory powers, or to

5-11  any person authorized to audit the accounts of the Department in

5-12  pursuance of an audit, or to the Attorney General or other legal

5-13  representative of the State in connection with an action or

5-14  proceeding pursuant to this chapter, or to any agency of this or

5-15  any other state charged with the administration or enforcement of

5-16  laws relating to taxation.

5-17      (f) Exchanges of information pursuant to subsection 3.

5-18      3.  The Commission may agree with any county fair and

5-19  recreation board or the governing body of any county, city or town

5-20  for the continuing exchange of information concerning taxpayers.

5-21      Sec. 16.  A natural person engaging in a business shall be

5-22  deemed to be a business entity that is subject to the provisions of

5-23  this chapter if the person is required to file with the Internal

5-24  Revenue Service a Schedule C (Form 1040), Profit or Loss From

5-25  Business form, or its equivalent or successor form, or a Schedule

5-26  F (Form 1040), Profit or Loss From Farming form, or its

5-27  equivalent or successor form, for the business.

5-28      Sec. 17.  1.  An excise tax is hereby imposed upon each

5-29  business entity for the privilege of engaging in a business in this

5-30  state at the rate of 0.25 percent of the amount of the gross receipts

5-31  of the business entity in this state in excess of $450,000 per fiscal

5-32  year. The tax is due and payable as provided in this section.

5-33      2.  Each business entity engaging in a business in this state

5-34  during a calendar quarter shall, on or before the last day of

5-35  the month immediately following that calendar quarter, file with

5-36  the Department a return on a form prescribed by the Department.

5-37  The form must provide each business entity with an opportunity

5-38  for account reconciliation.

5-39      3.  Except as otherwise provided in subsection 4, a business

5-40  entity shall remit with the return required to be filed pursuant to

5-41  subsection 2 on or before the last day of:

5-42      (a) October, a sum equal to 0.25 percent of the amount of the

5-43  gross receipts of the business entity in this state for the first

5-44  calendar quarter of that fiscal year in excess of $112,500;

6-1  (b) January, a sum equal to 0.25 percent of the amount of the

6-2  gross receipts of the business entity in this state for the first 2

6-3  calendar quarters of that fiscal year in excess of $225,000, except

6-4  that the business entity is entitled to a credit against the sum due

6-5  pursuant to this paragraph equal to the amount of any sum

6-6  remitted pursuant to paragraph (a) for that fiscal year;

6-7  (c) April, a sum equal to 0.25 percent of the amount of the

6-8  gross receipts of the business entity in this state for the first 3

6-9  calendar quarters of that fiscal year in excess of $337,500, except

6-10  that the business entity is entitled to a credit against the sum due

6-11  pursuant to this paragraph equal to the total amount of any sums

6-12  remitted pursuant to paragraphs (a) and (b) for that fiscal year;

6-13  and

6-14      (d) July, a sum equal to 0.25 percent of the amount of the

6-15  gross receipts of the business entity in this state for the

6-16  immediately preceding fiscal year in excess of $450,000, except

6-17  that the business entity is entitled to a credit against the sum due

6-18  pursuant to this paragraph equal to the total amount of any sums

6-19  remitted pursuant to paragraphs (a), (b) and (c) for that fiscal

6-20  year.

6-21      4.  A business entity may, under such conditions as the

6-22  Department deems appropriate, elect to defer the remittance of any

6-23  of the sums due pursuant to paragraphs (a), (b) and (c) of

6-24  subsection 3 for a fiscal year until not later than the last day of

6-25  July immediately following that fiscal year. If a business entity

6-26  elects to defer any payments pursuant to this subsection and the

6-27  amount of the gross receipts of the business entity in this state for

6-28  that fiscal year:

6-29      (a) Does not exceed $450,000, the business entity is not liable

6-30  for the payment of any of the amounts otherwise required

6-31  pursuant to subsection 3 for that fiscal year.

6-32      (b) Exceeds $450,000, the deferral of any payments pursuant

6-33  to this subsection shall be deemed, for the purposes of NRS

6-34  360.417, to constitute a failure to pay the tax within the time

6-35  required pursuant to this section.

6-36      Sec. 18.  1.  The Department shall, by regulation, adopt

6-37  criteria for determining the amount of gross receipts attributable

6-38  to business conducted in this state by each business entity for the

6-39  purpose of calculating the tax liability of the business entity

6-40  pursuant to this chapter.

6-41      2.  The regulations required by subsection 1 must include

6-42  criteria which:

6-43      (a) Give adequate weight to the essential elements responsible

6-44  for the earning of income by each business entity;

7-1  (b) Fairly, equitably and reasonably determine the amount of

7-2  the gross receipts of each business entity to which the tax imposed

7-3  pursuant to this chapter is applicable;

7-4  (c) Ensure that all gross receipts that are lawfully taxable

7-5  pursuant to this chapter are included in the calculation of the tax

7-6  liability of each business entity; and

7-7  (d) Ensure that the business entity is not liable for the taxes

7-8  imposed by this state if another state lawfully imposes taxes on the

7-9  same gross receipts.

7-10      3.  The criteria required by subsection 2 may include, without

7-11  limitation, consideration of such factors as sales, purchases,

7-12  expenses of manufacture, payroll, value and situs of tangible

7-13  property to determine gross receipts or reference to any of these or

7-14  other factors or such other method of determination as is fairly

7-15  calculated to determine the gross receipts derived from or

7-16  attributable to business within this state. In determining the gross

7-17  receipts derived from the sale of products, the Department may

7-18  provide for the determination of the value of the products based

7-19  upon the gross receipts from sales within this state of similar

7-20  products of like character and quality, in similar quantities by

7-21  other business entities, if the Department determines that the

7-22  income derived from the sale of the products is not indicative of

7-23  the true value of the subject matter of the sale.

7-24      4.  The Department shall ensure that the tax imposed by this

7-25  chapter:

7-26      (a) Is applied only to business that has a substantial nexus

7-27  with this state;

7-28      (b) Does not discriminate against interstate commerce; and

7-29      (c) Is fairly related to the presence and activities of the

7-30  business entity within this state.

7-31      5.  The Department shall include in the regulations adopted

7-32  pursuant to subsection 1 appropriate procedures for appeals from

7-33  decisions made by the Department in carrying out the regulations

7-34  adopted pursuant to this section. The regulations must require that

7-35  to prevail in the appeal the taxpayer must prove by clear and

7-36  convincing evidence that the method used by the Department for

7-37  determining the amount of gross receipts that are taxable

7-38  pursuant to this chapter did not fairly represent the extent of the

7-39  business conducted by the business entity in this state.

7-40      Sec. 19.  In calculating the tax liability of a business entity

7-41  pursuant to this chapter, the business entity is entitled to deduct

7-42  from it gross receipts:

7-43      1.  The amount of any federal, state or local governmental

7-44  fuel taxes collected by the business entity.

8-1  2.  Any revenue of the business entity attributable to interest

8-2  upon any bonds or securities of the Federal Government, the State

8-3  of Nevada, or a political subdivision of this state.

8-4  3.  Any pass-through revenue of the business entity.

8-5  4.  Any revenue received as dividends or distributions by a

8-6  parent organization from the capital account of a subsidiary entity

8-7  of the parent organization.

8-8  5.  Any operating revenue of a public utility for the provision

8-9  of electric, gas, water or sewer service.

8-10      6.  Any revenue received by a hospital or provider of health

8-11  care from a governmental entity.

8-12      7.  Any cash discounts the business entity allows a purchaser

8-13  of property, rights or services.

8-14      8.  Any indebtedness to the business entity which is impossible

8-15  or impracticable to collect and which is written off by the business

8-16  entity as a bad debt for purposes of federal taxation.

8-17      9.  Any counterfeit currency received by the business entity for

8-18  which the business entity is not reimbursed.

8-19      10.  The amount of any payments received by the business

8-20  entity upon claims for health, casualty or life insurance.

8-21      11.  The amount of any refunds by the business entity of the

8-22  purchase price of defective goods.

8-23      Sec. 20.  1.  If the Department determines, after notice and

8-24  hearing, that:

8-25      (a) Two or more business entities are members of the same

8-26  control group;

8-27      (b) Those business entities are engaged in essentially identical

8-28  activities; and

8-29      (c) The purpose of engaging in those activities through

8-30  multiple legal entities is to avoid or to reduce liability for the tax

8-31  imposed by this chapter,

8-32  the Department may require those business entities or the control

8-33  group to compute their liability for the tax imposed by this chapter

8-34  as a single business entity.

8-35      2.  As used in this section, “control group” means any

8-36  business entity in which 50 percent or more of the ownership

8-37  belongs to a single legal entity, whether through holdings of stock

8-38  or otherwise.

8-39      Sec. 21.  Upon written application made before the date on

8-40  which payment must be made, the Department may for good cause

8-41  extend by 30 days the time within which a business entity is

8-42  required to pay the tax imposed by this chapter. If the tax is paid

8-43  during the period of extension, no penalty or late charge may be

8-44  imposed for failure to pay at the time required, but the business

8-45  entity shall pay interest at the rate of 1 percent per month from the

9-1  date on which the amount would have been due without the

9-2  extension until the date of payment, unless otherwise provided in

9-3  NRS 360.232 or 360.320.

9-4  Sec. 22.  The remedies of the State provided for in this

9-5  chapter are cumulative, and no action taken by the Department or

9-6  the Attorney General constitutes an election by the State to pursue

9-7  any remedy to the exclusion of any other remedy for which

9-8  provision is made in this chapter.

9-9  Sec. 23.  If the Department determines that any tax, penalty

9-10  or interest has been paid more than once or has been erroneously

9-11  or illegally collected or computed, the Department shall set forth

9-12  that fact in the records of the Department and certify to the State

9-13  Board of Examiners the amount collected in excess of the amount

9-14  legally due and the business entity or person from which it was

9-15  collected or by whom paid. If approved by the State Board of

9-16  Examiners, the excess amount collected or paid must be credited

9-17  on any amounts then due from the person or business entity under

9-18  this chapter, and the balance refunded to the person or business

9-19  entity, or its successors, administrators or executors.

9-20      Sec. 24.  1.  Except as otherwise provided in NRS 360.235

9-21  and 360.395:

9-22      (a) No refund may be allowed unless a claim for it is filed with

9-23  the Department within 3 years after the last day of July

9-24  immediately following the close of the fiscal year for which the

9-25  overpayment was made.

9-26      (b) No credit may be allowed after the expiration of the period

9-27  specified for filing claims for refund unless a claim for credit is

9-28  filed with the Department within that period.

9-29      2.  Each claim must be in writing and must state the specific

9-30  grounds upon which the claim is founded.

9-31      3.  Failure to file a claim within the time prescribed in this

9-32  chapter constitutes a waiver of any demand against the State on

9-33  account of overpayment.

9-34      4.  Within 30 days after rejecting any claim in whole or in

9-35  part, the Department shall serve notice of its action on the

9-36  claimant in the manner prescribed for service of notice of a

9-37  deficiency determination.

9-38      Sec. 25.  1.  Except as otherwise provided in this section and

9-39  NRS 360.320, interest must be paid upon any overpayment of any

9-40  amount of the tax imposed by this chapter at the rate of 0.50

9-41  percent per month, or fraction thereof, from the last day of July

9-42  immediately following the fiscal year for which the overpayment

9-43  was made. No refund or credit may be made of any interest

9-44  imposed upon the person or business entity making the

10-1  overpayment with respect to the amount being refunded or

10-2  credited.

10-3      2.  The interest must be paid:

10-4      (a) In the case of a refund, to the last day of the calendar

10-5  month following the date upon which the person making the

10-6  overpayment, if he has not already filed a claim, is notified by

10-7  the Department that a claim may be filed or the date upon which

10-8  the claim is certified to the State Board of Examiners, whichever is

10-9  earlier.

10-10     (b) In the case of a credit, to the same date as that to which

10-11  interest is computed on the tax or amount against which the credit

10-12  is applied.

10-13     3.  If the Department determines that any overpayment has

10-14  been made intentionally or by reason of carelessness, the

10-15  Department shall not allow any interest on the overpayment.

10-16     Sec. 26.  1.  No injunction, writ of mandate or other legal or

10-17  equitable process may issue in any suit, action or proceeding in

10-18  any court against this state or against any officer of the State to

10-19  prevent or enjoin the collection under this chapter of the tax

10-20  imposed by this chapter or any amount of tax, penalty or interest

10-21  required to be collected.

10-22     2.  No suit or proceeding may be maintained in any court for

10-23  the recovery of any amount alleged to have been erroneously or

10-24  illegally determined or collected unless a claim for refund or credit

10-25  has been filed.

10-26     Sec. 27.  1.  Within 90 days after a final decision upon a

10-27  claim filed pursuant to this chapter is rendered by the

10-28  Commission, the claimant may bring an action against the

10-29  Department on the grounds set forth in the claim in a court of

10-30  competent jurisdiction in Carson City, the county of this state

10-31  where the claimant resides or maintains his principal place of

10-32  business or a county in which any relevant proceedings were

10-33  conducted by the Department, for the recovery of the whole or any

10-34  part of the amount with respect to which the claim has been

10-35  disallowed.

10-36     2.  Failure to bring an action within the time specified

10-37  constitutes a waiver of any demand against the State on account of

10-38  alleged overpayments.

10-39     Sec. 28.  1.  If the Department fails to mail notice of action

10-40  on a claim within 6 months after the claim is filed, the claimant

10-41  may consider the claim disallowed and file an appeal with the

10-42  Commission within the 30 days after the last day of the 6-month

10-43  period. If the claimant is aggrieved by the decision of the

10-44  Commission rendered on appeal, the claimant may, within 90 days

10-45  after the decision is rendered, bring an action against the

11-1  Department on the grounds set forth in the claim for the recovery

11-2  of the whole or any part of the amount claimed as an

11-3  overpayment.

11-4      2.  If judgment is rendered for the plaintiff, the amount of the

11-5  judgment must first be credited towards any tax due from the

11-6  plaintiff.

11-7      3.  The balance of the judgment must be refunded to the

11-8  plaintiff.

11-9      Sec. 29.  In any judgment, interest must be allowed at the rate

11-10  of 6 percent per annum upon the amount found to have been

11-11  illegally collected from the date of payment of the amount to the

11-12  date of allowance of credit on account of the judgment, or to a

11-13  date preceding the date of the refund warrant by not more than 30

11-14  days. The date must be determined by the Department.

11-15     Sec. 30.  A judgment may not be rendered in favor of the

11-16  plaintiff in any action brought against the Department to recover

11-17  any amount paid when the action is brought by or in the name of

11-18  an assignee of the business entity paying the amount or by any

11-19  person other than the person or business entity which paid the

11-20  amount.

11-21     Sec. 31.  1.  The Department may recover a refund or any

11-22  part thereof which is erroneously made and any credit or part

11-23  thereof which is erroneously allowed in an action brought in a

11-24  court of competent jurisdiction in Carson City or Clark County in

11-25  the name of the State of Nevada.

11-26     2.  The action must be tried in Carson City or Clark County

11-27  unless the court with the consent of the Attorney General orders a

11-28  change of place of trial.

11-29     3.  The Attorney General shall prosecute the action, and the

11-30  provisions of NRS, the Nevada Rules of Civil Procedure and the

11-31  Nevada Rules of Appellate Procedure relating to service of

11-32  summons, pleadings, proofs, trials and appeals are applicable to

11-33  the proceedings.

11-34     Sec. 32.  1.  If any amount in excess of $25 has been

11-35  illegally determined, either by the person filing the return or by the

11-36  Department, the Department shall certify this fact to the State

11-37  Board of Examiners, and the latter shall authorize the

11-38  cancellation of the amount upon the records of the Department.

11-39     2.  If an amount not exceeding $25 has been illegally

11-40  determined, either by the person or business entity filing a return

11-41  or by the Department, the Department, without certifying this fact

11-42  to the State Board of Examiners, shall authorize the cancellation

11-43  of the amount upon the records of the Department.

11-44     Sec. 33.  1.  A person shall not:

12-1      (a) Make, cause to be made or permit to be made any false or

12-2  fraudulent return or declaration or false statement in any return

12-3  or declaration, with intent to defraud the State or to evade

12-4  payment of the tax or any part of the tax imposed by this chapter.

12-5      (b) Make, cause to be made or permit to be made any false

12-6  entry in books, records or accounts with intent to defraud the State

12-7  or to evade the payment of the tax or any part of the tax imposed

12-8  by this chapter.

12-9      (c) Keep, cause to be kept or permit to be kept more than one

12-10  set of books, records or accounts with intent to defraud the State

12-11  or to evade the payment of the tax or any part of the tax imposed

12-12  by this chapter.

12-13     2.  Any person who violates the provisions of subsection 1 is

12-14  guilty of a gross misdemeanor.

12-15     Sec. 34.  Title 32 of NRS is hereby amended by adding thereto

12-16  a new chapter to consist of the provisions set forth as sections 35 to

12-17  60, inclusive, of this act.

12-18     Sec. 35.  As used in this chapter, unless the context otherwise

12-19  requires, the words and terms defined in sections 36 to 39,

12-20  inclusive, of this act have the meanings ascribed to them in those

12-21  sections.

12-22     Sec. 36.  “Admission charge” means the total amount,

12-23  expressed in terms of money, of:

12-24     1.  Any consideration provided, whether directly or indirectly,

12-25  for the right or privilege to have access to a place or location

12-26  where group entertainment is provided; and

12-27     2.  If any consideration is otherwise required for the right or

12-28  privilege to have access to a place or location where group

12-29  entertainment is provided and all or part of that consideration is

12-30  waived as part of a promotional or marketing plan, the total

12-31  amount of the consideration that would otherwise be required.

12-32     Sec. 37.  “Commission” means the Nevada Tax Commission.

12-33     Sec. 38.  “Group entertainment” means entertainment

12-34  provided for groups of spectators, including, without limitation:

12-35     1.  Athletic and sporting events, including, without limitation,

12-36  motor sports, rodeos and equestrian events.

12-37     2.  Closed circuit and other transmissions of events.

12-38     3.  Displays of motion pictures.

12-39     4.  Concerts.

12-40     5.  Theatrical productions, stage productions and other

12-41  presentations of performing arts, including, without limitation,

12-42  circuses and ice shows.

12-43     6.  Exhibitions of art, skills or goods.

12-44     7.  Beauty contests.

12-45     8.  Lectures and speaking performances.

13-1      9.  Live entertainment provided at cocktail lounges, nightclubs

13-2  and similar venues.

13-3      10.  Adult cabarets, gentlemen’s clubs and similar forms of

13-4  entertainment.

13-5      11.  Tours and tour services.

13-6      Sec. 39.  “Taxpayer” means any person liable for the tax

13-7  imposed pursuant to this chapter.

13-8      Sec. 40.  The Department shall:

13-9      1.  Administer and enforce the provisions of this chapter, and

13-10  may adopt such regulations as it deems appropriate for that

13-11  purpose.

13-12     2.  Deposit all taxes, interest and penalties it receives pursuant

13-13  to this chapter in the State Treasury for credit to the State General

13-14  Fund.

13-15     Sec. 41.  1.  Each person responsible for maintaining the

13-16  records of a taxpayer shall:

13-17     (a) Keep such records as may be necessary to determine the

13-18  amount of the liability of the taxpayer pursuant to the provisions

13-19  of this chapter;

13-20     (b) Preserve those records for 4 years or until any litigation or

13-21  prosecution pursuant to this chapter is finally determined,

13-22  whichever is longer; and

13-23     (c) Make the records available for inspection by the

13-24  Department upon demand at reasonable times during regular

13-25  business hours.

13-26     2.  The Department may by regulation specify the types of

13-27  records which must be kept to determine the amount of the

13-28  liability of a taxpayer pursuant to the provisions of this chapter.

13-29     3.  Any person who violates the provisions of subsection 1 is

13-30  guilty of a misdemeanor.

13-31     Sec. 42.  1.  To verify the accuracy of any return filed, or, if

13-32  no return is filed by a taxpayer, to determine the amount required

13-33  to be paid, the Department, or any person authorized in writing by

13-34  the Department, may examine the books, papers and records of

13-35  any person who may be liable for the tax imposed by this chapter.

13-36     2.  Any person who may be liable for the tax imposed by this

13-37  chapter and who keeps outside of this state any books, papers and

13-38  records relating thereto shall pay to the Department an amount

13-39  equal to the allowance provided for state officers and employees

13-40  generally while traveling outside of the State for each day or

13-41  fraction thereof during which an employee of the Department is

13-42  engaged in examining those documents, plus any other actual

13-43  expenses incurred by the employee while he is absent from his

13-44  regular place of employment to examine those documents.

14-1      Sec. 43.  1.  Except as otherwise provided in this section and

14-2  NRS 360.250, the records and files of the Department concerning

14-3  the administration of this chapter are confidential and privileged.

14-4  The Department, and any employee engaged in the administration

14-5  of this chapter or charged with the custody of any such records or

14-6  files, shall not disclose any information obtained from the

14-7  Department’s records or files or from any examination,

14-8  investigation or hearing authorized by the provisions of this

14-9  chapter. Neither the Department nor any employee of the

14-10  Department may be required to produce any of the records, files

14-11  and information for the inspection of any person or for use in any

14-12  action or proceeding.

14-13     2.  The records and files of the Department concerning the

14-14  administration of this chapter are not confidential and privileged

14-15  in the following cases:

14-16     (a) Testimony by a member or employee of the Department

14-17  and production of records, files and information on behalf of the

14-18  Department or a taxpayer in any action or proceeding pursuant to

14-19  the provisions of this chapter if that testimony or the records, files

14-20  or information, or the facts shown thereby are directly involved in

14-21  the action or proceeding.

14-22     (b) Delivery to a taxpayer or his authorized representative of a

14-23  copy of any return or other document filed by the taxpayer

14-24  pursuant to this chapter.

14-25     (c) Publication of statistics so classified as to prevent the

14-26  identification of a particular person or document.

14-27     (d) Exchanges of information with the Internal Revenue

14-28  Service in accordance with compacts made and provided for in

14-29  such cases.

14-30     (e) Disclosure in confidence to the Governor or his agent in

14-31  the exercise of the Governor’s general supervisory powers, or to

14-32  any person authorized to audit the accounts of the Department in

14-33  pursuance of an audit, or to the Attorney General or other legal

14-34  representative of the State in connection with an action or

14-35  proceeding pursuant to this chapter, or to any agency of this or

14-36  any other state charged with the administration or enforcement of

14-37  laws relating to taxation.

14-38     (f) Exchanges of information pursuant to subsection 3.

14-39     3.  The Commission may agree with any county fair and

14-40  recreation board or the governing body of any county, city or town

14-41  for the continuing exchange of information concerning taxpayers.

14-42     Sec. 44.  1.  There is hereby imposed an excise tax of 7.25

14-43  percent of the admission charge to any place or location in this

14-44  state where group entertainment is provided.

15-1      2.  The person who receives an admission charge is liable for

15-2  the tax imposed by this section, but is entitled to collect

15-3  reimbursement from the person paying the admission charge.

15-4      3.  Any ticket for admission to a place or location in this state

15-5  where group entertainment is provided must state whether the tax

15-6  imposed by this section is included in the price of the ticket. If the

15-7  ticket does not include such a statement, the taxpayer shall pay the

15-8  tax on the face amount of the ticket.

15-9      4.  The tax imposed by this section does not apply to an

15-10  admission charge:

15-11     (a)  Included in the computation of the tax imposed pursuant

15-12  to NRS 463.401 or any fee imposed pursuant to chapter 467 of

15-13  NRS;

15-14     (b) Provided to a governmental entity or a public or private

15-15  educational institution for any group entertainment sponsored by

15-16  a governmental entity;

15-17     (c) Provided to a nonprofit organization that qualifies as a tax-

15-18  exempt organization pursuant to 26 U.S.C. § 501(c), or to a person

15-19  who remits to such a nonprofit organization at least 60 percent of

15-20  the net revenue from the group entertainment for which access is

15-21  granted;

15-22     (d) Provided for the right or privilege to have access to a

15-23  convention, an exhibition or a trade show, if the opportunity for

15-24  admission is not made available to the general public; or

15-25     (e) Provided for the right or privilege to engage in a

15-26  participatory recreational activity, including, without limitation,

15-27  any consideration provided:

15-28         (1) For the use or rental of bicycles, boats, exercise

15-29  equipment, horses, motorcycles, snowboards, skis or other

15-30  recreational equipment;

15-31         (2) To engage in games of billiards, bowling, golf,

15-32  racquetball or tennis, or similar recreational games;

15-33         (3) To engage in aerobics, calisthenics, fishing, hunting,

15-34  running, shooting, skiing, snowboarding, swimming, ice skating

15-35  or roller skating, or similar recreational activities;

15-36         (4) For memberships in country clubs, golf clubs, tennis

15-37  clubs, gun clubs or similar recreational clubs;

15-38         (5) For access to the participatory portions of amusement,

15-39  theme or water parks, or similar recreational parks; or

15-40         (6) To participate in classes of instruction on recreational

15-41  activities, including, without limitation, classes of instruction in

15-42  arts and crafts, culinary arts, massage, yoga, athletic or sporting

15-43  activities, or similar recreational activities.

16-1      Sec. 45.  A taxpayer shall hold the amount of all taxes for

16-2  which he is liable pursuant to this chapter in a separate account in

16-3  trust for the State.

16-4      Sec. 46.  1.  The tax imposed by this chapter is payable to the

16-5  Department monthly on or before the last day of the month

16-6  immediately following the month in which liability for the tax

16-7  arose.

16-8      2.  Each taxpayer shall file with the Department a return on a

16-9  form prescribed by the Department, together with the remittance

16-10  of the tax due pursuant to this chapter, on or before the last day of

16-11  the month immediately following the month in which liability for

16-12  the tax arose.

16-13     Sec. 47.  A taxpayer may deduct and withhold from the

16-14  amount of the tax otherwise due from him pursuant to this chapter

16-15  1.25 percent of that amount to reimburse himself for the cost of

16-16  collecting, reporting and remitting the tax.

16-17     Sec. 48.  Upon written application made before the date on

16-18  which payment must be made, the Department may for good cause

16-19  extend by 30 days the time within which a taxpayer is required to

16-20  pay the tax imposed by this chapter. If the tax is paid during the

16-21  period of extension, no penalty or late charge may be imposed for

16-22  failure to pay at the time required, but the taxpayer shall pay

16-23  interest at the rate of 1 percent per month from the date on which

16-24  the amount would have been due without the extension until the

16-25  date of payment, unless otherwise provided in NRS 360.232 or

16-26  360.320.

16-27     Sec. 49.  The remedies of the State provided for in this

16-28  chapter are cumulative, and no action taken by the Department or

16-29  the Attorney General constitutes an election by the State to pursue

16-30  any remedy to the exclusion of any other remedy for which

16-31  provision is made in this chapter.

16-32     Sec. 50.  If the Department determines that any tax, penalty

16-33  or interest has been paid more than once or has been erroneously

16-34  or illegally collected or computed, the Department shall set forth

16-35  that fact in the records of the Department and certify to the State

16-36  Board of Examiners the amount collected in excess of the amount

16-37  legally due and the person from which it was collected or by whom

16-38  paid. If approved by the State Board of Examiners, the excess

16-39  amount collected or paid must be credited on any amounts then

16-40  due from the person under this chapter, and the balance refunded

16-41  to the person or his successors in interest.

16-42     Sec. 51.  1.  Except as otherwise provided in NRS 360.235

16-43  and 360.395:

17-1      (a) No refund may be allowed unless a claim for it is filed with

17-2  the Department within 3 years after the last day of the month

17-3  following the month for which the overpayment was made.

17-4      (b) No credit may be allowed after the expiration of the period

17-5  specified for filing claims for refund unless a claim for credit is

17-6  filed with the Department within that period.

17-7      2.  Each claim must be in writing and must state the specific

17-8  grounds upon which the claim is founded.

17-9      3.  Failure to file a claim within the time prescribed in this

17-10  chapter constitutes a waiver of any demand against the State on

17-11  account of overpayment.

17-12     4.  Within 30 days after rejecting any claim in whole or in

17-13  part, the Department shall serve notice of its action on the

17-14  claimant in the manner prescribed for service of notice of a

17-15  deficiency determination.

17-16     Sec. 52.  1.  Except as otherwise provided in this section and

17-17  NRS 360.320, interest must be paid upon any overpayment of any

17-18  amount of the tax imposed by this chapter at the rate of 0.50

17-19  percent per month, or fraction thereof, from the last day of the

17-20  calendar month following the month for which the overpayment

17-21  was made. No refund or credit may be made of any interest

17-22  imposed upon the person making the overpayment with respect to

17-23  the amount being refunded or credited.

17-24     2.  The interest must be paid:

17-25     (a) In the case of a refund, to the last day of the calendar

17-26  month following the date upon which the person making the

17-27  overpayment, if he has not already filed a claim, is notified by

17-28  the Department that a claim may be filed or the date upon which

17-29  the claim is certified to the State Board of Examiners, whichever is

17-30  earlier.

17-31     (b) In the case of a credit, to the same date as that to which

17-32  interest is computed on the tax or amount against which the credit

17-33  is applied.

17-34     3.  If the Department determines that any overpayment has

17-35  been made intentionally or by reason of carelessness, the

17-36  Department shall not allow any interest on the overpayment.

17-37     Sec. 53.  1.  No injunction, writ of mandate or other legal or

17-38  equitable process may issue in any suit, action or proceeding in

17-39  any court against this state or against any officer of the State to

17-40  prevent or enjoin the collection under this chapter of the tax

17-41  imposed by this chapter or any amount of tax, penalty or interest

17-42  required to be collected.

17-43     2.  No suit or proceeding may be maintained in any court for

17-44  the recovery of any amount alleged to have been erroneously or

18-1  illegally determined or collected unless a claim for refund or credit

18-2  has been filed.

18-3      Sec. 54.  1.  Within 90 days after a final decision upon a

18-4  claim filed pursuant to this chapter is rendered by the

18-5  Commission, the claimant may bring an action against the

18-6  Department on the grounds set forth in the claim in a court of

18-7  competent jurisdiction in Carson City, the county of this state

18-8  where the claimant resides or maintains his principal place of

18-9  business or a county in which any relevant proceedings were

18-10  conducted by the Department, for the recovery of the whole or any

18-11  part of the amount with respect to which the claim has been

18-12  disallowed.

18-13     2.  Failure to bring an action within the time specified

18-14  constitutes a waiver of any demand against the State on account of

18-15  alleged overpayments.

18-16     Sec. 55.  1.  If the Department fails to mail notice of action

18-17  on a claim within 6 months after the claim is filed, the claimant

18-18  may consider the claim disallowed and file an appeal with the

18-19  Commission within 30 days after the last day of the 6-month

18-20  period. If the claimant is aggrieved by the decision of the

18-21  Commission rendered on appeal, the claimant may, within 90 days

18-22  after the decision is rendered, bring an action against the

18-23  Department on the grounds set forth in the claim for the recovery

18-24  of the whole or any part of the amount claimed as an

18-25  overpayment.

18-26     2.  If judgment is rendered for the plaintiff, the amount of the

18-27  judgment must first be credited towards any tax due from the

18-28  plaintiff.

18-29     3.  The balance of the judgment must be refunded to the

18-30  plaintiff.

18-31     Sec. 56.  In any judgment, interest must be allowed at the rate

18-32  of 6 percent per annum upon the amount found to have been

18-33  illegally collected from the date of payment of the amount to the

18-34  date of allowance of credit on account of the judgment, or to a

18-35  date preceding the date of the refund warrant by not more than 30

18-36  days. The date must be determined by the Department.

18-37     Sec. 57.  A judgment may not be rendered in favor of the

18-38  plaintiff in any action brought against the Department to recover

18-39  any amount paid when the action is brought by or in the name of

18-40  an assignee of the person paying the amount or by any person

18-41  other than the person who paid the amount.

18-42     Sec. 58.  1.  The Department may recover a refund or any

18-43  part thereof which is erroneously made and any credit or part

18-44  thereof which is erroneously allowed in an action brought in a

19-1  court of competent jurisdiction in Carson City or Clark County in

19-2  the name of the State of Nevada.

19-3      2.  The action must be tried in Carson City or Clark County

19-4  unless the court with the consent of the Attorney General orders a

19-5  change of place of trial.

19-6      3.  The Attorney General shall prosecute the action, and the

19-7  provisions of NRS, the Nevada Rules of Civil Procedure and the

19-8  Nevada Rules of Appellate Procedure relating to service of

19-9  summons, pleadings, proofs, trials and appeals are applicable to

19-10  the proceedings.

19-11     Sec. 59.  1.  If any amount in excess of $25 has been

19-12  illegally determined, either by the person filing the return or by the

19-13  Department, the Department shall certify this fact to the State

19-14  Board of Examiners, and the latter shall authorize the

19-15  cancellation of the amount upon the records of the Department.

19-16     2.  If an amount not exceeding $25 has been illegally

19-17  determined, either by the person filing a return or by the

19-18  Department, the Department, without certifying this fact to

19-19  the State Board of Examiners, shall authorize the cancellation of

19-20  the amount upon the records of the Department.

19-21     Sec. 60.  1.  A person shall not:

19-22     (a) Make, cause to be made or permit to be made any false or

19-23  fraudulent return or declaration or false statement in any return

19-24  or declaration, with intent to defraud the State or to evade

19-25  payment of the tax or any part of the tax imposed by this chapter.

19-26     (b) Make, cause to be made or permit to be made any false

19-27  entry in books, records or accounts with intent to defraud the State

19-28  or to evade the payment of the tax or any part of the tax imposed

19-29  by this chapter.

19-30     (c) Keep, cause to be kept or permit to be kept more than one

19-31  set of books, records or accounts with intent to defraud the State

19-32  or to evade the payment of the tax or any part of the tax imposed

19-33  by this chapter.

19-34     2.  Any person who violates the provisions of subsection 1 is

19-35  guilty of a gross misdemeanor.

19-36     Sec. 61.  Chapter 360 of NRS is hereby amended by adding

19-37  thereto a new section to read as follows:

19-38     The Nevada Tax Commission shall adopt regulations providing

19-39  for:

19-40     1.  The electronic submission of returns to the Department;

19-41  and

19-42     2.  The payment of taxes, fees, interest and penalties to the

19-43  Department through the use of credit cards, debit cards and

19-44  electronic transfers of money.

 

20-1      Sec. 62.  NRS 360.2935 is hereby amended to read as follows:

20-2      360.2935  Except as otherwise provided in [NRS 361.485,] this

20-3  title, a taxpayer is entitled to receive on any overpayment of taxes,

20-4  after the offset required by NRS 360.320 has been made, a refund

20-5  together with interest at a rate determined pursuant to NRS 17.130.

20-6  No interest is allowed on a refund of any penalties or interest paid

20-7  by a taxpayer.

20-8      Sec. 63.  NRS 360.300 is hereby amended to read as follows:

20-9      360.300  1.  If a person fails to file a return or the Department

20-10  is not satisfied with the return or returns of any tax, contribution or

20-11  premium or amount of tax, contribution or premium required to be

20-12  paid to the State by any person, in accordance with the applicable

20-13  provisions of this chapter, chapter 362, 364A, 369, 370, 372, 372A,

20-14  374, 377, 377A or 444A of NRS, NRS 482.313, [or] chapter 585 or

20-15  680B of NRS , or sections 35 to 60, inclusive, of this act as

20-16  administered or audited by the Department, it may compute and

20-17  determine the amount required to be paid upon the basis of:

20-18     (a) The facts contained in the return;

20-19     (b) Any information within its possession or that may come into

20-20  its possession; or

20-21     (c) Reasonable estimates of the amount.

20-22     2.  One or more deficiency determinations may be made with

20-23  respect to the amount due for one or for more than one period.

20-24     3.  In making its determination of the amount required to be

20-25  paid, the Department shall impose interest on the amount of tax

20-26  determined to be due, calculated at the rate and in the manner set

20-27  forth in NRS 360.417, unless a different rate of interest is

20-28  specifically provided by statute.

20-29     4.  The Department shall impose a penalty of 10 percent in

20-30  addition to the amount of a determination that is made in the case of

20-31  the failure of a person to file a return with the Department.

20-32     5.  When a business is discontinued, a determination may be

20-33  made at any time thereafter within the time prescribed in NRS

20-34  360.355 as to liability arising out of that business, irrespective of

20-35  whether the determination is issued before the due date of the

20-36  liability.

20-37     Sec. 64.  NRS 360.300 is hereby amended to read as follows:

20-38     360.300  1.  If a person fails to file a return or the Department

20-39  is not satisfied with the return or returns of any tax, contribution or

20-40  premium or amount of tax, contribution or premium required to be

20-41  paid to the State by any person, in accordance with the applicable

20-42  provisions of this chapter, chapter 362, 364A, 369, 370, 372, 372A,

20-43  374, 377, 377A or 444A of NRS, NRS 482.313, chapter 585 or

20-44  680B of NRS, or sections 2 to 33, inclusive, or 35 to 60, inclusive,

20-45  of this act as administered or audited by the Department, it may

21-1  compute and determine the amount required to be paid upon the

21-2  basis of:

21-3      (a) The facts contained in the return;

21-4      (b) Any information within its possession or that may come into

21-5  its possession; or

21-6      (c) Reasonable estimates of the amount.

21-7      2.  One or more deficiency determinations may be made with

21-8  respect to the amount due for one or for more than one period.

21-9      3.  In making its determination of the amount required to be

21-10  paid, the Department shall impose interest on the amount of tax

21-11  determined to be due, calculated at the rate and in the manner set

21-12  forth in NRS 360.417, unless a different rate of interest is

21-13  specifically provided by statute.

21-14     4.  The Department shall impose a penalty of 10 percent in

21-15  addition to the amount of a determination that is made in the case of

21-16  the failure of a person to file a return with the Department.

21-17     5.  When a business is discontinued, a determination may be

21-18  made at any time thereafter within the time prescribed in NRS

21-19  360.355 as to liability arising out of that business, irrespective of

21-20  whether the determination is issued before the due date of the

21-21  liability.

21-22     Sec. 65.  NRS 360.417 is hereby amended to read as follows:

21-23     360.417  Except as otherwise provided in NRS 360.232 and

21-24  360.320, and unless a different penalty or rate of interest is

21-25  specifically provided by statute, any person who fails to pay any tax

21-26  provided for in chapter 362, 364A, 369, 370, 372, 374, 377, 377A,

21-27  444A or 585 of NRS, or sections 35 to 60, inclusive, of this act

21-28  or the fee provided for in NRS 482.313, to the State or a county

21-29  within the time required, shall pay a penalty of not more than 10

21-30  percent of the amount of the tax or fee which is owed, as determined

21-31  by the Department, in addition to the tax or fee, plus interest at the

21-32  rate of 1 percent per month, or fraction of a month, from the last day

21-33  of the month following the period for which the amount or any

21-34  portion of the amount should have been reported until the date of

21-35  payment. The amount of any penalty imposed must be based on a

21-36  graduated schedule adopted by the Nevada Tax Commission which

21-37  takes into consideration the length of time the tax or fee remained

21-38  unpaid.

21-39     Sec. 66.  NRS 360.417 is hereby amended to read as follows:

21-40     360.417  Except as otherwise provided in NRS 360.232 and

21-41  360.320, and unless a different penalty or rate of interest is

21-42  specifically provided by statute, any person who fails to pay any tax

21-43  provided for in chapter 362, 364A, 369, 370, 372, 374, 377, 377A,

21-44  444A or 585 of NRS, or sections 2 to 33, inclusive, or 35 to 60,

21-45  inclusive, of this act or the fee provided for in NRS 482.313, to the

22-1  State or a county within the time required, shall pay a penalty of not

22-2  more than 10 percent of the amount of the tax or fee which is owed,

22-3  as determined by the Department, in addition to the tax or fee, plus

22-4  interest at the rate of 1 percent per month, or fraction of a month,

22-5  from the last day of the month following the period for which the

22-6  amount or any portion of the amount should have been reported

22-7  until the date of payment. The amount of any penalty imposed must

22-8  be based on a graduated schedule adopted by the Nevada Tax

22-9  Commission which takes into consideration the length of time the

22-10  tax or fee remained unpaid.

22-11     Sec. 67.  NRS 360.419 is hereby amended to read as follows:

22-12     360.419  1.  If the Executive Director or a designated hearing

22-13  officer finds that the failure of a person to make a timely return or

22-14  payment of a tax imposed pursuant to NRS 361.320 or chapter

22-15  361A, 376A, 377 or 377A of NRS, or by chapter 362, 364A, 369,

22-16  370, 372, 372A, 374, 375A or 375B of NRS, or sections 35 to 60,

22-17  inclusive, of this act is the result of circumstances beyond his

22-18  control and occurred despite the exercise of ordinary care and

22-19  without intent, the Department may relieve him of all or part of any

22-20  interest or penalty , or both.

22-21     2.  A person seeking this relief must file with the Department a

22-22  statement under oath setting forth the facts upon which he bases his

22-23  claim.

22-24     3.  The Department shall disclose, upon the request of any

22-25  person:

22-26     (a) The name of the person to whom relief was granted; and

22-27     (b) The amount of the relief.

22-28     4.  The Executive Director or a designated hearing officer shall

22-29  act upon the request of a taxpayer seeking relief pursuant to NRS

22-30  361.4835 which is deferred by a county treasurer or county assessor.

22-31     Sec. 68.  NRS 360.419 is hereby amended to read as follows:

22-32     360.419  1.  If the Executive Director or a designated hearing

22-33  officer finds that the failure of a person to make a timely return or

22-34  payment of a tax imposed pursuant to NRS 361.320 or chapter

22-35  361A, 376A, 377 or 377A of NRS, or by chapter 362, 364A, 369,

22-36  370, 372, 372A, 374, 375A or 375B of NRS, or sections 2 to 33,

22-37  inclusive, or 35 to 60, inclusive, of this act is the result of

22-38  circumstances beyond his control and occurred despite the exercise

22-39  of ordinary care and without intent, the Department may relieve him

22-40  of all or part of any interest or penalty, or both.

22-41     2.  A person seeking this relief must file with the Department a

22-42  statement under oath setting forth the facts upon which he bases his

22-43  claim.

22-44     3.  The Department shall disclose, upon the request of any

22-45  person:

23-1      (a) The name of the person to whom relief was granted; and

23-2      (b) The amount of the relief.

23-3      4.  The Executive Director or a designated hearing officer shall

23-4  act upon the request of a taxpayer seeking relief pursuant to NRS

23-5  361.4835 which is deferred by a county treasurer or county assessor.

23-6      Sec. 69.  NRS 360.510 is hereby amended to read as follows:

23-7      360.510  1.  If any person is delinquent in the payment of any

23-8  tax or fee administered by the Department or if a determination has

23-9  been made against him which remains unpaid, the Department may:

23-10     (a) Not later than 3 years after the payment became delinquent

23-11  or the determination became final; or

23-12     (b) Not later than 6 years after the last recording of an abstract

23-13  of judgment or of a certificate constituting a lien for tax

23-14  owed,

23-15  give a notice of the delinquency and a demand to transmit

23-16  personally or by registered or certified mail to any person,

23-17  including, without limitation, any officer or department of this state

23-18  or any political subdivision or agency of this state, who has in his

23-19  possession or under his control any credits or other personal

23-20  property belonging to the delinquent, or owing any debts to the

23-21  delinquent or person against whom a determination has been made

23-22  which remains unpaid, or owing any debts to the delinquent or that

23-23  person. In the case of any state officer, department or agency, the

23-24  notice must be given to the officer, department or agency before

23-25  the Department presents the claim of the delinquent taxpayer to the

23-26  State Controller.

23-27     2.  A state officer, department or agency which receives such a

23-28  notice may satisfy any debt owed to it by that person before it

23-29  honors the notice of the Department.

23-30     3.  After receiving the demand to transmit, the person notified

23-31  by the demand may not transfer or otherwise dispose of the credits,

23-32  other personal property, or debts in his possession or under his

23-33  control at the time he received the notice until the Department

23-34  consents to a transfer or other disposition.

23-35     4.  Every person notified by a demand to transmit shall, within

23-36  10 days after receipt of the demand to transmit, inform the

23-37  Department of, and transmit to the Department all such credits,

23-38  other personal property, or debts in his possession, under his control

23-39  or owing by him within the time and in the manner requested by the

23-40  Department. Except as otherwise provided in subsection 5, no

23-41  further notice is required to be served to that person.

23-42     5.  If the property of the delinquent taxpayer consists of a series

23-43  of payments owed to him, the person who owes or controls the

23-44  payments shall transmit the payments to the Department until

23-45  otherwise notified by the Department. If the debt of the delinquent

24-1  taxpayer is not paid within 1 year after the Department issued the

24-2  original demand to transmit, the Department shall issue another

24-3  demand to transmit to the person responsible for making the

24-4  payments informing him to continue to transmit payments to

24-5  the Department or that his duty to transmit the payments to the

24-6  Department has ceased.

24-7      6.  If the notice of the delinquency seeks to prevent the transfer

24-8  or other disposition of a deposit in a bank or credit union or other

24-9  credits or personal property in the possession or under the control of

24-10  a bank, credit union or other depository institution, the notice must

24-11  be delivered or mailed to any branch or office of the bank, credit

24-12  union or other depository institution at which the deposit is carried

24-13  or at which the credits or personal property is held.

24-14     7.  If any person notified by the notice of the delinquency

24-15  makes any transfer or other disposition of the property or debts

24-16  required to be withheld or transmitted, to the extent of the value of

24-17  the property or the amount of the debts thus transferred or paid, he is

24-18  liable to the State for any indebtedness due pursuant to this chapter,

24-19  [or] chapter 362, 364A, 369, 370, 372, 372A, 374, 377, 377A or

24-20  444A of NRS, NRS 482.313, or chapter 585 or 680B of NRS , or

24-21  sections 35 to 60, inclusive, of this act from the person with respect

24-22  to whose obligation the notice was given if solely by reason of

24-23  the transfer or other disposition the State is unable to recover the

24-24  indebtedness of the person with respect to whose obligation the

24-25  notice was given.

24-26     Sec. 70.  NRS 360.510 is hereby amended to read as follows:

24-27     360.510  1.  If any person is delinquent in the payment of any

24-28  tax or fee administered by the Department or if a determination has

24-29  been made against him which remains unpaid, the Department may:

24-30     (a) Not later than 3 years after the payment became delinquent

24-31  or the determination became final; or

24-32     (b) Not later than 6 years after the last recording of an abstract

24-33  of judgment or of a certificate constituting a lien for tax

24-34  owed,

24-35  give a notice of the delinquency and a demand to transmit

24-36  personally or by registered or certified mail to any person,

24-37  including, without limitation, any officer or department of this state

24-38  or any political subdivision or agency of this state, who has in his

24-39  possession or under his control any credits or other personal

24-40  property belonging to the delinquent, or owing any debts to the

24-41  delinquent or person against whom a determination has been made

24-42  which remains unpaid, or owing any debts to the delinquent or that

24-43  person. In the case of any state officer, department or agency, the

24-44  notice must be given to the officer, department or agency before

 

25-1  the Department presents the claim of the delinquent taxpayer to the

25-2  State Controller.

25-3      2.  A state officer, department or agency which receives such a

25-4  notice may satisfy any debt owed to it by that person before it

25-5  honors the notice of the Department.

25-6      3.  After receiving the demand to transmit, the person notified

25-7  by the demand may not transfer or otherwise dispose of the credits,

25-8  other personal property, or debts in his possession or under his

25-9  control at the time he received the notice until the Department

25-10  consents to a transfer or other disposition.

25-11     4.  Every person notified by a demand to transmit shall, within

25-12  10 days after receipt of the demand to transmit, inform the

25-13  Department of, and transmit to the Department all such credits,

25-14  other personal property, or debts in his possession, under his control

25-15  or owing by him within the time and in the manner requested by the

25-16  Department. Except as otherwise provided in subsection 5, no

25-17  further notice is required to be served to that person.

25-18     5.  If the property of the delinquent taxpayer consists of a series

25-19  of payments owed to him, the person who owes or controls the

25-20  payments shall transmit the payments to the Department until

25-21  otherwise notified by the Department. If the debt of the delinquent

25-22  taxpayer is not paid within 1 year after the Department issued the

25-23  original demand to transmit, the Department shall issue another

25-24  demand to transmit to the person responsible for making the

25-25  payments informing him to continue to transmit payments to

25-26  the Department or that his duty to transmit the payments to the

25-27  Department has ceased.

25-28     6.  If the notice of the delinquency seeks to prevent the transfer

25-29  or other disposition of a deposit in a bank or credit union or other

25-30  credits or personal property in the possession or under the control of

25-31  a bank, credit union or other depository institution, the notice must

25-32  be delivered or mailed to any branch or office of the bank, credit

25-33  union or other depository institution at which the deposit is carried

25-34  or at which the credits or personal property is held.

25-35     7.  If any person notified by the notice of the delinquency

25-36  makes any transfer or other disposition of the property or debts

25-37  required to be withheld or transmitted, to the extent of the value of

25-38  the property or the amount of the debts thus transferred or paid, he is

25-39  liable to the State for any indebtedness due pursuant to this chapter,

25-40  chapter 362, 364A, 369, 370, 372, 372A, 374, 377, 377A or 444A of

25-41  NRS, NRS 482.313, or chapter 585 or 680B of NRS, or sections 2

25-42  to 33, inclusive, or 35 to 60, inclusive, of this act from the person

25-43  with respect to whose obligation the notice was given if solely by

25-44  reason of the transfer or other disposition the State is unable to

26-1  recover the indebtedness of the person with respect to whose

26-2  obligation the notice was given.

26-3      Sec. 71.  NRS 360A.020 is hereby amended to read as follows:

26-4      360A.020  The Department shall adopt [such] :

26-5      1.  Such regulations as are necessary to carry out the provisions

26-6  of this chapter.

26-7      2.  Regulations providing for:

26-8      (a) The electronic submission of returns to the Department;

26-9  and

26-10     (b) The payment of any amount required to be paid pursuant

26-11  to this chapter, chapter 365, 366 or 373 of NRS, or NRS 590.120

26-12  or 590.840 to the Department through the use of credit cards, debit

26-13  cards and electronic transfers of money.

26-14     Sec. 72.  NRS 361.186 is hereby amended to read as follows:

26-15     361.186  1.  A taxpayer may collect an admission fee for the

26-16  exhibition of fine art otherwise exempt from taxation pursuant to

26-17  NRS 361.068 if the taxpayer offers to residents of the State of

26-18  Nevada a discount of 50 percent from any admission fee charged to

26-19  nonresidents. The discounted admission fee for residents must be

26-20  offered at any time the exhibition is open to the public and

26-21  admission fees are being charged.

26-22     2.  Except as otherwise provided in subsection 5, if a taxpayer

26-23  collects a fee for the exhibition of fine art otherwise exempt from

26-24  taxation pursuant to NRS 361.068, the exemption pertaining to that

26-25  fine art for the fiscal year must be reduced by the net revenue

26-26  derived by the taxpayer for that fiscal year. The exemption

26-27  pertaining to fine art for a particular fiscal year must not be reduced

26-28  below zero, regardless of the amount of the net revenue derived by

26-29  the taxpayer for that fiscal year.

26-30     3.  A tax resulting from the operation of this section is due with

26-31  the tax otherwise due under the taxpayer’s first statement filed

26-32  pursuant to NRS 361.265 after the 15th day of the fourth month

26-33  after the end of the fiscal year in which the net revenue was received

26-34  or, if no such statement is required to be filed, under a statement of

26-35  the net revenue filed on or before the last day of the fourth month

26-36  after the end of that fiscal year.

26-37     4.  A taxpayer who is required to pay a tax resulting from the

26-38  operation of this section may receive a credit against the tax for any

26-39  donations made by the taxpayer to the State Arts Council, the

26-40  Division of Museums and History Dedicated Trust Fund established

26-41  pursuant to NRS 381.0031, a museum that provides exhibits

26-42  specifically related to nature or a museum that provides exhibits

26-43  specifically related to children, if the taxpayer:

26-44     (a) Made the donation before the date that either statement

26-45  required pursuant to subsection 3 is due; and

27-1      (b) Provides to the county assessor documentation of the

27-2  donation at the time that he files the statement required pursuant to

27-3  subsection 3.

27-4      5.  If a taxpayer qualifies for and avails himself of both of the

27-5  exemptions from taxation provided by NRS 361.068 and 374.291,

27-6  the reduction of the exemptions by the net revenue derived by the

27-7  taxpayer, as required pursuant to subsection 2 of this section and

27-8  subsection 2 of NRS 374.2911, must be carried out in such a manner

27-9  that the total net revenue derived by the taxpayer is first applied to

27-10  reduce the exemption provided pursuant to NRS 374.291. If the net

27-11  revenue exceeds the amount of the exemption provided pursuant to

27-12  NRS 374.291, the remaining net revenue must be applied to reduce

27-13  the exemption provided pursuant to NRS 361.068. If the net revenue

27-14  is less than or equal to the exemption provided pursuant to NRS

27-15  374.291 for that fiscal year, the exemption provided pursuant to

27-16  NRS 361.068 must not be reduced.

27-17     6.  For the purposes of this section:

27-18     (a) “Direct costs of owning and exhibiting the fine art” does not

27-19  include any allocation of the general and administrative expense of a

27-20  business or organization that conducts activities in addition to the

27-21  operation of the facility in which the fine art is displayed, including,

27-22  without limitation, an allocation of the salary and benefits of a

27-23  senior executive who is responsible for the oversight of the facility

27-24  in which the fine art is displayed and who has substantial

27-25  responsibilities related to the other activities of the business or

27-26  organization.

27-27     (b) “Net revenue” means the amount of the fees collected for

27-28  exhibiting the fine art during that fiscal year less the following paid

27-29  or made during that fiscal year:

27-30         (1) Any taxes on those fees imposed pursuant to section 44

27-31  of this act;

27-32         (2) The direct costs of owning and exhibiting the fine art; and

27-33         [(2)] (3) The cost of educational programs associated with

27-34  the taxpayer’s public display of fine art, including the cost of

27-35  meeting the requirements of sub-subparagraph (IV) of subparagraph

27-36  (1) of paragraph (b) of subsection [5] 4 of NRS 361.068.

27-37     Sec. 73.  NRS 361.453 is hereby amended to read as follows:

27-38     361.453  1.  Except as otherwise provided in this section and

27-39  NRS 354.705, 354.723 and 450.760, the total ad valorem tax levy

27-40  for all public purposes must not exceed [$3.64] $3.14 on each $100

27-41  of assessed valuation, or a lesser or greater amount fixed by the

27-42  State Board of Examiners if the State Board of Examiners is

27-43  directed by law to fix a lesser or greater amount for that fiscal year.

27-44     2.  Any levy imposed by the Legislature for the repayment of

27-45  bonded indebtedness or the operating expenses of the State of

28-1  Nevada and any levy imposed by the board of county

28-2  commissioners pursuant to NRS 387.195 [that is in excess of 50

28-3  cents on each $100 of assessed valuation of taxable property within

28-4  the county] must not be included in calculating the limitation set

28-5  forth in subsection 1 on the total ad valorem tax levied within the

28-6  boundaries of the county, city or unincorporated town . [, if, in a

28-7  county whose population is 40,000 or less, or in a city or

28-8  unincorporated town located within that county:

28-9      (a) The combined tax rate certified by the Nevada Tax

28-10  Commission was at least $3.50 on each $100 of assessed valuation

28-11  on June 25, 1998;

28-12     (b) The governing body of that county, city or unincorporated

28-13  town proposes to its registered voters an additional levy ad valorem

28-14  above the total ad valorem tax levy for all public purposes set forth

28-15  in subsection 1;

28-16     (c) The proposal specifies the amount of money to be derived,

28-17  the purpose for which it is to be expended and the duration of the

28-18  levy; and

28-19     (d) The proposal is approved by a majority of the voters voting

28-20  on the question at a general election or a special election called for

28-21  that purpose.

28-22     3.  The duration of the additional levy ad valorem levied

28-23  pursuant to subsection 2 must not exceed 5 years. The governing

28-24  body of the county, city or unincorporated town may discontinue the

28-25  levy before it expires and may not thereafter reimpose it in whole or

28-26  in part without following the procedure required for its original

28-27  imposition set forth in subsection 2.

28-28     4.  A special election may be held pursuant to subsection 2 only

28-29  if the governing body of the county, city or unincorporated town

28-30  determines, by a unanimous vote, that an emergency exists. The

28-31  determination made by the governing body is conclusive unless it is

28-32  shown that the governing body acted with fraud or a gross abuse of

28-33  discretion. An action to challenge the determination made by the

28-34  governing body must be commenced within 15 days after the

28-35  governing body’s determination is final. As used in this subsection,

28-36  “emergency” means any unexpected occurrence or combination of

28-37  occurrences which requires immediate action by the governing body

28-38  of the county, city or unincorporated town to prevent or mitigate a

28-39  substantial financial loss to the county, city or unincorporated town

28-40  or to enable the governing body to provide an essential service to

28-41  the residents of the county, city or unincorporated town.]

28-42     Sec. 74.  NRS 361.4545 is hereby amended to read as follows:

28-43     361.4545  1.  On or before May 5 of each year or within 5

28-44  days after receiving the projections of revenue from the Department,

28-45  whichever is later, the ex officio tax receivers shall prepare and

29-1  cause to be published in a newspaper of general circulation in their

29-2  respective counties, a notice which contains at least the following

29-3  information:

29-4      (a) A statement that the notice is not a bill for taxes owed but an

29-5  informational notice. The notice must state:

29-6          (1) That public hearings will be held on the dates listed in the

29-7  notice to adopt budgets and tax rates for the fiscal year beginning on

29-8  July 1;

29-9          (2) That the purpose of the public hearings is to receive

29-10  opinions from members of the public on the proposed budgets and

29-11  tax rates before final action is taken thereon; and

29-12         (3) The tax rate to be imposed by the county and each

29-13  political subdivision within the county for the ensuing fiscal year if

29-14  the tentative budgets which affect the property in those areas

29-15  become final budgets.

29-16     (b) A brief description of the limitation imposed by the

29-17  Legislature on the revenue of the local governments.

29-18     (c) The dates, times and locations of all of the public hearings

29-19  on the tentative budgets which affect the taxes on property.

29-20     (d) The names and addresses of the county assessor and ex

29-21  officio tax receiver who may be consulted for further information.

29-22     (e) A brief statement of how property is assessed and how the

29-23  combined tax rate is determined.

29-24  The notice must be displayed in the format used for news and must

29-25  be printed on at least one-half of a page of the newspaper.

29-26     2.  Each ex officio tax receiver shall prepare and cause to be

29-27  published in a newspaper of general circulation within the county:

29-28     (a) A notice, displayed in the format used for news and printed

29-29  in not less than 8-point type, disclosing any increase in the property

29-30  taxes as a result of any change in the tentative budget.

29-31     (b) A notice, displayed in the format used for advertisements

29-32  and printed in not less than 8-point type on at least one quarter of a

29-33  page of the newspaper, disclosing any amount in cents on each $100

29-34  of assessed valuation by which the highest combined tax rate for

29-35  property in the county exceeds [$3.64] $3.14 on each $100 of

29-36  assessed valuation.

29-37  These notices must be published within 10 days after the receipt of

29-38  the information pursuant to NRS 354.596.

29-39     Sec. 75.  NRS 364A.040 is hereby amended to read as follows:

29-40     364A.040  1.  “Employee” includes:

29-41     (a) A natural person who receives wages or other remuneration

29-42  from a business for personal services, including commissions and

29-43  bonuses and remuneration payable in a medium other than cash; and

29-44     (b) A natural person engaged in the operation of a business.

29-45     2.  The term includes:

30-1      (a) [A] Each partner or other co-owner of a business; and

30-2      (b) Except as otherwise provided in subsection 3, a natural

30-3  person reported as an employee to the:

30-4          (1) Employment Security Division of the Department of

30-5  Employment, Training and Rehabilitation;

30-6          (2) Administrator of the Division of Industrial Relations of

30-7  the Department of Business and Industry; or

30-8          (3) Internal Revenue Service on an Employer’s Quarterly

30-9  Federal Tax Return (Form 941), Employer’s Monthly Federal Tax

30-10  Return (Form 941-M), Employer’s Annual Tax Return for

30-11  Agricultural Employees (Form 943) , or any equivalent or successor

30-12  form.

30-13     3.  The term does not include:

30-14     (a) A business, including an independent contractor, that

30-15  performs services on behalf of another business.

30-16     (b) A natural person who is retired or otherwise receiving

30-17  remuneration solely because of past service to the business.

30-18     (c) A newspaper carrier or the immediate supervisor of a

30-19  newspaper carrier who is an independent contractor of the

30-20  newspaper and receives compensation solely from persons who

30-21  purchase the newspaper.

30-22     (d) A natural person who performs all of his duties for the

30-23  business outside of this state.

30-24     4.  An independent contractor is not an employee of a business

30-25  with whom he contracts.

30-26     Sec. 76.  NRS 364A.130 is hereby amended to read as follows:

30-27     364A.130  1.  Except as otherwise provided in subsection [6,]

30-28  7, a person shall not conduct a business in this state unless he has a

30-29  business license issued by the Department.

30-30     2.  [The] An application for the issuance of a business license

30-31  must:

30-32     (a) Be made upon a form prescribed by the Department;

30-33     (b) Set forth the name under which the applicant transacts or

30-34  intends to transact business and the location of his place or places of

30-35  business;

30-36     (c) Declare the estimated number of employees for the previous

30-37  calendar quarter;

30-38     (d) Be accompanied by a fee of [$25;] $100; and

30-39     (e) Include any other information that the Department deems

30-40  necessary.

30-41     3.  The application must be signed by:

30-42     (a) The owner, if the business is owned by a natural person;

30-43     (b) A member or partner, if the business is owned by an

30-44  association or partnership; or

31-1      (c) An officer or some other person specifically authorized to

31-2  sign the application, if the business is owned by a corporation.

31-3      4.  If the application is signed pursuant to paragraph (c) of

31-4  subsection 3, written evidence of the signer’s authority must be

31-5  attached to the application.

31-6      5.  Each business license issued by the Department expires 1

31-7  year after the last day of the calendar month in which it was

31-8  issued and must be renewed annually on or before that date by the

31-9  payment of a renewal fee of $100.

31-10     6.  For the purposes of this chapter, a person shall be deemed to

31-11  conduct a business in this state if a business for which the person is

31-12  responsible:

31-13     (a) Is [incorporated] formed pursuant to [chapter 78 or 78A] title

31-14  7 of NRS;

31-15     (b) Has an office or other base of operations in this state; or

31-16     (c) Pays wages or other remuneration to a natural person who

31-17  performs in this state any of the duties for which he is paid.

31-18     [6.] 7.  A person who takes part in a trade show or convention

31-19  held in this state for a purpose related to the conduct of a business is

31-20  not required to obtain a business license specifically for that event.

31-21     Sec. 77.  NRS 364A.140 is hereby amended to read as follows:

31-22     364A.140  1.  A tax is hereby imposed upon the privilege of

31-23  conducting business in this state. Except as otherwise provided in

31-24  this section, the tax for each calendar quarter is due on the last day

31-25  of the quarter and must be paid on or before the last day of the

31-26  month immediately following the quarter on the basis of the total

31-27  number of equivalent full-time employees employed by the business

31-28  in the quarter.

31-29     2.  If the tax required to be paid by a business for a calendar

31-30  quarter pursuant to subsection 1 is less than $25, the business may

31-31  submit a written request to the Department to pay the tax annually

31-32  for each calendar quarter of a fiscal year ending June 30. Upon

31-33  approval of the request, the tax becomes due on the last day of the

31-34  fiscal year and must be paid on or before the last day of July

31-35  immediately following the fiscal year. If a business ceases operation

31-36  before the end of the fiscal year, the tax becomes due on the date on

31-37  which the business ceases its operation and must be paid on or

31-38  before the last day of the month immediately following the calendar

31-39  quarter in which the business ceases its operation. A business may

31-40  continue to pay the tax annually until the Department withdraws its

31-41  approval for the annual payment. The Department may withdraw its

31-42  approval at any time if it determines that the tax due for any

31-43  calendar quarter is at least $25.

32-1      3.  The total number of equivalent full-time employees

32-2  employed by a business in a quarter must be calculated pursuant to

32-3  NRS 364A.150.

32-4      4.  Except as otherwise provided in NRS 364A.152 and

32-5  364A.170, the amount of tax due for a business for each calendar

32-6  quarter is [$25] $75 for each equivalent full-time employee

32-7  employed by the business in the quarter.

32-8      5.  Each business shall file a return on a form prescribed by the

32-9  Department with each remittance of the tax. If the payment due is

32-10  greater than $1,000, the payment must be made by direct deposit at

32-11  a bank or credit union in which the State has an account, unless the

32-12  Department waives this requirement pursuant to regulations adopted

32-13  by the Commission. The return must include:

32-14     (a) If the tax is paid quarterly, a statement of the number of

32-15  equivalent full-time employees employed by the business in the

32-16  preceding quarter and any other information the Department

32-17  determines is necessary.

32-18     (b) If the tax is paid annually, a statement of the number of

32-19  equivalent full-time employees employed by the business for each

32-20  calendar quarter of the preceding fiscal year and any other

32-21  information the Department determines is necessary.

32-22     6.  The Commission shall adopt regulations concerning the

32-23  payment of the tax imposed pursuant to this section by direct

32-24  deposit.

32-25     Sec. 78.  NRS 364A.140 is hereby amended to read as follows:

32-26     364A.140  1.  A tax is hereby imposed upon the privilege of

32-27  conducting business in this state. Except as otherwise provided in

32-28  this section, the tax for each calendar quarter is due on the last day

32-29  of the quarter and must be paid on or before the last day of the

32-30  month immediately following the quarter on the basis of the total

32-31  number of equivalent full-time employees employed by the business

32-32  in the quarter.

32-33     2.  If the tax required to be paid by a business for a calendar

32-34  quarter pursuant to subsection 1 is less than $25, the business may

32-35  submit a written request to the Department to pay the tax annually

32-36  for each calendar quarter of a fiscal year ending June 30. Upon

32-37  approval of the request, the tax becomes due on the last day of the

32-38  fiscal year and must be paid on or before the last day of July

32-39  immediately following the fiscal year. If a business ceases operation

32-40  before the end of the fiscal year, the tax becomes due on the date on

32-41  which the business ceases its operation and must be paid on or

32-42  before the last day of the month immediately following the calendar

32-43  quarter in which the business ceases its operation. A business may

32-44  continue to pay the tax annually until the Department withdraws its

32-45  approval for the annual payment. The Department may withdraw its

33-1  approval at any time if it determines that the tax due for any

33-2  calendar quarter is at least $25.

33-3      3.  The total number of equivalent full-time employees

33-4  employed by a business in a quarter must be calculated pursuant to

33-5  NRS 364A.150.

33-6      4.  Except as otherwise provided in NRS 364A.152 and

33-7  364A.170, the amount of tax due for a business for each calendar

33-8  quarter is [$75] $20 for each equivalent full-time employee

33-9  employed by the business in the quarter.

33-10     5.  Each business shall file a return on a form prescribed by the

33-11  Department with each remittance of the tax. If the payment due is

33-12  greater than $1,000, the payment must be made by direct deposit at

33-13  a bank or credit union in which the State has an account, unless the

33-14  Department waives this requirement pursuant to regulations adopted

33-15  by the Commission. The return must include:

33-16     (a) If the tax is paid quarterly, a statement of the number of

33-17  equivalent full-time employees employed by the business in the

33-18  preceding quarter and any other information the Department

33-19  determines is necessary.

33-20     (b) If the tax is paid annually, a statement of the number of

33-21  equivalent full-time employees employed by the business for each

33-22  calendar quarter of the preceding fiscal year and any other

33-23  information the Department determines is necessary.

33-24     6.  The Commission shall adopt regulations concerning the

33-25  payment of the tax imposed pursuant to this section by direct

33-26  deposit.

33-27     Sec. 79.  NRS 364A.150 is hereby amended to read as follows:

33-28     364A.150  1.  The total number of equivalent full-time

33-29  employees employed by a business in a quarter must be calculated

33-30  by dividing the total number of hours all employees have worked

33-31  during the quarter by 468.

33-32     2.  To determine the total number of hours all employees have

33-33  worked during the quarter, the business must add the total number

33-34  of hours worked by full-time employees based in this state during

33-35  the quarter to the total number of hours worked by part-time

33-36  employees based in this state during the quarter and to the total

33-37  number of hours worked in this state by employees described in

33-38  subsection 6. A “full-time employee” is a person who is employed

33-39  to work at least 36 hours per week. All other employees are part-

33-40  time employees. An occasional reduction in the number of hours

33-41  actually worked in any week by a particular employee, as the result

33-42  of sickness, vacation or other compensated absence, does not affect

33-43  his status for the purposes of this section if his regular hours of work

33-44  are 36 or more per week. All hours for which a part-time employee

33-45  is paid must be included.

34-1      3.  Except as otherwise provided in subsection 7, the total

34-2  number of hours worked by full-time employees of a business

34-3  during the quarter may be calculated by:

34-4      (a) Determining from the records of the business the number of

34-5  hours each full-time employee has worked during the quarter up to a

34-6  maximum of 468 hours per quarter and totaling the results; or

34-7      (b) Multiplying 7.2 hours by the number of days each full-time

34-8  employee was employed by the business up to a maximum of 65

34-9  days per quarter and totaling the results.

34-10     4.  Except as otherwise provided in subsection 7, the total

34-11  number of hours worked by part-time employees of a business

34-12  during the quarter must be calculated by determining from the

34-13  records of the business the number of hours each part-time

34-14  employee has worked during the quarter and totaling the results.

34-15     5.  The total number of hours all employees have worked

34-16  during the quarter must be calculated [excluding] , including the

34-17  hours worked by a sole proprietor or one natural person in any

34-18  unincorporated business . [, who shall be deemed the owner of the

34-19  business rather than an employee.]

34-20     6.  To determine the total number of hours all employees have

34-21  worked during the quarter, in the case of a business which employs

34-22  a natural person at a base or business location outside Nevada, but

34-23  directs that person to perform at least some of his duties in Nevada,

34-24  the calculation must include the total number of hours actually

34-25  worked by that person in Nevada during the quarter. To calculate

34-26  the number of hours worked in Nevada, the formula in paragraph (b)

34-27  of subsection 3 must be used for full-time employees, and the

34-28  formula in subsection 4 must be used for part-time employees.

34-29     7.  Except as otherwise provided in subsection 8, if a business

34-30  employs in a calendar quarter a person whose monthly income for

34-31  that calendar quarter is 150 percent or less of the federally

34-32  designated level signifying poverty, the business may exclude the

34-33  total number of hours which the employee worked during that

34-34  calendar quarter in calculating the total number of hours worked by

34-35  employees of the business during the quarter if the business

34-36  provided to the employee for the whole calendar quarter:

34-37     (a) Free child care for the children of the employee at an on-site

34-38  child care facility; or

34-39     (b) One or more vouchers for use by the employee to pay the

34-40  total cost of child care for the calendar quarter at a licensed child

34-41  care facility that is within a reasonable distance from the business.

34-42     8.  The number of hours excluded pursuant to subsection 7 must

34-43  not reduce the total tax liability of the business by more than 50

34-44  percent.

35-1      9.  As used in this section, the term “on-site child care facility”

35-2  has the meaning ascribed to it in NRS 432A.0275.

35-3      Sec. 80.  NRS 369.174 is hereby amended to read as follows:

35-4      369.174  Each month, the State Controller shall transfer to the

35-5  Tax on Liquor Program Account in the State General Fund, from the

35-6  tax on liquor containing more than 22 percent of alcohol by volume,

35-7  the portion of the tax which exceeds [$1.90] $3.72 per wine gallon.

35-8      Sec. 81.  NRS 369.330 is hereby amended to read as follows:

35-9      369.330  Except as otherwise provided in this chapter, an excise

35-10  tax is hereby levied and must be collected respecting all liquor and

35-11  upon the privilege of importing, possessing, storing or selling liquor,

35-12  according to the following rates and classifications:

35-13     1.  On liquor containing more than 22 percent of alcohol by

35-14  volume, [$2.05] $3.87 per wine gallon or proportionate part thereof.

35-15     2.  On liquor containing more than 14 percent up to and

35-16  including 22 percent of alcohol by volume, [75 cents] $1.42 per

35-17  wine gallon or proportionate part thereof.

35-18     3.  On liquor containing from one-half of 1 percent up to and

35-19  including 14 percent of alcohol by volume, [40] 76 cents per wine

35-20  gallon or proportionate part thereof.

35-21     4.  On all malt beverage liquor brewed or fermented and bottled

35-22  in or outside this state, [9] 17 cents per gallon.

35-23     Sec. 82.  NRS 370.165 is hereby amended to read as follows:

35-24     370.165  There is hereby levied a tax upon the purchase or

35-25  possession of cigarettes by a consumer in the State of Nevada at the

35-26  rate of [17.5] 52.5 mills per cigarette. The tax may be represented

35-27  and precollected by the affixing of a revenue stamp or other

35-28  approved evidence of payment to each package, packet or container

35-29  in which cigarettes are sold. The tax must be precollected by the

35-30  wholesale or retail dealer, and must be recovered from the consumer

35-31  by adding the amount of the tax to the selling price. Each person

35-32  who sells cigarettes at retail shall prominently display on his

35-33  premises a notice that the tax is included in the selling price and is

35-34  payable under the provisions of this chapter.

35-35     Sec. 83.  NRS 370.260 is hereby amended to read as follows:

35-36     370.260  1.  All taxes and license fees imposed by the

35-37  provisions of NRS 370.001 to 370.430, inclusive, less any refunds

35-38  granted as provided by law, must be paid to the Department in the

35-39  form of remittances payable to the Department.

35-40     2.  The Department shall:

35-41     (a) As compensation to the state for the costs of collecting the

35-42  taxes and license fees, transmit each month the sum the Legislature

35-43  specifies from the remittances made to it pursuant to subsection 1

35-44  during the preceding month to the State Treasurer for deposit to the

36-1  credit of the Department. The deposited money must be expended

36-2  by the Department in accordance with its work program.

36-3      (b) From the remittances made to it pursuant to subsection 1

36-4  during the preceding month, less the amount transmitted pursuant to

36-5  paragraph (a), transmit each month the portion of the tax which is

36-6  equivalent to [12.5] 47.5 mills per cigarette to the State Treasurer

36-7  for deposit to the credit of the Account for the Tax on Cigarettes in

36-8  the State General Fund.

36-9      (c) Transmit the balance of the payments each month to the

36-10  State Treasurer for deposit in the Local Government Tax

36-11  Distribution Account created by NRS 360.660.

36-12     (d) Report to the State Controller monthly the amount of

36-13  collections.

36-14     3.  The money deposited pursuant to paragraph (c) of

36-15  subsection 2 in the Local Government Tax Distribution Account is

36-16  hereby appropriated to Carson City andto each of the counties in

36-17  proportion to their respective populations and must be credited to

36-18  the respective accounts of Carson City and each county.

36-19     Sec. 84.  NRS 370.350 is hereby amended to read as follows:

36-20     370.350  1.  Except as otherwise provided in subsection 3, a

36-21  tax is hereby levied and imposed upon the use of cigarettes in this

36-22  state.

36-23     2.  The amount of the use tax is [17.5] 52.5 mills per cigarette.

36-24     3.  The use tax does not apply where:

36-25     (a) Nevada cigarette revenue stamps have been affixed to

36-26  cigarette packages as required by law.

36-27     (b) Tax exemption is provided for in this chapter.

36-28     Sec. 85.  NRS 372.130 is hereby amended to read as follows:

36-29     372.130  At the time of making an application, the applicant

36-30  must pay to the Department a permit fee of [$1] $5 for each permit.

36-31     Sec. 86.  NRS 372.140 is hereby amended to read as follows:

36-32     372.140  A seller whose permit has been previously suspended

36-33  or revoked must pay the Department a fee of [$1] $5 for the renewal

36-34  or issuance of a permit.

36-35     Sec. 87.  NRS 372.370 is hereby amended to read as follows:

36-36     372.370  [The taxpayer shall] A taxpayer may, to reimburse

36-37  himself for the cost of collecting the tax, deduct and withhold from

36-38  the [taxes] amount of the tax otherwise due from him :

36-39     1.  If full payment is received by the Department within 7 days

36-40  after the end of the reporting period for which the payment is

36-41  made, 1.25 percent of [it to reimburse himself for the cost of

36-42  collecting the tax.] the amount otherwise due; and

36-43     2.  Except as otherwise provided in subsection 1, if full

36-44  payment is received by the Department on or before the last day of

37-1  the month immediately following the reporting period for which

37-2  the payment is made, 0.75 percent of the amount otherwise due.

37-3      Sec. 88.  NRS 374.135 is hereby amended to read as follows:

37-4      374.135  At the time of making an application, the applicant

37-5  shall pay to the Department a permit fee of [$1] $5 for each permit.

37-6      Sec. 89.  NRS 374.145 is hereby amended to read as follows:

37-7      374.145  A seller whose permit has been previously suspended

37-8  or revoked shall pay the Department a fee of [$1] $5 for the renewal

37-9  or issuance of a permit.

37-10     Sec. 90.  NRS 374.2911 is hereby amended to read as follows:

37-11     374.2911  1.  A taxpayer may collect an admission fee for the

37-12  exhibition of fine art otherwise exempt from taxation on its sale,

37-13  storage, use or other consumption pursuant to NRS 374.291 if the

37-14  taxpayer offers to residents of the State of Nevada a discount of 50

37-15  percent from any admission fee charged to nonresidents. The

37-16  discounted admission fee for residents must be offered at any time

37-17  the exhibition is open to the public and admission fees are being

37-18  charged.

37-19     2.  If a taxpayer collects a fee for the exhibition of fine art

37-20  otherwise exempt from taxation on its sale, storage, use or other

37-21  consumption pursuant to NRS 374.291 and the fee is collected

37-22  during the first full fiscal year after the purchase of the fine art, the

37-23  exemption pertaining to that fine art must be reduced by the net

37-24  revenue derived by the taxpayer for that first full fiscal year. The

37-25  exemption pertaining to fine art must not be reduced below zero,

37-26  regardless of the amount of the net revenue derived by the taxpayer

37-27  for that first full fiscal year.

37-28     3.  Any tax due pursuant to this section must be paid with the

37-29  first sales and use tax return otherwise required to be filed by the

37-30  taxpayer following the 15th day of the fourth month after the end of

37-31  the first full fiscal year following the purchase of the fine art or, if

37-32  no sales and use tax return is otherwise required to be filed by the

37-33  taxpayer, with a sales and use tax return filed specifically for this

37-34  purpose on or before the last day of the fourth month after the end of

37-35  the first full fiscal year following the purchase of the fine art.

37-36     4.  A taxpayer who is required to pay a tax resulting from the

37-37  operation of this section may receive a credit against the tax for any

37-38  donations made by the taxpayer to the State Arts Council, the

37-39  Division of Museums and History Dedicated Trust Fund established

37-40  pursuant to NRS 381.0031, a museum that provides exhibits

37-41  specifically related to nature or a museum that provides exhibits

37-42  specifically related to children, if the taxpayer:

37-43     (a) Made the donation before the date that either return required

37-44  pursuant to subsection 3 is due; and

38-1      (b) Provides the Department documentation of the donation at

38-2  the time that he files the return required pursuant to subsection 3.

38-3      5.  For the purposes of this section:

38-4      (a) “Direct costs of owning and exhibiting the fine art” does not

38-5  include any allocation of the general and administrative expense of a

38-6  business or organization that conducts activities in addition to the

38-7  operation of the facility in which the fine art is displayed, including,

38-8  without limitation, an allocation of the salary and benefits of a

38-9  senior executive who is responsible for the oversight of the facility

38-10  in which the fine art is displayed and who has substantial

38-11  responsibilities related to the other activities of the business or

38-12  organization.

38-13     (b) “Net revenue” means the amount of the fees collected for

38-14  exhibiting the fine art during the fiscal year less the following paid

38-15  or made during the fiscal year:

38-16         (1) Any taxes on those fees imposed pursuant to section 44

38-17  of this act;

38-18         (2) The direct costs of owning and exhibiting the fine art; and

38-19         [(2)] (3) The cost of educational programs associated with

38-20  the taxpayer’s public display of fine art, including the cost of

38-21  meeting the requirements of subsubparagraph (IV) of subparagraph

38-22  (1) of paragraph (a) of subsection 4 of NRS 374.291.

38-23     Sec. 91.  NRS 374.375 is hereby amended to read as follows:

38-24     374.375  [The taxpayer shall] A taxpayer may, to reimburse

38-25  himself for the cost of collecting the tax, deduct and withhold from

38-26  the [taxes] amount of the tax otherwise due from him :

38-27     1.  If full payment is received by the Department within 7 days

38-28  after the end of the reporting period for which the payment is

38-29  made, 1.25 percent [thereof to reimburse himself for the cost of

38-30  collecting the tax.] of the amount otherwise due; and

38-31     2.  Except as otherwise provided in subsection 1, if full

38-32  payment is received by the Department on or before the last day of

38-33  the month immediately following the reporting period for which

38-34  the payment is made, 0.75 percent of the amount otherwise due.

38-35     Sec. 92.  NRS 14.030 is hereby amended to read as follows:

38-36     14.030  1.  If any artificial person described in NRS 14.020

38-37  fails to appoint a resident agent, or fails to file a certificate of

38-38  acceptance of appointment for 30 days after a vacancy occurs in the

38-39  agency, on the production of a certificate of the Secretary of State

38-40  showing either fact, which is conclusive evidence of the fact so

38-41  certified to be made a part of the return of service, the artificial

38-42  person may be served with any and all legal process, or a demand or

38-43  notice described in NRS 14.020, by delivering a copy to the

38-44  Secretary of State, or, in his absence, to any deputy secretary of

39-1  state, and such service is valid to all intents and purposes. The copy

39-2  must:

39-3      (a) Include a specific citation to the provisions of this section.

39-4  The Secretary of State may refuse to accept such service if the

39-5  proper citation is not included.

39-6      (b) Be accompanied by a fee of [$10.] $15.

39-7  The Secretary of State shall keep a copy of the legal process

39-8  received pursuant to this section in his office for at least 1 year after

39-9  receipt thereof and shall make those records available for public

39-10  inspection during normal business hours.

39-11     2.  In all cases of such service, the defendant has 40 days,

39-12  exclusive of the day of service, within which to answer or plead.

39-13     3.  Before such service is authorized, the plaintiff shall make or

39-14  cause to be made and filed an affidavit setting forth the facts,

39-15  showing that due diligence has been used to ascertain the

39-16  whereabouts of the officers of the artificial person to be served, and

39-17  the facts showing that direct or personal service on, or notice to, the

39-18  artificial person cannot be had.

39-19     4.  If it appears from the affidavit that there is a last known

39-20  address of the artificial person or any known officers thereof, the

39-21  plaintiff shall, in addition to and after such service on the Secretary

39-22  of State, mail or cause to be mailed to the artificial person or to the

39-23  known officer, at such address, by registered or certified mail, a

39-24  copy of the summons and a copy of the complaint, and in all such

39-25  cases the defendant has 40 days after the date of the mailing within

39-26  which to appear in the action.

39-27     5.  This section provides an additional manner of serving

39-28  process[,] and does not affect the validity of any other valid service.

39-29     Sec. 93.  NRS 78.0295 is hereby amended to read as follows:

39-30     78.0295  1.  A corporation may correct a document filed by

39-31  the Secretary of State with respect to the corporation if the

39-32  document contains an inaccurate record of a corporate action

39-33  described in the document or was defectively executed, attested,

39-34  sealed, verified or acknowledged.

39-35     2.  To correct a document, the corporation shall:

39-36     (a) Prepare a certificate of correction which:

39-37         (1) States the name of the corporation;

39-38         (2) Describes the document, including, without limitation, its

39-39  filing date;

39-40         (3) Specifies the inaccuracy or defect;

39-41         (4) Sets forth the inaccurate or defective portion of the

39-42  document in an accurate or corrected form; and

39-43         (5) Is signed by an officer of the corporation.

39-44     (b) Deliver the certificate to the Secretary of State for filing.

39-45     (c) Pay a filing fee of [$150] $225 to the Secretary of State.

40-1      3.  A certificate of correction is effective on the effective date

40-2  of the document it corrects except as to persons relying on the

40-3  uncorrected document and adversely affected by the correction. As

40-4  to those persons, the certificate is effective when filed.

40-5      Sec. 94.  NRS 78.150 is hereby amended to read as follows:

40-6      78.150  1.  A corporation organized pursuant to the laws of

40-7  this state shall, on or before the first day of the second month after

40-8  the filing of its articles of incorporation with the Secretary of State,

40-9  file with the Secretary of State a list, on a form furnished by him,

40-10  containing:

40-11     (a) The name of the corporation;

40-12     (b) The file number of the corporation, if known;

40-13     (c) The names and titles of the president, secretary, treasurer and

40-14  of all the directors of the corporation;

40-15     (d) The mailing or street address, either residence or business, of

40-16  each officer and director listed, following the name of the officer or

40-17  director;

40-18     (e) The name and street address of the resident agent of the

40-19  corporation; and

40-20     (f) The signature of an officer of the corporation certifying that

40-21  the list is true, complete and accurate.

40-22     2.  The corporation shall annually thereafter, on or before the

40-23  last day of the month in which the anniversary date of incorporation

40-24  occurs in each year, file with the Secretary of State, on a form

40-25  furnished by him, an annual list containing all of the information

40-26  required in subsection 1.

40-27     3.  Each list required by subsection 1 or 2 must be accompanied

40-28  by a declaration under penalty of perjury that the corporation has

40-29  complied with the provisions of chapter 364A of NRS.

40-30     4.  Upon filing the list required by:

40-31     (a) Subsection 1, the corporation shall pay to the Secretary of

40-32  State a fee of [$165.] $250.

40-33     (b) Subsection 2, the corporation shall pay to the Secretary of

40-34  State a fee of [$85.] $130.

40-35     5.  The Secretary of State shall, 60 days before the last day for

40-36  filing each annual list required by subsection 2, cause to be mailed

40-37  to each corporation which is required to comply with the provisions

40-38  of NRS 78.150 to 78.185, inclusive, and which has not become

40-39  delinquent, a notice of the fee due pursuant to subsection 4 and a

40-40  reminder to file the annual list required by subsection 2. Failure of

40-41  any corporation to receive a notice or form does not excuse it from

40-42  the penalty imposed by law.

40-43     6.  If the list to be filed pursuant to the provisions of subsection

40-44  1 or 2 is defective in any respect or the fee required by subsection 4

41-1  or 8 is not paid, the Secretary of State may return the list for

41-2  correction or payment.

41-3      7.  An annual list for a corporation not in default which is

41-4  received by the Secretary of State more than 60 days before its due

41-5  date shall be deemed an amended list for the previous year and must

41-6  be accompanied by a fee of [$85] $130 for filing. A payment

41-7  submitted pursuant to this subsection does not satisfy the

41-8  requirements of subsection 2 for the year to which the due date is

41-9  applicable.

41-10     8.  If the corporation is an association as defined in NRS

41-11  116.110315, the Secretary of State shall not accept the filing

41-12  required by this section unless it is accompanied by evidence of the

41-13  payment of the fee required to be paid pursuant to NRS 116.31155

41-14  that is provided to the association pursuant to subsection 4 of that

41-15  section.

41-16     Sec. 95.  NRS 78.170 is hereby amended to read as follows:

41-17     78.170  1.  Each corporation required to make a filing and pay

41-18  the fee prescribed in NRS 78.150 to 78.185, inclusive, which refuses

41-19  or neglects to do so within the time provided shall be deemed in

41-20  default.

41-21     2.  For default there must be added to the amount of the fee a

41-22  penalty of [$50.] $75. The fee and penalty must be collected as

41-23  provided in this chapter.

41-24     Sec. 96.  NRS 78.180 is hereby amended to read as follows:

41-25     78.180  1.  Except as otherwise provided in subsections 3 and

41-26  4, the Secretary of State shall reinstate a corporation which has

41-27  forfeited its right to transact business pursuant to the provisions of

41-28  this chapter and restore to the corporation its right to carry on

41-29  business in this state, and to exercise its corporate privileges and

41-30  immunities, if it:

41-31     (a) Files with the Secretary of State the list required by NRS

41-32  78.150; and

41-33     (b) Pays to the Secretary of State:

41-34         (1) The filing fee and penalty set forth in NRS 78.150 and

41-35  78.170 for each year or portion thereof during which it failed to file

41-36  each required annual list in a timely manner; and

41-37         (2) A fee of [$200] $300 for reinstatement.

41-38     2.  When the Secretary of State reinstates the corporation, he

41-39  shall:

41-40     (a) Immediately issue and deliver to the corporation a certificate

41-41  of reinstatement authorizing it to transact business as if the filing fee

41-42  or fees had been paid when due; and

41-43     (b) Upon demand, issue to the corporation one or more certified

41-44  copies of the certificate of reinstatement.

42-1      3.  The Secretary of State shall not order a reinstatement unless

42-2  all delinquent fees and penalties have been paid, and the revocation

42-3  of the charter occurred only by reason of failure to pay the fees and

42-4  penalties.

42-5      4.  If a corporate charter has been revoked pursuant to the

42-6  provisions of this chapter and has remained revoked for a period of

42-7  5 consecutive years, the charter must not be reinstated.

42-8      Sec. 97.  NRS 78.390 is hereby amended to read as follows:

42-9      78.390  1.  Every amendment adopted pursuant to the

42-10  provisions of NRS 78.385 must be made in the following manner:

42-11     (a) The board of directors must adopt a resolution setting forth

42-12  the amendment proposed and declaring its advisability, and either

42-13  call a special meeting of the stockholders entitled to vote on the

42-14  amendment or direct that the proposed amendment be considered at

42-15  the next annual meeting of the stockholders entitled to vote on the

42-16  amendment.

42-17     (b) At the meeting, of which notice must be given to each

42-18  stockholder entitled to vote pursuant to the provisions of this

42-19  section, a vote of the stockholders entitled to vote in person or by

42-20  proxy must be taken for and against the proposed amendment. If it

42-21  appears upon the canvassing of the votes that stockholders holding

42-22  shares in the corporation entitling them to exercise at least a

42-23  majority of the voting power, or such greater proportion of the

42-24  voting power as may be required in the case of a vote by classes or

42-25  series, as provided in subsections 2 and 4, or as may be required by

42-26  the provisions of the articles of incorporation, have voted in favor of

42-27  the amendment, an officer of the corporation shall sign a certificate

42-28  setting forth the amendment, or setting forth the articles of

42-29  incorporation as amended, and the vote by which the amendment

42-30  was adopted.

42-31     (c) The certificate so signed must be filed with the Secretary of

42-32  State.

42-33     2.  If any proposed amendment would adversely alter or change

42-34  any preference or any relative or other right given to any class or

42-35  series of outstanding shares, then the amendment must be approved

42-36  by the vote, in addition to the affirmative vote otherwise required, of

42-37  the holders of shares representing a majority of the voting power of

42-38  each class or series adversely affected by the amendment regardless

42-39  of limitations or restrictions on the voting power thereof.

42-40     3.  Provision may be made in the articles of incorporation

42-41  requiring, in the case of any specified amendments, a larger

42-42  proportion of the voting power of stockholders than that required by

42-43  this section.

42-44     4.  Different series of the same class of shares do not constitute

42-45  different classes of shares for the purpose of voting by classes

43-1  except when the series is adversely affected by an amendment in a

43-2  different manner than other series of the same class.

43-3      5.  The resolution of the stockholders approving the proposed

43-4  amendment may provide that at any time before the effective date of

43-5  the amendment, notwithstanding approval of the proposed

43-6  amendment by the stockholders, the board of directors may, by

43-7  resolution, abandon the proposed amendment without further action

43-8  by the stockholders.

43-9      6.  A certificate filed pursuant to subsection 1 becomes

43-10  effective upon filing with the Secretary of State or upon a later date

43-11  specified in the certificate, which must not be later than 90 days

43-12  after the certificate is filed.

43-13     7.  If a certificate filed pursuant to subsection 1 specifies an

43-14  effective date and if the resolution of the stockholders approving the

43-15  proposed amendment provides that the board of directors may

43-16  abandon the proposed amendment pursuant to subsection 5, the

43-17  board of directors may terminate the effectiveness of the certificate

43-18  by resolution and by filing a certificate of termination with the

43-19  Secretary of State that:

43-20     (a) Is filed before the effective date specified in the certificate

43-21  filed pursuant to subsection 1;

43-22     (b) Identifies the certificate being terminated;

43-23     (c) States that, pursuant to the resolution of the stockholders, the

43-24  board of directors is authorized to terminate the effectiveness of the

43-25  certificate;

43-26     (d) States that the effectiveness of the certificate has been

43-27  terminated;

43-28     (e) Is signed by an officer of the corporation; and

43-29     (f) Is accompanied by a filing fee of [$150.] $225.

43-30     Sec. 98.  NRS 78.760 is hereby amended to read as follows:

43-31     78.760  1.  The fee for filing articles of incorporation is

43-32  prescribed in the following schedule:

 

43-33  If the amount represented by the total number of

43-34  shares provided for in the articles is:

43-35  $75,000 or less.................... [$175] $265

43-36  Over $75,000 and not over $200,000[225] 340

43-37  Over $200,000 and not over $500,000[325] 490

43-38  Over $500,000 and not over $1,000,000[425] 640

43-39  Over $1,000,000:

43-40  For the first $1,000,000...... [425] 640

43-41  For each additional $500,000 or fraction

43-42  thereof.................................. [225] 340

 

44-1      2.  The maximum fee which may be charged pursuant to this

44-2  section is [$25,000] $37,500 for:

44-3      (a) The original filing of articles of incorporation.

44-4      (b) A subsequent filing of any instrument which authorizes an

44-5  increase in stock.

44-6      3.  For the purposes of computing the filing fees according to

44-7  the schedule in subsection 1, the amount represented by the total

44-8  number of shares provided for in the articles of incorporation is:

44-9      (a) The aggregate par value of the shares, if only shares with a

44-10  par value are therein provided for;

44-11     (b) The product of the number of shares multiplied by $1,

44-12  regardless of any lesser amount prescribed as the value or

44-13  consideration for which shares may be issued and disposed of, if

44-14  only shares without par value are therein provided for; or

44-15     (c) The aggregate par value of the shares with a par value plus

44-16  the product of the number of shares without par value multiplied by

44-17  $1, regardless of any lesser amount prescribed as the value or

44-18  consideration for which the shares without par value may be issued

44-19  and disposed of, if shares with and without par value are therein

44-20  provided for.

44-21  For the purposes of this subsection, shares with no prescribed par

44-22  value shall be deemed shares without par value.

44-23     4.  The Secretary of State shall calculate filing fees pursuant to

44-24  this section with respect to shares with a par value of less than one-

44-25  tenth of a cent as if the par value were one-tenth of a cent.

44-26     Sec. 99.  NRS 78.765 is hereby amended to read as follows:

44-27     78.765  1.  The fee for filing a certificate changing the number

44-28  of authorized shares pursuant to NRS 78.209 or a certificate of

44-29  amendment to articles of incorporation that increases the

44-30  corporation’s authorized stock or a certificate of correction that

44-31  increases the corporation’s authorized stock is the difference

44-32  between the fee computed at the rates specified in NRS 78.760 upon

44-33  the total authorized stock of the corporation, including the proposed

44-34  increase, and the fee computed at the rates specified in NRS 78.760

44-35  upon the total authorized capital, excluding the proposed increase.

44-36  In no case may the amount be less than [$150.] $225.

44-37     2.  The fee for filing a certificate of amendment to articles of

44-38  incorporation that does not increase the corporation’s authorized

44-39  stock or a certificate of correction that does not increase the

44-40  corporation’s authorized stock is [$150.] $225.

44-41     3.  The fee for filing a certificate or an amended certificate

44-42  pursuant to NRS 78.1955 is [$150.] $225.

44-43     4.  The fee for filing a certificate of termination pursuant to

44-44  NRS 78.1955, 78.209 or 78.380 is [$150.] $225.

 

45-1      Sec. 100.  NRS 78.767 is hereby amended to read as follows:

45-2      78.767  1.  The fee for filing a certificate of restated articles of

45-3  incorporation that does not increase the corporation’s authorized

45-4  stock is [$150.] $225.

45-5      2.  The fee for filing a certificate of restated articles of

45-6  incorporation that increases the corporation’s authorized stock is the

45-7  difference between the fee computed pursuant to NRS 78.760 based

45-8  upon the total authorized stock of the corporation, including the

45-9  proposed increase, and the fee computed pursuant to NRS 78.760

45-10  based upon the total authorized stock of the corporation, excluding

45-11  the proposed increase. In no case may the amount be less than

45-12  [$150.] $225.

45-13     Sec. 101.  NRS 78.780 is hereby amended to read as follows:

45-14     78.780  1.  The fee for filing a certificate of extension of

45-15  corporate existence of any corporation is an amount equal to one-

45-16  fourth of the fee computed at the rates specified in NRS 78.760 for

45-17  filing articles of incorporation.

45-18     2.  The fee for filing a certificate of dissolution whether it

45-19  occurs before or after the payment of capital and beginning of

45-20  business is [$60.] $90.

45-21     Sec. 102.  NRS 78.785 is hereby amended to read as follows:

45-22     78.785  1.  The fee for filing a certificate of change of location

45-23  of a corporation’s registered office and resident agent, or a new

45-24  designation of resident agent, is [$30.] $45.

45-25     2.  The fee for certifying articles of incorporation where a copy

45-26  is provided is [$20.] $30.

45-27     3.  The fee for certifying a copy of an amendment to articles of

45-28  incorporation, or to a copy of the articles as amended, where a copy

45-29  is furnished, is [$20.] $30.

45-30     4.  The fee for certifying an authorized printed copy of the

45-31  general corporation law as compiled by the Secretary of State is

45-32  [$20.] $30.

45-33     5.  The fee for reserving a corporate name is [$20.] $30.

45-34     6.  The fee for executing a certificate of corporate existence

45-35  which does not list the previous documents relating to the

45-36  corporation, or a certificate of change in a corporate name, is

45-37  [$40.] $60.

45-38     7.  The fee for executing a certificate of corporate existence

45-39  which lists the previous documents relating to the corporation is

45-40  [$40.] $60.

45-41     8.  The fee for executing, certifying or filing any certificate or

45-42  document not provided for in NRS 78.760 to 78.785, inclusive, is

45-43  [$40.] $60.

45-44     9.  The fee for copies made at the Office of the Secretary of

45-45  State is [$1] $1.50 per page.

46-1      10.  The fees for filing articles of incorporation, articles of

46-2  merger, or certificates of amendment increasing the basic surplus of

46-3  a mutual or reciprocal insurer must be computed pursuant to NRS

46-4  78.760, 78.765 and 92A.210, on the basis of the amount of basic

46-5  surplus of the insurer.

46-6      11.  The fee for examining and provisionally approving any

46-7  document at any time before the document is presented for filing is

46-8  [$100.] $150.

46-9      Sec. 103.  NRS 78.795 is hereby amended to read as follows:

46-10     78.795  1.  Any natural person or corporation residing or

46-11  located in this state may, on or after January 1 of any year but before

46-12  January 31 of that year, register his willingness to serve as the

46-13  resident agent of a domestic or foreign corporation, limited-liability

46-14  company or limited partnership with the Secretary of State. The

46-15  registration must be accompanied by a fee of [$250] $375 per office

46-16  location of the resident agent.

46-17     2.  The Secretary of State shall maintain a list of those persons

46-18  who are registered pursuant to subsection 1 and make the list

46-19  available to persons seeking to do business in this state.

46-20     Sec. 104.  NRS 80.050 is hereby amended to read as follows:

46-21     80.050  1.  Except as otherwise provided in subsection 3,

46-22  foreign corporations shall pay the same fees to the Secretary of State

46-23  as are required to be paid by corporations organized pursuant to the

46-24  laws of this state, but the amount of fees to be charged must not

46-25  exceed:

46-26     (a) The sum of [$25,000] $37,500 for filing documents for

46-27  initial qualification; or

46-28     (b) The sum of [$25,000] $37,500 for each subsequent filing of

46-29  a certificate increasing authorized capital stock.

46-30     2.  If the corporate documents required to be filed set forth only

46-31  the total number of shares of stock the corporation is authorized to

46-32  issue without reference to value, the authorized shares shall be

46-33  deemed to be without par value and the filing fee must be computed

46-34  pursuant to paragraph (b) of subsection 3 of NRS 78.760.

46-35     3.  Foreign corporations which are nonprofit corporations and

46-36  do not have or issue shares of stock shall pay the same fees to the

46-37  Secretary of State as are required to be paid by nonprofit

46-38  corporations organized pursuant to the laws of this state.

46-39     4.  The fee for filing a notice of withdrawal from the State of

46-40  Nevada by a foreign corporation is [$60.] $90.

46-41     Sec. 105.  NRS 80.110 is hereby amended to read as follows:

46-42     80.110  1.  Each foreign corporation doing business in this

46-43  state shall, on or before the first day of the second month after the

46-44  filing of its certificate of corporate existence with the Secretary of

46-45  State, and annually thereafter on or before the last day of the month

47-1  in which the anniversary date of its qualification to do business in

47-2  this state occurs in each year, file with the Secretary of State a list,

47-3  on a form furnished by him, that contains:

47-4      (a) The names of its president, secretary and treasurer or their

47-5  equivalent, and all of its directors;

47-6      (b) A designation of its resident agent in this state; and

47-7      (c) The signature of an officer of the corporation.

47-8  Each list filed pursuant to this subsection must be accompanied by a

47-9  declaration under penalty of perjury that the foreign corporation has

47-10  complied with the provisions of chapter 364A of NRS.

47-11     2.  Upon filing:

47-12     (a) The initial list required by subsection 1, the corporation shall

47-13  pay to the Secretary of State a fee of [$165.] $250.

47-14     (b) Each annual list required by subsection 1, the corporation

47-15  shall pay to the Secretary of State a fee of [$85.] $130.

47-16     3.  The Secretary of State shall, 60 days before the last day for

47-17  filing each annual list required by subsection 1, cause to be mailed

47-18  to each corporation required to comply with the provisions of NRS

47-19  80.110 to 80.170, inclusive, which has not become delinquent, the

47-20  blank forms to be completed and filed with him. Failure of any

47-21  corporation to receive the forms does not excuse it from the penalty

47-22  imposed by the provisions of NRS 80.110 to 80.170, inclusive.

47-23     4.  An annual list for a corporation not in default which is

47-24  received by the Secretary of State more than 60 days before its due

47-25  date shall be deemed an amended list for the previous year and does

47-26  not satisfy the requirements of subsection 1 for the year to which the

47-27  due date is applicable.

47-28     Sec. 106.  NRS 80.150 is hereby amended to read as follows:

47-29     80.150  1.  Any corporation required to make a filing and pay

47-30  the fee prescribed in NRS 80.110 to 80.170, inclusive, which refuses

47-31  or neglects to do so within the time provided[,] is in default.

47-32     2.  For default there must be added to the amount of the fee a

47-33  penalty of [$50,] $75, and unless the filing is made and the fee and

47-34  penalty are paid on or before the first day of the ninth month

47-35  following the month in which filing was required, the defaulting

47-36  corporation by reason of its default forfeits its right to transact any

47-37  business within this state. The fee and penalty must be collected as

47-38  provided in this chapter.

47-39     Sec. 107.  NRS 80.170 is hereby amended to read as follows:

47-40     80.170  1.  Except as otherwise provided in subsections 3 and

47-41  4, the Secretary of State shall reinstate a corporation which has

47-42  forfeited or which forfeits its right to transact business under the

47-43  provisions of this chapter and restore to the corporation its right to

47-44  transact business in this state, and to exercise its corporate privileges

47-45  and immunities if it:

48-1      (a) Files with the Secretary of State a list as provided in NRS

48-2  80.110 and 80.140; and

48-3      (b) Pays to the Secretary of State:

48-4          (1) The filing fee and penalty set forth in NRS 80.110 and

48-5  80.150 for each year or portion thereof that its right to transact

48-6  business was forfeited; and

48-7          (2) A fee of [$200] $300 for reinstatement.

48-8      2.  If payment is made and the Secretary of State reinstates the

48-9  corporation to its former rights, he shall:

48-10     (a) Immediately issue and deliver to the corporation so

48-11  reinstated a certificate of reinstatement authorizing it to transact

48-12  business in the same manner as if the filing fee had been paid when

48-13  due; and

48-14     (b) Upon demand, issue to the corporation one or more certified

48-15  copies of the certificate of reinstatement.

48-16     3.  The Secretary of State shall not order a reinstatement unless

48-17  all delinquent fees and penalties have been paid, and the revocation

48-18  of the right to transact business occurred only by reason of failure to

48-19  pay the fees and penalties.

48-20     4.  If the right of a corporation to transact business in this state

48-21  has been forfeited pursuant to the provisions of NRS 80.160 and has

48-22  remained forfeited for a period of 5 consecutive years, the right is

48-23  not subject to reinstatement.

48-24     Sec. 108.  NRS 82.193 is hereby amended to read as follows:

48-25     82.193  1.  A corporation shall have a resident agent in the

48-26  manner provided in NRS 78.090, 78.095, 78.097 and 78.110. The

48-27  resident agent and the corporation shall comply with the provisions

48-28  of those sections.

48-29     2.  A corporation is subject to the provisions of NRS 78.150 to

48-30  78.185, inclusive, except that:

48-31     (a) The fee for filing a list is [$15;] $25;

48-32     (b) The penalty added for default is [$5;] $10; and

48-33     (c) The fee for reinstatement is [$25.] $40.

48-34     Sec. 109.  NRS 82.531 is hereby amended to read as follows:

48-35     82.531  1.  The fee for filing articles of incorporation,

48-36  amendments to or restatements of articles of incorporation,

48-37  certificates pursuant to NRS 82.061 and 82.063 and documents for

48-38  dissolution is [$25] $40 for each document.

48-39     2.  Except as otherwise provided in NRS 82.193 and subsection

48-40  1, the fees for filing documents are those set forth in NRS 78.765 to

48-41  78.785, inclusive.

48-42     Sec. 110.  NRS 84.090 is hereby amended to read as follows:

48-43     84.090  1.  The fee for filing articles of incorporation,

48-44  amendments to or restatements of articles of incorporation,

49-1  certificates of reinstatement and documents for dissolution is [$25]

49-2  $40 for each document.

49-3      2.  Except as otherwise provided in this chapter, the fees set

49-4  forth in NRS 78.785 apply to this chapter.

49-5      Sec. 111.  NRS 84.130 is hereby amended to read as follows:

49-6      84.130  1.  Each corporation sole that is required to make the

49-7  filings and pay the fees prescribed in this chapter but refuses or

49-8  neglects to do so within the time provided is in default.

49-9      2.  For default, there must be added to the amount of the fee a

49-10  penalty of [$5.] $10. The fee and penalty must be collected as

49-11  provided in this chapter.

49-12     Sec. 112.  NRS 84.150 is hereby amended to read as follows:

49-13     84.150  1.  Except as otherwise provided in subsections 3 and

49-14  4, the Secretary of State shall reinstate any corporation sole which

49-15  has forfeited its right to transact business under the provisions of

49-16  this chapter and restore the right to carry on business in this state

49-17  and exercise its corporate privileges and immunities, if it:

49-18     (a) Files with the Secretary of State a certificate of acceptance of

49-19  appointment executed by the resident agent of the corporation; and

49-20     (b) Pays to the Secretary of State:

49-21         (1) The filing fees and penalties set forth in this chapter for

49-22  each year or portion thereof during which its charter has been

49-23  revoked; and

49-24         (2) A fee of [$25] $40 for reinstatement.

49-25     2.  When the Secretary of State reinstates the corporation to its

49-26  former rights, he shall:

49-27     (a) Immediately issue and deliver to the corporation a certificate

49-28  of reinstatement authorizing it to transact business, as if the fees had

49-29  been paid when due; and

49-30     (b) Upon demand, issue to the corporation a certified copy of the

49-31  certificate of reinstatement.

49-32     3.  The Secretary of State shall not order a reinstatement unless

49-33  all delinquent fees and penalties have been paid, and the revocation

49-34  of its charter occurred only by reason of its failure to pay the fees

49-35  and penalties.

49-36     4.  If a corporate charter has been revoked pursuant to the

49-37  provisions of this chapter and has remained revoked for 10

49-38  consecutive years, the charter must not be reinstated.

49-39     Sec. 113.  NRS 86.226 is hereby amended to read as follows:

49-40     86.226  1.  A signed certificate of amendment, or a certified

49-41  copy of a judicial decree of amendment, must be filed with the

49-42  Secretary of State. A person who executes a certificate as an agent,

49-43  officer or fiduciary of the limited-liability company need not exhibit

49-44  evidence of his authority as a prerequisite to filing. Unless the

50-1  Secretary of State finds that a certificate does not conform to law,

50-2  upon his receipt of all required filing fees he shall file the certificate.

50-3      2.  A certificate of amendment or judicial decree of amendment

50-4  is effective upon filing with the Secretary of State or upon a later

50-5  date specified in the certificate or judicial decree, which must not be

50-6  more than 90 days after the certificate or judicial decree is filed.

50-7      3.  If a certificate specifies an effective date and if the

50-8  resolution of the members approving the proposed amendment

50-9  provides that one or more managers or, if management is not vested

50-10  in a manager, one or more members may abandon the proposed

50-11  amendment, then those managers or members may terminate the

50-12  effectiveness of the certificate by filing a certificate of termination

50-13  with the Secretary of State that:

50-14     (a) Is filed before the effective date specified in the certificate or

50-15  judicial decree filed pursuant to subsection 1;

50-16     (b) Identifies the certificate being terminated;

50-17     (c) States that, pursuant to the resolution of the members, the

50-18  manager of the company or, if management is not vested in a

50-19  manager, a designated member is authorized to terminate the

50-20  effectiveness of the certificate;

50-21     (d) States that the effectiveness of the certificate has been

50-22  terminated;

50-23     (e) Is signed by a manager of the company or, if management is

50-24  not vested in a manager, a designated member; and

50-25     (f) Is accompanied by a filing fee of [$150.] $225.

50-26     Sec. 114.  NRS 86.263 is hereby amended to read as follows:

50-27     86.263  1.  A limited-liability company shall, on or before the

50-28  first day of the second month after the filing of its articles of

50-29  organization with the Secretary of State, file with the Secretary of

50-30  State, on a form furnished by him, a list that contains:

50-31     (a) The name of the limited-liability company;

50-32     (b) The file number of the limited-liability company, if known;

50-33     (c) The names and titles of all of its managers or, if there is no

50-34  manager, all of its managing members;

50-35     (d) The mailing or street address, either residence or business, of

50-36  each manager or managing member listed, following the name of

50-37  the manager or managing member;

50-38     (e) The name and street address of the resident agent of the

50-39  limited-liability company; and

50-40     (f) The signature of a manager or managing member of the

50-41  limited-liability company certifying that the list is true, complete

50-42  and accurate.

50-43     2.  The limited-liability company shall annually thereafter, on

50-44  or before the last day of the month in which the anniversary date of

50-45  its organization occurs, file with the Secretary of State, on a form

51-1  furnished by him, an amended list containing all of the information

51-2  required in subsection 1. If the limited-liability company has had no

51-3  changes in its managers or, if there is no manager, its managing

51-4  members, since its previous list was filed, no amended list need be

51-5  filed if a manager or managing member of the limited-liability

51-6  company certifies to the Secretary of State as a true and accurate

51-7  statement that no changes in the managers or managing members

51-8  have occurred.

51-9      3.  Each list required by subsection 1 and each list or

51-10  certification required by subsection 2 must be accompanied by a

51-11  declaration under penalty of perjury that the limited-liability

51-12  company has complied with the provisions of chapter 364A of NRS.

51-13     4.  Upon filing:

51-14     (a) The initial list required by subsection 1, the limited-liability

51-15  company shall pay to the Secretary of State a fee of [$165.] $250.

51-16     (b) Each annual list required by subsection 2 or certifying that

51-17  no changes have occurred, the limited-liability company shall pay to

51-18  the Secretary of State a fee of [$85.] $130.

51-19     5.  The Secretary of State shall, 60 days before the last day for

51-20  filing each list required by subsection 2, cause to be mailed to each

51-21  limited-liability company required to comply with the provisions of

51-22  this section, which has not become delinquent, a notice of the fee

51-23  due under subsection 4 and a reminder to file a list required by

51-24  subsection 2 or a certification of no change. Failure of any company

51-25  to receive a notice or form does not excuse it from the penalty

51-26  imposed by law.

51-27     6.  If the list to be filed pursuant to the provisions of subsection

51-28  1 or 2 is defective or the fee required by subsection 4 is not paid, the

51-29  Secretary of State may return the list for correction or payment.

51-30     7.  An annual list for a limited-liability company not in default

51-31  received by the Secretary of State more than 60 days before its due

51-32  date shall be deemed an amended list for the previous year.

51-33     Sec. 115.  NRS 86.272 is hereby amended to read as follows:

51-34     86.272  1.  Each limited-liability company required to make a

51-35  filing and pay the fee prescribed in NRS 86.263 which refuses or

51-36  neglects to do so within the time provided is in default.

51-37     2.  For default there must be added to the amount of the fee a

51-38  penalty of [$50.] $75. The fee and penalty must be collected as

51-39  provided in this chapter.

51-40     Sec. 116.  NRS 86.276 is hereby amended to read as follows:

51-41     86.276  1.  Except as otherwise provided in subsections 3 and

51-42  4, the Secretary of State shall reinstate any limited-liability company

51-43  which has forfeited its right to transact business pursuant to the

51-44  provisions of this chapter and restore to the company its right to

52-1  carry on business in this state, and to exercise its privileges and

52-2  immunities, if it:

52-3      (a) Files with the Secretary of State the list required by NRS

52-4  86.263; and

52-5      (b) Pays to the Secretary of State:

52-6          (1) The filing fee and penalty set forth in NRS 86.263 and

52-7  86.272 for each year or portion thereof during which it failed to file

52-8  in a timely manner each required annual list; and

52-9          (2) A fee of [$200] $300 for reinstatement.

52-10     2.  When the Secretary of State reinstates the limited-liability

52-11  company, he shall:

52-12     (a) Immediately issue and deliver to the company a certificate of

52-13  reinstatement authorizing it to transact business as if the filing fee

52-14  had been paid when due; and

52-15     (b) Upon demand, issue to the company one or more certified

52-16  copies of the certificate of reinstatement.

52-17     3.  The Secretary of State shall not order a reinstatement unless

52-18  all delinquent fees and penalties have been paid, and the revocation

52-19  of the charter occurred only by reason of failure to pay the fees and

52-20  penalties.

52-21     4.  If a company’s charter has been revoked pursuant to the

52-22  provisions of this chapter and has remained revoked for a period of

52-23  5 consecutive years, the charter must not be reinstated.

52-24     Sec. 117.  NRS 86.561 is hereby amended to read as follows:

52-25     86.561  1.  The Secretary of State shall charge and collect for:

52-26     (a) Filing the original articles of organization, or for registration

52-27  of a foreign company, [$175;] $265;

52-28     (b) Amending or restating the articles of organization, amending

52-29  the registration of a foreign company or filing a certificate of

52-30  correction, [$150;] $225;

52-31     (c) Filing the articles of dissolution of a domestic or foreign

52-32  company, [$60;] $90;

52-33     (d) Filing a statement of change of address of a records or

52-34  registered office, or change of the resident agent, [$30;] $45;

52-35     (e) Certifying articles of organization or an amendment to the

52-36  articles, in both cases where a copy is provided, [$20;] $30;

52-37     (f) Certifying an authorized printed copy of this chapter,

52-38  [$20;] $30;

52-39     (g) Reserving a name for a limited-liability company,

52-40  [$20;] $30;

52-41     (h) Filing a certificate of cancellation, [$60;] $90;

52-42     (i) Executing, filing or certifying any other document, [$40;]

52-43  $60; and

52-44     (j) Copies made at the Office of the Secretary of State, [$1]

52-45  $1.50 per page.

53-1      2.  The Secretary of State shall charge and collect at the time of

53-2  any service of process on him as agent for service of process of a

53-3  limited-liability company, [$10] $15 which may be recovered as

53-4  taxable costs by the party to the action causing the service to be

53-5  made if the party prevails in the action.

53-6      3.  Except as otherwise provided in this section, the fees set

53-7  forth in NRS 78.785 apply to this chapter.

53-8      Sec. 118.  NRS 86.568 is hereby amended to read as follows:

53-9      86.568  1.  A limited-liability company may correct a

53-10  document filed by the Secretary of State with respect to the limited-

53-11  liability company if the document contains an inaccurate record of a

53-12  company action described in the document or was defectively

53-13  executed, attested, sealed, verified or acknowledged.

53-14     2.  To correct a document, the limited-liability company must:

53-15     (a) Prepare a certificate of correction that:

53-16         (1) States the name of the limited-liability company;

53-17         (2) Describes the document, including, without limitation, its

53-18  filing date;

53-19         (3) Specifies the inaccuracy or defect;

53-20         (4) Sets forth the inaccurate or defective portion of the

53-21  document in an accurate or corrected form; and

53-22         (5) Is signed by a manager of the company, or if

53-23  management is not vested in a manager, by a member of the

53-24  company.

53-25     (b) Deliver the certificate to the Secretary of State for filing.

53-26     (c) Pay a filing fee of [$150] $225 to the Secretary of State.

53-27     3.  A certificate of correction is effective on the effective date

53-28  of the document it corrects except as to persons relying on the

53-29  uncorrected document and adversely affected by the correction. As

53-30  to those persons, the certificate is effective when filed.

53-31     Sec. 119.  NRS 87.440 is hereby amended to read as follows:

53-32     87.440  1.  To become a registered limited-liability

53-33  partnership, a partnership shall file with the Secretary of State a

53-34  certificate of registration stating each of the following:

53-35     (a) The name of the partnership.

53-36     (b) The street address of its principal office.

53-37     (c) The name of the person designated as the partnership’s

53-38  resident agent, the street address of the resident agent where process

53-39  may be served upon the partnership and the mailing address of the

53-40  resident agent if it is different than his street address.

53-41     (d) The name and business address of each managing partner in

53-42  this state.

53-43     (e) A brief statement of the professional service rendered by the

53-44  partnership.

54-1      (f) That the partnership thereafter will be a registered limited-

54-2  liability partnership.

54-3      (g) Any other information that the partnership wishes to include.

54-4      2.  The certificate of registration must be executed by a majority

54-5  in interest of the partners or by one or more partners authorized to

54-6  execute such a certificate.

54-7      3.  The certificate of registration must be accompanied by a fee

54-8  of [$175.] $265.

54-9      4.  The Secretary of State shall register as a registered limited-

54-10  liability partnership any partnership that submits a completed

54-11  certificate of registration with the required fee.

54-12     5.  The registration of a registered limited-liability partnership

54-13  is effective at the time of the filing of the certificate of registration.

54-14     Sec. 120.  NRS 87.460 is hereby amended to read as follows:

54-15     87.460  1.  A certificate of registration of a registered limited-

54-16  liability partnership may be amended by filing with the Secretary of

54-17  State a certificate of amendment. The certificate of amendment must

54-18  set forth:

54-19     (a) The name of the registered limited-liability partnership;

54-20     (b) The dates on which the registered limited-liability

54-21  partnership filed its original certificate of registration and any other

54-22  certificates of amendment; and

54-23     (c) The change to the information contained in the original

54-24  certificate of registration or any other certificates of amendment.

54-25     2.  The certificate of amendment must be:

54-26     (a) Signed by a managing partner of the registered limited-

54-27  liability partnership; and

54-28     (b) Accompanied by a fee of [$150.] $225.

54-29     Sec. 121.  NRS 87.470 is hereby amended to read as follows:

54-30     87.470  The registration of a registered limited-liability

54-31  partnership is effective until:

54-32     1.  Its certificate of registration is revoked pursuant to NRS

54-33  87.520; or

54-34     2.  The registered limited-liability partnership files with the

54-35  Secretary of State a written notice of withdrawal executed by a

54-36  managing partner. The notice must be accompanied by a fee of

54-37  [$60.] $90.

54-38     Sec. 122.  NRS 87.490 is hereby amended to read as follows:

54-39     87.490  1.  If a registered limited-liability partnership wishes

54-40  to change the location of its principal office in this state or its

54-41  resident agent, it shall first file with the Secretary of State a

54-42  certificate of change that sets forth:

54-43     (a) The name of the registered limited-liability partnership;

54-44     (b) The street address of its principal office;

55-1      (c) If the location of its principal office will be changed, the

55-2  street address of its new principal office;

55-3      (d) The name of its resident agent; and

55-4      (e) If its resident agent will be changed, the name of its new

55-5  resident agent.

55-6  The certificate of acceptance of its new resident agent must

55-7  accompany the certificate of change.

55-8      2.  A certificate of change filed pursuant to this section must be:

55-9      (a) Signed by a managing partner of the registered limited-

55-10  liability partnership; and

55-11     (b) Accompanied by a fee of [$30.] $45.

55-12     Sec. 123.  NRS 87.510 is hereby amended to read as follows:

55-13     87.510  1.  A registered limited-liability partnership shall, on

55-14  or before the first day of the second month after the filing of its

55-15  certificate of registration with the Secretary of State, and annually

55-16  thereafter on or before the last day of the month in which the

55-17  anniversary date of the filing of its certificate of registration with the

55-18  Secretary of State occurs, file with the Secretary of State, on a form

55-19  furnished by him, a list that contains:

55-20     (a) The name of the registered limited-liability partnership;

55-21     (b) The file number of the registered limited-liability

55-22  partnership, if known;

55-23     (c) The names of all of its managing partners;

55-24     (d) The mailing or street address, either residence or business, of

55-25  each managing partner;

55-26     (e) The name and street address of the resident agent of the

55-27  registered limited-liability partnership; and

55-28     (f) The signature of a managing partner of the registered limited-

55-29  liability partnership certifying that the list is true, complete and

55-30  accurate.

55-31  Each list filed pursuant to this subsection must be accompanied by a

55-32  declaration under penalty of perjury that the registered limited-

55-33  liability partnership has complied with the provisions of chapter

55-34  364A of NRS.

55-35     2.  Upon filing:

55-36     (a) The initial list required by subsection 1, the registered

55-37  limited-liability partnership shall pay to the Secretary of State a fee

55-38  of [$165.] $250.

55-39     (b) Each annual list required by subsection 1, the registered

55-40  limited-liability partnership shall pay to the Secretary of State a fee

55-41  of [$85.] $130.

55-42     3.  The Secretary of State shall, at least 60 days before the last

55-43  day for filing each annual list required by subsection 1, cause to be

55-44  mailed to the registered limited-liability partnership a notice of the

55-45  fee due pursuant to subsection 2 and a reminder to file the annual

56-1  list required by subsection 1. The failure of any registered limited-

56-2  liability partnership to receive a notice or form does not excuse it

56-3  from complying with the provisions of this section.

56-4      4.  If the list to be filed pursuant to the provisions of subsection

56-5  1 is defective, or the fee required by subsection 2 is not paid, the

56-6  Secretary of State may return the list for correction or payment.

56-7      5.  An annual list that is filed by a registered limited-liability

56-8  partnership which is not in default more than 60 days before it is due

56-9  shall be deemed an amended list for the previous year and does not

56-10  satisfy the requirements of subsection 1 for the year to which the

56-11  due date is applicable.

56-12     Sec. 124.  NRS 87.520 is hereby amended to read as follows:

56-13     87.520  1.  A registered limited-liability partnership that fails

56-14  to comply with the provisions of NRS 87.510 is in default.

56-15     2.  Any registered limited-liability partnership that is in default

56-16  pursuant to subsection 1 must, in addition to the fee required to be

56-17  paid pursuant to NRS 87.510, pay a penalty of [$50.] $75.

56-18     3.  On or before the 15th day of the third month after the month

56-19  in which the fee required to be paid pursuant to NRS 87.510 is due,

56-20  the Secretary of State shall notify, by certified mail, the resident

56-21  agent of any registered limited-liability partnership that is in default.

56-22  The notice must include the amount of any payment that is due from

56-23  the registered limited-liability partnership.

56-24     4.  If a registered limited-liability partnership fails to pay the

56-25  amount that is due, the certificate of registration of the registered

56-26  limited-liability partnership shall be deemed revoked on the first day

56-27  of the ninth month after the month in which the fee required to be

56-28  paid pursuant to NRS 87.510 was due. The Secretary of State shall

56-29  notify a registered limited-liability partnership, by certified mail,

56-30  addressed to its resident agent or, if the registered limited-liability

56-31  partnership does not have a resident agent, to a managing partner,

56-32  that its certificate of registration is revoked and the amount of any

56-33  fees and penalties that are due.

56-34     Sec. 125.  NRS 87.530 is hereby amended to read as follows:

56-35     87.530  1.  Except as otherwise provided in subsection 3, the

56-36  Secretary of State shall reinstate the certificate of registration of a

56-37  registered limited-liability partnership that is revoked pursuant to

56-38  NRS 87.520 if the registered limited-liability partnership:

56-39     (a) Files with the Secretary of State the information required by

56-40  NRS 87.510; and

56-41     (b) Pays to the Secretary of State:

56-42         (1) The fee required to be paid by that section;

56-43         (2) Any penalty required to be paid pursuant to NRS 87.520;

56-44  and

56-45         (3) A reinstatement fee of [$200.] $300.

57-1      2.  Upon reinstatement of a certificate of registration pursuant

57-2  to this section, the Secretary of State shall:

57-3      (a) Deliver to the registered limited-liability partnership a

57-4  certificate of reinstatement authorizing it to transact business

57-5  retroactively from the date the fee required by NRS 87.510 was due;

57-6  and

57-7      (b) Upon request, issue to the registered limited-liability

57-8  partnership one or more certified copies of the certificate of

57-9  reinstatement.

57-10     3.  The Secretary of State shall not reinstate the certificate of

57-11  registration of a registered limited-liability partnership if the

57-12  certificate was revoked pursuant to NRS 87.520 at least 5 years

57-13  before the date of the proposed reinstatement.

57-14     Sec. 126.  NRS 87.547 is hereby amended to read as follows:

57-15     87.547  1.  A limited-liability partnership may correct a

57-16  document filed by the Secretary of State with respect to the limited-

57-17  liability partnership if the document contains an inaccurate record of

57-18  a partnership action described in the document or was defectively

57-19  executed, attested, sealed, verified or acknowledged.

57-20     2.  To correct a document, the limited-liability partnership

57-21  must:

57-22     (a) Prepare a certificate of correction that:

57-23         (1) States the name of the limited-liability partnership;

57-24         (2) Describes the document, including, without limitation, its

57-25  filing date;

57-26         (3) Specifies the inaccuracy or defect;

57-27         (4) Sets forth the inaccurate or defective portion of the

57-28  document in an accurate or corrected form; and

57-29         (5) Is signed by a managing partner of the limited-liability

57-30  partnership.

57-31     (b) Deliver the certificate to the Secretary of State for filing.

57-32     (c) Pay a filing fee of [$150] $225 to the Secretary of State.

57-33     3.  A certificate of correction is effective on the effective date

57-34  of the document it corrects except as to persons relying on the

57-35  uncorrected document and adversely affected by the correction. As

57-36  to those persons, the certificate is effective when filed.

57-37     Sec. 127.  NRS 87.550 is hereby amended to read as follows:

57-38     87.550  In addition to any other fees required by NRS 87.440 to

57-39  87.540, inclusive, and 87.560, the Secretary of State shall charge

57-40  and collect the following fees for services rendered pursuant to

57-41  those sections:

57-42     1.  For certifying documents required by NRS 87.440 to 87.540,

57-43  inclusive, and 87.560, [$20] $30 per certification.

57-44     2.  For executing a certificate verifying the existence of a

57-45  registered limited-liability partnership, if the registered limited-

58-1  liability partnership has not filed a certificate of amendment,

58-2  [$40.] $60.

58-3      3.  For executing a certificate verifying the existence of a

58-4  registered limited-liability partnership, if the registered limited-

58-5  liability partnership has filed a certificate of amendment, [$40.] $60.

58-6      4.  For executing, certifying or filing any certificate or

58-7  document not required by NRS 87.440 to 87.540, inclusive, and

58-8  87.560, [$40.] $60.

58-9      5.  For any copies made by the Office of the Secretary of State,

58-10  [$1] $1.50 per page.

58-11     6.  For examining and provisionally approving any document

58-12  before the document is presented for filing, [$100.] $150.

58-13     Sec. 128.  NRS 88.339 is hereby amended to read as follows:

58-14     88.339  1.  A limited partnership may correct a document filed

58-15  by the Secretary of State with respect to the limited partnership if

58-16  the document contains an inaccurate record of a partnership action

58-17  described in the document or was defectively executed, attested,

58-18  sealed, verified or acknowledged.

58-19     2.  To correct a document, the limited partnership must:

58-20     (a) Prepare a certificate of correction that:

58-21         (1) States the name of the limited partnership;

58-22         (2) Describes the document, including, without limitation, its

58-23  filing date;

58-24         (3) Specifies the inaccuracy or defect;

58-25         (4) Sets forth the inaccurate or defective portion of the

58-26  document in an accurate or corrected form; and

58-27         (5) Is signed by a general partner of the limited partnership.

58-28     (b) Deliver the certificate to the Secretary of State for filing.

58-29     (c) Pay a filing fee of [$150] $225 to the Secretary of State.

58-30     3.  A certificate of correction is effective on the effective date

58-31  of the document it corrects except as to persons relying on the

58-32  uncorrected document and adversely affected by the correction. As

58-33  to those persons, the certificate is effective when filed.

58-34     Sec. 129.  NRS 88.395 is hereby amended to read as follows:

58-35     88.395  1.  A limited partnership shall, on or before the first

58-36  day of the second month after the filing of its certificate of limited

58-37  partnership with the Secretary of State, and annually thereafter on or

58-38  before the last day of the month in which the anniversary date of the

58-39  filing of its certificate of limited partnership occurs, file with the

58-40  Secretary of State, on a form furnished by him, a list that contains:

58-41     (a) The name of the limited partnership;

58-42     (b) The file number of the limited partnership, if known;

58-43     (c) The names of all of its general partners;

58-44     (d) The mailing or street address, either residence or business, of

58-45  each general partner;

59-1      (e) The name and street address of the resident agent of the

59-2  limited partnership; and

59-3      (f) The signature of a general partner of the limited partnership

59-4  certifying that the list is true, complete and accurate.

59-5  Each list filed pursuant to this subsection must be accompanied by a

59-6  declaration under penalty of perjury that the limited partnership has

59-7  complied with the provisions of chapter 364A of NRS.

59-8      2.  Upon filing:

59-9      (a) The initial list required by subsection 1, the limited

59-10  partnership shall pay to the Secretary of State a fee of [$165.] $250.

59-11     (b) Each annual list required by subsection 1, the limited

59-12  partnership shall pay to the Secretary of State a fee of [$85.] $130.

59-13     3.  The Secretary of State shall, 60 days before the last day for

59-14  filing each annual list required by subsection 1, cause to be mailed

59-15  to each limited partnership required to comply with the provisions

59-16  of this section which has not become delinquent a notice of the fee

59-17  due pursuant to the provisions of subsection 2 and a reminder to file

59-18  the annual list. Failure of any limited partnership to receive a notice

59-19  or form does not excuse it from the penalty imposed by

59-20  NRS 88.400.

59-21     4.  If the list to be filed pursuant to the provisions of subsection

59-22  1 is defective or the fee required by subsection 2 is not paid, the

59-23  Secretary of State may return the list for correction or payment.

59-24     5.  An annual list for a limited partnership not in default that is

59-25  received by the Secretary of State more than 60 days before its due

59-26  date shall be deemed an amended list for the previous year and does

59-27  not satisfy the requirements of subsection 1 for the year to which the

59-28  due date is applicable.

59-29     6.  A filing made pursuant to this section does not satisfy the

59-30  provisions of NRS 88.355 and may not be substituted for filings

59-31  submitted pursuant to NRS 88.355.

59-32     Sec. 130.  NRS 88.400 is hereby amended to read as follows:

59-33     88.400  1.  If a limited partnership has filed the list in

59-34  compliance with NRS 88.395 and has paid the appropriate fee for

59-35  the filing, the canceled check received by the limited partnership

59-36  constitutes a certificate authorizing it to transact its business within

59-37  this state until the anniversary date of the filing of its certificate of

59-38  limited partnership in the next succeeding calendar year. If the

59-39  limited partnership desires a formal certificate upon its payment of

59-40  the annual fee, its payment must be accompanied by a self-

59-41  addressed, stamped envelope.

59-42     2.  Each limited partnership which refuses or neglects to file the

59-43  list and pay the fee within the time provided is in default.

59-44     3.  For default there must be added to the amount of the fee a

59-45  penalty of [$50,] $75, and unless the filings are made and the fee

60-1  and penalty are paid on or before the first day of the first

60-2  anniversary of the month following the month in which filing was

60-3  required, the defaulting limited partnership, by reason of its default,

60-4  forfeits its right to transact any business within this state.

60-5      Sec. 131.  NRS 88.410 is hereby amended to read as follows:

60-6      88.410  1.  Except as otherwise provided in subsections 3 and

60-7  4, the Secretary of State may:

60-8      (a) Reinstate any limited partnership which has forfeited its right

60-9  to transact business; and

60-10     (b) Restore to the limited partnership its right to carry on

60-11  business in this state, and to exercise its privileges and

60-12  immunities,

60-13  upon the filing with the Secretary of State of the list required

60-14  pursuant to NRS 88.395, and upon payment to the Secretary of State

60-15  of the filing fee and penalty set forth in NRS 88.395 and 88.400 for

60-16  each year or portion thereof during which the certificate has been

60-17  revoked, and a fee of [$200] $300 for reinstatement.

60-18     2.  When payment is made and the Secretary of State reinstates

60-19  the limited partnership to its former rights, he shall:

60-20     (a) Immediately issue and deliver to the limited partnership a

60-21  certificate of reinstatement authorizing it to transact business as if

60-22  the filing fee had been paid when due; and

60-23     (b) Upon demand, issue to the limited partnership one or more

60-24  certified copies of the certificate of reinstatement.

60-25     3.  The Secretary of State shall not order a reinstatement unless

60-26  all delinquent fees and penalties have been paid, and the revocation

60-27  occurred only by reason of failure to pay the fees and penalties.

60-28     4.  If a limited partnership’s certificate has been revoked

60-29  pursuant to the provisions of this chapter and has remained revoked

60-30  for a period of 5 years, the certificate must not be reinstated.

60-31     Sec. 132.  NRS 88.415 is hereby amended to read as follows:

60-32     88.415  The Secretary of State, for services relating to his

60-33  official duties and the records of his office, shall charge and collect

60-34  the following fees:

60-35     1.  For filing a certificate of limited partnership, or for

60-36  registering a foreign limited partnership, [$175.] $265.

60-37     2.  For filing a certificate of amendment of limited partnership

60-38  or restated certificate of limited partnership, [$150.] $225.

60-39     3.  For filing a certificate of a change of location of the records

60-40  office of a limited partnership or the office of its resident agent, or a

60-41  designation of a new resident agent, [$30.] $45.

60-42     4.  For certifying a certificate of limited partnership, an

60-43  amendment to the certificate, or a certificate as amended where a

60-44  copy is provided, [$20] $30 per certification.

61-1      5.  For certifying an authorized printed copy of the limited

61-2  partnership law, [$20.] $30.

61-3      6.  For reserving a limited partnership name, or for executing,

61-4  filing or certifying any other document, [$20.] $30.

61-5      7.  For copies made at the Office of the Secretary of State, [$1]

61-6  $1.50 per page.

61-7      8.  For filing a certificate of cancellation of a limited

61-8  partnership, [$60.] $90.

61-9  Except as otherwise provided in this section, the fees set forth in

61-10  NRS 78.785 apply to this chapter.

61-11     Sec. 133.  NRS 88A.600 is hereby amended to read as follows:

61-12     88A.600  1.  A business trust formed pursuant to this chapter

61-13  shall, on or before the first day of the second month after the filing

61-14  of its certificate of trust with the Secretary of State, and annually

61-15  thereafter on or before the last day of the month in which the

61-16  anniversary date of the filing of its certificate of trust with the

61-17  Secretary of State occurs, file with the Secretary of State, on a form

61-18  furnished by him, a list signed by at least one trustee that contains

61-19  the name and mailing address of its resident agent and at least one

61-20  trustee. Each list filed pursuant to this subsection must be

61-21  accompanied by a declaration under penalty of perjury that the

61-22  business trust has complied with the provisions of chapter 364A of

61-23  NRS.

61-24     2.  Upon filing:

61-25     (a) The initial list required by subsection 1, the business trust

61-26  shall pay to the Secretary of State a fee of [$165.] $250.

61-27     (b) Each annual list required by subsection 1, the business trust

61-28  shall pay to the Secretary of State a fee of [$85.] $130.

61-29     3.  The Secretary of State shall, 60 days before the last day for

61-30  filing each annual list required by subsection 1, cause to be mailed

61-31  to each business trust which is required to comply with the

61-32  provisions of NRS 88A.600 to 88A.660, inclusive, and which has

61-33  not become delinquent, the blank forms to be completed and filed

61-34  with him. Failure of a business trust to receive the forms does not

61-35  excuse it from the penalty imposed by law.

61-36     4.  An annual list for a business trust not in default which is

61-37  received by the Secretary of State more than 60 days before its due

61-38  date shall be deemed an amended list for the previous year.

61-39     Sec. 134.  NRS 88A.630 is hereby amended to read as follows:

61-40     88A.630  1.  Each business trust required to file the list and

61-41  pay the fee prescribed in NRS 88A.600 to 88A.660, inclusive,

61-42  which refuses or neglects to do so within the time provided shall be

61-43  deemed in default.

62-1      2.  For default, there must be added to the amount of the fee a

62-2  penalty of [$50.] $75. The fee and penalty must be collected as

62-3  provided in this chapter.

62-4      Sec. 135.  NRS 88A.650 is hereby amended to read as follows:

62-5      88A.650  1.  Except as otherwise provided in subsection 3, the

62-6  Secretary of State shall reinstate a business trust which has forfeited

62-7  its right to transact business pursuant to the provisions of this

62-8  chapter and restore to the business trust its right to carry on business

62-9  in this state, and to exercise its privileges and immunities, if it:

62-10     (a) Files with the Secretary of State the list required by NRS

62-11  88A.600; and

62-12     (b) Pays to the Secretary of State:

62-13         (1) The filing fee and penalty set forth in NRS 88A.600 and

62-14  88A.630 for each year or portion thereof during which its certificate

62-15  of trust was revoked; and

62-16         (2) A fee of [$200] $300 for reinstatement.

62-17     2.  When the Secretary of State reinstates the business trust, he

62-18  shall:

62-19     (a) Immediately issue and deliver to the business trust a

62-20  certificate of reinstatement authorizing it to transact business as if

62-21  the filing fee had been paid when due; and

62-22     (b) Upon demand, issue to the business trust one or more

62-23  certified copies of the certificate of reinstatement.

62-24     3.  The Secretary of State shall not order a reinstatement unless

62-25  all delinquent fees and penalties have been paid, and the revocation

62-26  of the certificate of trust occurred only by reason of the failure to

62-27  file the list or pay the fees and penalties.

62-28     Sec. 136.  NRS 88A.900 is hereby amended to read as follows:

62-29     88A.900  The Secretary of State shall charge and collect the

62-30  following fees for:

62-31     1.  Filing an original certificate of trust, or for registering a

62-32  foreign business trust, [$175.] $265.

62-33     2.  Filing an amendment or restatement, or a combination

62-34  thereof, to a certificate of trust, [$150.] $225.

62-35     3.  Filing a certificate of cancellation, [$175.] $265.

62-36     4.  Certifying a copy of a certificate of trust or an amendment or

62-37  restatement, or a combination thereof, [$20] $30 per certification.

62-38     5.  Certifying an authorized printed copy of this chapter,

62-39  [$20.] $30.

62-40     6.  Reserving a name for a business trust, [$20.] $30.

62-41     7.  Executing a certificate of existence of a business trust which

62-42  does not list the previous documents relating to it, or a certificate of

62-43  change in the name of a business trust, [$40.] $60.

62-44     8.  Executing a certificate of existence of a business trust which

62-45  lists the previous documents relating to it, [$40.] $60.

63-1      9.  Filing a statement of change of address of the registered

63-2  office for each business trust, [$30.] $45.

63-3      10.  Filing a statement of change of the registered agent,

63-4  [$30.] $45.

63-5      11.  Executing, certifying or filing any certificate or document

63-6  not otherwise provided for in this section, [$40.] $60.

63-7      12.  Examining and provisionally approving a document before

63-8  the document is presented for filing, [$100.] $150.

63-9      13.  Copying a document on file with him, for each page, [$1.]

63-10  $1.50.

63-11     Sec. 137.  NRS 88A.930 is hereby amended to read as follows:

63-12     88A.930  1.  A business trust may correct a document filed by

63-13  the Secretary of State with respect to the business trust if the

63-14  document contains an inaccurate record of a trust action described in

63-15  the document or was defectively executed, attested, sealed, verified

63-16  or acknowledged.

63-17     2.  To correct a document, the business trust must:

63-18     (a) Prepare a certificate of correction that:

63-19         (1) States the name of the business trust;

63-20         (2) Describes the document, including, without limitation, its

63-21  filing date;

63-22         (3) Specifies the inaccuracy or defect;

63-23         (4) Sets forth the inaccurate or defective portion of the

63-24  document in an accurate or corrected form; and

63-25         (5) Is signed by a trustee of the business trust.

63-26     (b) Deliver the certificate to the Secretary of State for filing.

63-27     (c) Pay a filing fee of [$150] $225 to the Secretary of State.

63-28     3.  A certificate of correction is effective on the effective date

63-29  of the document it corrects except as to persons relying on the

63-30  uncorrected document and adversely affected by the correction. As

63-31  to those persons, the certificate is effective when filed.

63-32     Sec. 138.  NRS 89.210 is hereby amended to read as follows:

63-33     89.210  1.  Within 30 days after the organization of a

63-34  professional association under this chapter, the association shall file

63-35  with the Secretary of State a copy of the articles of association, duly

63-36  executed, and shall pay at that time a filing fee of [$175.] $265. Any

63-37  such association formed as a common-law association before July 1,

63-38  1969, shall file, within 30 days after July 1, 1969, a certified copy of

63-39  its articles of association, with any amendments thereto, with the

63-40  Secretary of State, and shall pay at that time a filing fee of $25. A

63-41  copy of any amendments to the articles of association adopted after

63-42  July 1, 1969, must also be filed with the Secretary of State within 30

63-43  days after the adoption of such amendments. Each copy of

63-44  amendments so filed must be certified as true and correct and be

63-45  accompanied by a filing fee of [$150.] $225.

64-1      2.  The name of such a professional association must contain

64-2  the words “Professional Association,” “Professional Organization”

64-3  or the abbreviations “Prof. Ass’n” or “Prof. Org.” The association

64-4  may render professional services and exercise its authorized powers

64-5  under a fictitious name if the association has first registered the

64-6  name in the manner required under chapter 602 of NRS.

64-7      Sec. 139.  NRS 89.250 is hereby amended to read as follows:

64-8      89.250  1.  Except as otherwise provided in subsection 2, a

64-9  professional association shall, on or before the first day of the

64-10  second month after the filing of its articles of association with the

64-11  Secretary of State, and annually thereafter on or before the last day

64-12  of the month in which the anniversary date of its organization occurs

64-13  in each year, furnish a statement to the Secretary of State showing

64-14  the names and residence addresses of all members and employees in

64-15  the association and certifying that all members and employees are

64-16  licensed to render professional service in this state.

64-17     2.  A professional association organized and practicing pursuant

64-18  to the provisions of this chapter and NRS 623.349 shall, on or

64-19  before the first day of the second month after the filing of its articles

64-20  of association with the Secretary of State, and annually thereafter on

64-21  or before the last day of the month in which the anniversary date of

64-22  its organization occurs in each year, furnish a statement to the

64-23  Secretary of State:

64-24     (a) Showing the names and residence addresses of all members

64-25  and employees of the association who are licensed or otherwise

64-26  authorized by law to render professional service in this state;

64-27     (b) Certifying that all members and employees who render

64-28  professional service are licensed or otherwise authorized by law to

64-29  render professional service in this state; and

64-30     (c) Certifying that all members who are not licensed to render

64-31  professional service in this state do not render professional service

64-32  on behalf of the association except as authorized by law.

64-33     3.  Each statement filed pursuant to this section must be:

64-34     (a) Made on a form prescribed by the Secretary of State and

64-35  must not contain any fiscal or other information except that

64-36  expressly called for by this section.

64-37     (b) Signed by the chief executive officer of the association.

64-38     (c) Accompanied by a declaration under penalty of perjury that

64-39  the professional association has complied with the provisions of

64-40  chapter 364A of NRS.

64-41     4.  Upon filing:

64-42     (a) The initial statement required by this section, the association

64-43  shall pay to the Secretary of State a fee of [$165.] $250.

64-44     (b) Each annual statement required by this section, the

64-45  association shall pay to the Secretary of State a fee of [$85.] $130.

65-1      5.  As used in this section, “signed” means to have executed or

65-2  adopted a name, word or mark, including, without limitation, an

65-3  electronic signature as defined in NRS 719.100, with the present

65-4  intention to authenticate a document.

65-5      Sec. 140.  NRS 89.252 is hereby amended to read as follows:

65-6      89.252  1.  Each professional association that is required to

65-7  make a filing and pay the fee prescribed in NRS 89.250 but refuses

65-8  to do so within the time provided is in default.

65-9      2.  For default, there must be added to the amount of the fee a

65-10  penalty of [$50.] $75. The fee and penalty must be collected as

65-11  provided in this chapter.

65-12     Sec. 141.  NRS 89.256 is hereby amended to read as follows:

65-13     89.256  1.  Except as otherwise provided in subsections 3 and

65-14  4, the Secretary of State shall reinstate any professional association

65-15  which has forfeited its right to transact business under the provisions

65-16  of this chapter and restore the right to carry on business in this state

65-17  and exercise its privileges and immunities if it:

65-18     (a) Files with the Secretary of State the statement and

65-19  certification required by NRS 89.250; and

65-20     (b) Pays to the Secretary of State:

65-21         (1) The filing fee and penalty set forth in NRS 89.250 and

65-22  89.252 for each year or portion thereof during which the articles of

65-23  association have been revoked; and

65-24         (2) A fee of [$200] $300 for reinstatement.

65-25     2.  When the Secretary of State reinstates the association to its

65-26  former rights, he shall:

65-27     (a) Immediately issue and deliver to the association a certificate

65-28  of reinstatement authorizing it to transact business, as if the fees had

65-29  been paid when due; and

65-30     (b) Upon demand, issue to the association a certified copy of the

65-31  certificate of reinstatement.

65-32     3.  The Secretary of State shall not order a reinstatement unless

65-33  all delinquent fees and penalties have been paid, and the revocation

65-34  of the association’s articles of association occurred only by reason

65-35  of its failure to pay the fees and penalties.

65-36     4.  If the articles of association of a professional association

65-37  have been revoked pursuant to the provisions of this chapter and

65-38  have remained revoked for 10 consecutive years, the articles must

65-39  not be reinstated.

65-40     Sec. 142.  NRS 90.360 is hereby amended to read as follows:

65-41     90.360  1.  An applicant for licensing shall pay a

65-42  nonrefundable licensing fee, due annually in the following amounts:

65-43     (a) Broker-dealer, [$150.] $225.

65-44     (b) Sales representative, [$55.] $85.

65-45     (c) Investment adviser, [$150.] $225.

66-1      (d) Representative of an investment adviser, [$55.] $85.

66-2      2.  The Administrator by regulation may require licensing of

66-3  branch offices and impose a fee for the licensing and an annual fee.

66-4      3.  For the purpose of this section, a “branch office” means any

66-5  place of business in this state other than the principal office in the

66-6  state of the broker-dealer, from which one or more sales

66-7  representatives transact business.

66-8      Sec. 143.  NRS 90.380 is hereby amended to read as follows:

66-9      90.380  1.  Unless a proceeding under NRS 90.420 has been

66-10  instituted, the license of any broker-dealer, sales representative,

66-11  investment adviser or representative of an investment adviser

66-12  becomes effective 30 days after an application for licensing has

66-13  been filed and is complete, including any amendment, if all

66-14  requirements imposed pursuant to NRS 90.370 and 90.375 have

66-15  been satisfied. An application or amendment is complete when the

66-16  applicant has furnished information responsive to each applicable

66-17  item of the application. The Administrator may authorize an earlier

66-18  effective date of licensing.

66-19     2.  The license of a broker-dealer, sales representative,

66-20  investment adviser or representative of an investment adviser is

66-21  effective until terminated by revocation, suspension, expiration or

66-22  withdrawal.

66-23     3.  The license of a sales representative is only effective with

66-24  respect to transactions effected on behalf of the broker-dealer or

66-25  issuer for whom the sales representative is licensed.

66-26     4.  A person shall not at any one time act as a sales

66-27  representative for more than one broker-dealer or for more than one

66-28  issuer, unless the Administrator by regulation or order authorizes

66-29  multiple licenses.

66-30     5.  If a person licensed as a sales representative terminates

66-31  association with a broker-dealer or issuer or ceases to be a sales

66-32  representative, the sales representative and the broker-dealer or

66-33  issuer on whose behalf the sales representative was acting shall

66-34  promptly notify the Administrator.

66-35     6.  The Administrator by regulation may authorize one or more

66-36  special classifications of licenses as a broker-dealer, sales

66-37  representative, investment adviser or representative of an investment

66-38  adviser to be issued to applicants subject to limitations and

66-39  conditions on the nature of the activities that may be conducted by

66-40  persons so licensed.

66-41     7.  The license of a broker-dealer, sales representative,

66-42  investment adviser or representative of an investment adviser

66-43  expires if:

66-44     (a) The statement required pursuant to NRS 90.375 is not

66-45  submitted when it is due; or

67-1      (b) The annual fee required by NRS 90.360 is not paid when it is

67-2  due.

67-3      8.  A license that has expired may be reinstated retroactively if

67-4  the licensed person:

67-5      (a) Submits the statement required pursuant to NRS 90.375; and

67-6      (b) Pays the fee required by NRS 90.360, plus a fee for

67-7  reinstatement in the amount of [$25,] $40,

67-8  within 30 days after the date of expiration. If the license is not

67-9  reinstated within that time, it shall be deemed to have lapsed as of

67-10  the date of expiration, and the licensed person must thereafter

67-11  submit a new application for licensing if he desires to be relicensed.

67-12     Sec. 144.  NRS 90.456 is hereby amended to read as follows:

67-13     90.456  1.  The Administrator may charge a fee not to exceed

67-14  [.25] 0.4 percent of the total value of each transaction involving the

67-15  purchase, sale or other transfer of a security conducted by a

67-16  securities exchange located in this state.

67-17     2.  The Administrator may adopt by regulation or order, and

67-18  shall cause to be published, a table of fees based upon the direct cost

67-19  of regulating the securities exchange.

67-20     Sec. 145.  NRS 90.500 is hereby amended to read as follows:

67-21     90.500  1.  A registration statement may be filed by the issuer,

67-22  any other person on whose behalf the offering is to be made, or a

67-23  broker-dealer licensed under this chapter.

67-24     2.  Except as provided in subsection 3, a person filing a

67-25  registration statement shall pay a filing fee of [one-tenth of 1] 0.15

67-26  percent of the maximum aggregate offering price at which the

67-27  registered securities are to be offered in this state, but not less than

67-28  [$350] $525 or more than [$2,500.] $3,750. If a registration

67-29  statement is withdrawn before the effective date or a pre-effective

67-30  order is entered under NRS 90.510, the Administrator shall retain

67-31  the fee.

67-32     3.  An open-end management company, a face amount

67-33  certificate company or a unit investment trust, as defined in the

67-34  Investment Company Act of 1940, may register an indefinite

67-35  amount of securities under a registration statement. The registrant

67-36  shall pay:

67-37     (a) A fee of [$500] $750 at the time of filing; and

67-38     (b) Within 60 days after the registrant’s fiscal year during which

67-39  its statement is effective, a fee of [$2,000,] $3,000, or file a report

67-40  on a form the Administrator adopts, specifying its sale of securities

67-41  to persons in this state during the fiscal year and pay a fee of [one-

67-42  tenth of 1] 0.15 percent of the aggregate sales price of the securities

67-43  sold to persons in this state, but the latter fee must not be less than

67-44  [$350] $525 or more than [$2,500.] $3,750.

68-1      4.  Except as otherwise permitted by subsection 3, a statement

68-2  must specify:

68-3      (a) The amount of securities to be offered in this state and the

68-4  states in which a statement or similar document in connection with

68-5  the offering has been or is to be filed; and

68-6      (b) Any adverse order, judgment or decree entered by a

68-7  securities agency or administrator in any state or by a court or the

68-8  Securities and Exchange Commission in connection with the

68-9  offering.

68-10     5.  A document filed under this chapter as now or previously in

68-11  effect, within 5 years before the filing of a registration statement,

68-12  may be incorporated by reference in the registration statement if the

68-13  document is currently accurate.

68-14     6.  The Administrator by regulation or order may permit the

68-15  omission of an item of information or document from a statement.

68-16     7.  In the case of a nonissuer offering, the Administrator may

68-17  not require information under subsection 13 or NRS 90.510 [or

68-18  subsection 13 of this section] unless it is known to the person filing

68-19  the registration statement or to the person on whose behalf the

68-20  offering is to be made, or can be furnished by one of them without

68-21  unreasonable effort or expense.

68-22     8.  In the case of a registration under NRS 90.480 or 90.490 by

68-23  an issuer who has no public market for its shares and no significant

68-24  earnings from continuing operations during the last 5 years or any

68-25  shorter period of its existence, the Administrator by regulation or

68-26  order may require as a condition of registration that the following

68-27  securities be deposited in escrow for not more than 3 years:

68-28     (a) A security issued to a promoter within the 3 years

68-29  immediately before the offering or to be issued to a promoter for a

68-30  consideration substantially less than the offering price; and

68-31     (b) A security issued to a promoter for a consideration other

68-32  than cash, unless the registrant demonstrates that the value of the

68-33  noncash consideration received in exchange for the security is

68-34  substantially equal to the offering price for the security.

68-35  The Administrator by regulation may determine the conditions of an

68-36  escrow required under this subsection, but the Administrator may

68-37  not reject a depository solely because of location in another state.

68-38     9.  The Administrator by regulation may require as a condition

68-39  of registration under NRS 90.480 or 90.490 that the proceeds from

68-40  the sale of the registered security in this state must be impounded

68-41  until the issuer receives a specified amount from the sale of the

68-42  security. The Administrator by regulation or order may determine

68-43  the conditions of an impounding arrangement required under this

68-44  subsection, but the Administrator may not reject a depository solely

68-45  because of its location in another state.

69-1      10.  If a security is registered pursuant to NRS 90.470 or

69-2  90.480, the prospectus filed under the Securities Act of 1933 must

69-3  be delivered to each purchaser in accordance with the requirements

69-4  of that act for the delivery of a prospectus.

69-5      11.  If a security is registered pursuant to NRS 90.490, an

69-6  offering document containing information the Administrator by

69-7  regulation or order designates must be delivered to each purchaser

69-8  with or before the earliest of:

69-9      (a) The first written offer made to the purchaser by or for the

69-10  account of the issuer or another person on whose behalf the offering

69-11  is being made or by an underwriter or broker-dealer who is offering

69-12  part of an unsold allotment or subscription taken by it as a

69-13  participant in the distribution;

69-14     (b) Confirmation of a sale made by or for the account of a

69-15  person named in paragraph (a);

69-16     (c) Payment pursuant to a sale; or

69-17     (d) Delivery pursuant to a sale.

69-18     12.  Except for a registration statement under which an

69-19  indefinite amount of securities are registered as provided in

69-20  subsection 3, a statement remains effective for 1 year after its

69-21  effective date unless the Administrator by regulation extends the

69-22  period of effectiveness. A registration statement under which an

69-23  indefinite amount of securities are registered remains effective until

69-24  60 days after the beginning of the registrant’s next fiscal year

69-25  following the date the statement was filed. All outstanding securities

69-26  of the same class as a registered security are considered to be

69-27  registered for the purpose of a nonissuer transaction while the

69-28  registration statement is effective, unless the Administrator by

69-29  regulation or order provides otherwise. A registration statement may

69-30  not be withdrawn after its effective date if any of the securities

69-31  registered have been sold in this state, unless the Administrator by

69-32  regulation or order provides otherwise. No registration statement is

69-33  effective while an order is in effect under subsection 1 of

69-34  NRS 90.510.

69-35     13.  During the period that an offering is being made pursuant

69-36  to an effective registration statement, the Administrator by

69-37  regulation or order may require the person who filed the registration

69-38  statement to file reports, not more often than quarterly, to keep

69-39  reasonably current the information contained in the registration

69-40  statement and to disclose the progress of the offering.

69-41     14.  A registration statement filed under NRS 90.470 or 90.480

69-42  may be amended after its effective date to increase the securities

69-43  specified to be offered and sold. The amendment becomes effective

69-44  upon filing of the amendment and payment of an additional filing

69-45  fee of 3 times the fee otherwise payable, calculated in the manner

70-1  specified in subsection 2, with respect to the additional securities to

70-2  be offered and sold. The effectiveness of the amendment relates

70-3  back to the date or dates of sale of the additional securities being

70-4  registered.

70-5      15.  A registration statement filed under NRS 90.490 may be

70-6  amended after its effective date to increase the securities specified to

70-7  be offered and sold, if the public offering price and underwriters’

70-8  discounts and commissions are not changed from the respective

70-9  amounts which the Administrator was informed. The amendment

70-10  becomes effective when the Administrator so orders and relates

70-11  back to the date of sale of the additional securities being registered.

70-12  A person filing an amendment shall pay an additional filing fee of 3

70-13  times the fee otherwise payable, calculated in the manner specified

70-14  in subsection 2, with respect to the additional securities to be offered

70-15  and sold.

70-16     Sec. 146.  NRS 90.520 is hereby amended to read as follows:

70-17     90.520  1.  As used in this section:

70-18     (a) “Guaranteed” means guaranteed as to payment of all or

70-19  substantially all of principal and interest or dividends.

70-20     (b) “Insured” means insured as to payment of all or substantially

70-21  all of principal and interest or dividends.

70-22     2.  Except as otherwise provided in subsections 4 and 5, the

70-23  following securities are exempt from NRS 90.460 and 90.560:

70-24     (a) A security, including a revenue obligation, issued, insured or

70-25  guaranteed by the United States, an agency or corporate or other

70-26  instrumentality of the United States, an international agency or

70-27  corporate or other instrumentality of which the United States and

70-28  one or more foreign governments are members, a state, a political

70-29  subdivision of a state, or an agency or corporate or other

70-30  instrumentality of one or more states or their political subdivisions,

70-31  or a certificate of deposit for any of the foregoing, but this

70-32  exemption does not include a security payable solely from revenues

70-33  to be received from an enterprise unless the:

70-34         (1) Payments are insured or guaranteed by the United States,

70-35  an agency or corporate or other instrumentality of the United States,

70-36  an international agency or corporate or other instrumentality of

70-37  which the United States and one or more foreign governments are

70-38  members, a state, a political subdivision of a state, or an agency or

70-39  corporate or other instrumentality of one or more states or their

70-40  political subdivisions, or by a person whose securities are exempt

70-41  from registration pursuant to paragraphs (b) to (e), inclusive, or (g),

70-42  or the revenues from which the payments are to be made are a direct

70-43  obligation of such a person;

70-44         (2) Security is issued by this state or an agency,

70-45  instrumentality or political subdivision of this state; or

71-1          (3) Payments are insured or guaranteed by a person who,

71-2  within the 12 months next preceding the date on which the securities

71-3  are issued, has received a rating within one of the top four rating

71-4  categories of either Moody’s Investors Service, Inc., or Standard

71-5  and Poor’s Ratings Services.

71-6      (b) A security issued, insured or guaranteed by Canada, a

71-7  Canadian province or territory, a political subdivision of Canada or

71-8  of a Canadian province or territory, an agency or corporate or other

71-9  instrumentality of one or more of the foregoing, or any other foreign

71-10  government or governmental combination or entity with which the

71-11  United States maintains diplomatic relations, if the security is

71-12  recognized as a valid obligation by the issuer, insurer or guarantor.

71-13     (c) A security issued by and representing an interest in or a

71-14  direct obligation of a depository institution if the deposit or share

71-15  accounts of the depository institution are insured by the Federal

71-16  Deposit Insurance Corporation, the National Credit Union Share

71-17  Insurance Fund or a successor to an applicable agency authorized by

71-18  federal law.

71-19     (d) A security issued by and representing an interest in or a

71-20  direct obligation of, or insured or guaranteed by, an insurance

71-21  company organized under the laws of any state and authorized to do

71-22  business in this state.

71-23     (e) A security issued or guaranteed by a railroad, other common

71-24  carrier, public utility or holding company that is:

71-25         (1) Subject to the jurisdiction of the Surface Transportation

71-26  Board;

71-27         (2) A registered holding company under the Public Utility

71-28  Holding Company Act of 1935 or a subsidiary of a registered

71-29  holding company within the meaning of that act;

71-30         (3) Regulated in respect to its rates and charges by a

71-31  governmental authority of the United States or a state; or

71-32         (4) Regulated in respect to the issuance or guarantee of the

71-33  security by a governmental authority of the United States, a state,

71-34  Canada, or a Canadian province or territory.

71-35     (f) Equipment trust certificates in respect to equipment leased or

71-36  conditionally sold to a person, if securities issued by the person

71-37  would be exempt pursuant to this section.

71-38     (g) A security listed or approved for listing upon notice of

71-39  issuance on the New York Stock Exchange, the American Stock

71-40  Exchange, the Midwest Stock Exchange, the Pacific Stock

71-41  Exchange or other exchange designated by the Administrator, any

71-42  other security of the same issuer which is of senior or substantially

71-43  equal rank, a security called for by subscription right or warrant so

71-44  listed or approved, or a warrant or right to purchase or subscribe to

71-45  any of the foregoing.

72-1      (h) A security designated or approved for designation upon

72-2  issuance or notice of issuance for inclusion in the national market

72-3  system by the National Association of Securities Dealers, Inc., any

72-4  other security of the same issuer which is of senior or substantially

72-5  equal rank, a security called for by subscription right or warrant so

72-6  designated, or a warrant or a right to purchase or subscribe to any of

72-7  the foregoing.

72-8      (i) An option issued by a clearing agency registered under the

72-9  Securities Exchange Act of 1934, other than an off-exchange futures

72-10  contract or substantially similar arrangement, if the security,

72-11  currency, commodity[,] or other interest underlying the option is:

72-12         (1) Registered under NRS 90.470, 90.480 or 90.490;

72-13         (2) Exempt pursuant to this section; or

72-14         (3) Not otherwise required to be registered under this

72-15  chapter.

72-16     (j) A security issued by a person organized and operated not for

72-17  private profit but exclusively for a religious, educational,

72-18  benevolent, charitable, fraternal, social, athletic or reformatory

72-19  purpose, or as a chamber of commerce , or trade or professional

72-20  association if at least 10 days before the sale of the security the

72-21  issuer has filed with the Administrator a notice setting forth the

72-22  material terms of the proposed sale and copies of any sales and

72-23  advertising literature to be used and the Administrator by order does

72-24  not disallow the exemption within the next 5 full business days.

72-25     (k) A promissory note, draft, bill of exchange or banker’s

72-26  acceptance that evidences an obligation to pay cash within 9 months

72-27  after the date of issuance, exclusive of days of grace, is issued in

72-28  denominations of at least $50,000 and receives a rating in one of the

72-29  three highest rating categories from a nationally recognized

72-30  statistical rating organization, or a renewal of such an obligation that

72-31  is likewise limited, or a guarantee of such an obligation or of a

72-32  renewal.

72-33     (l) A security issued in connection with an employees’ stock

72-34  purchase, savings, option, profit-sharing, pension or similar

72-35  employees’ benefit plan.

72-36     (m) A membership or equity interest in, or a retention certificate

72-37  or like security given in lieu of a cash patronage dividend issued by,

72-38  a cooperative organized and operated as a nonprofit membership

72-39  cooperative under the cooperative laws of any state if not traded to

72-40  the general public.

72-41     (n) A security issued by an issuer registered as an open-end

72-42  management investment company or unit investment trust under

72-43  section 8 of the Investment Company Act of 1940 if:

72-44         (1) The issuer is advised by an investment adviser that is a

72-45  depository institution exempt from registration under the Investment

73-1  Adviser Act of 1940 or that is currently registered as an investment

73-2  adviser, and has been registered, or is affiliated with an adviser that

73-3  has been registered, as an investment adviser under the Investment

73-4  Advisers Act of 1940 for at least 3 years next preceding an offer or

73-5  sale of a security claimed to be exempt pursuant to this paragraph,

73-6  and the issuer has acted, or is affiliated with an investment adviser

73-7  that has acted, as investment adviser to one or more registered

73-8  investment companies or unit investment trusts for at least 3 years

73-9  next preceding an offer or sale of a security claimed to be exempt

73-10  under this paragraph; or

73-11         (2) The issuer has a sponsor that has at all times throughout

73-12  the 3 years before an offer or sale of a security claimed to be exempt

73-13  pursuant to this paragraph sponsored one or more registered

73-14  investment companies or unit investment trusts the aggregate total

73-15  assets of which have exceeded $100,000,000.

73-16     3.  For the purpose of paragraph (n) of subsection 2, an

73-17  investment adviser is affiliated with another investment adviser if it

73-18  controls, is controlled by, or is under common control with the other

73-19  investment adviser.

73-20     4.  The exemption provided by paragraph (n) of subsection 2 is

73-21  available only if the person claiming the exemption files with the

73-22  Administrator a notice of intention to sell which sets forth the name

73-23  and address of the issuer and the securities to be offered in this state

73-24  and pays a fee [of:

73-25     (a) Two hundred and fifty dollars] :

73-26     (a) Of $375 for the initial claim of exemption and the same

73-27  amount at the beginning of each fiscal year thereafter in which

73-28  securities are to be offered in this state, in the case of an open-end

73-29  management company; or

73-30     (b) [One hundred and fifty dollars] Of $225 for the initial claim

73-31  of exemption in the case of a unit investment trust.

73-32     5.  An exemption provided by paragraph (c), (e), (f), (i) or (k)

73-33  of subsection 2 is available only if, within the 12 months

73-34  immediately preceding the use of the exemption, a notice of claim

73-35  of exemption has been filed with the Administrator and a

73-36  nonrefundable fee of [$150] $225 has been paid.

73-37     Sec. 147.  NRS 90.530 is hereby amended to read as follows:

73-38     90.530  The following transactions are exempt from NRS

73-39  90.460 and 90.560:

73-40     1.  An isolated nonissuer transaction, whether or not effected

73-41  through a broker-dealer.

73-42     2.  A nonissuer transaction in an outstanding security if the

73-43  issuer of the security has a class of securities subject to registration

73-44  under section 12 of the Securities Exchange Act of 1934, 15 U.S.C.

73-45  § 781, and has been subject to the reporting requirements of section

74-1  13 or [15(c)] 15(d) of the Securities Exchange Act of 1934, 15

74-2  U.S.C. §§ 78m and 78o(d), for not less than 90 days next preceding

74-3  the transaction, or has filed and maintained with the Administrator

74-4  for not less than 90 days preceding the transaction information, in

74-5  such form as the Administrator, by regulation, specifies,

74-6  substantially comparable to the information the issuer would be

74-7  required to file under section 12(b) or 12(g) of the Securities

74-8  Exchange Act of 1934, 15 U.S.C. §§ 78l(b) and 78l(g), were the

74-9  issuer to have a class of its securities registered under section 12 of

74-10  the Securities Exchange Act of 1934, 15 U.S.C. § 78l, and paid a fee

74-11  of $225 with the filing . [of $150.]

74-12     3.  A nonissuer transaction by a sales representative licensed in

74-13  this state, in an outstanding security if:

74-14     (a) The security is sold at a price reasonably related to the

74-15  current market price of the security at the time of the transaction;

74-16     (b) The security does not constitute all or part of an unsold

74-17  allotment to, or subscription or participation by, a broker-dealer as

74-18  an underwriter of the security;

74-19     (c) At the time of the transaction, a recognized securities manual

74-20  designated by the Administrator by regulation or order contains the

74-21  names of the issuer’s officers and directors, a statement of the

74-22  financial condition of the issuer as of a date within the preceding 18

74-23  months, and a statement of income or operations for each of the last

74-24  2 years next preceding the date of the statement of financial

74-25  condition, or for the period as of the date of the statement of

74-26  financial condition if the period of existence is less than 2 years;

74-27     (d) The issuer of the security has not undergone a major

74-28  reorganization, merger or acquisition within the preceding 30 days

74-29  which is not reflected in the information contained in the manual;

74-30  and

74-31     (e) At the time of the transaction, the issuer of the security has a

74-32  class of equity security listed on the New York Stock Exchange,

74-33  American Stock Exchange or other exchange designated by the

74-34  Administrator, or on the National Market System of the National

74-35  Association of Securities Dealers Automated Quotation System. The

74-36  requirements of this paragraph do not apply if:

74-37         (1) The security has been outstanding for at least 180 days;

74-38         (2) The issuer of the security is actually engaged in business

74-39  and is not developing his business, in bankruptcy or in receivership;

74-40  and

74-41         (3) The issuer of the security has been in continuous

74-42  operation for at least 5 years.

74-43     4.  A nonissuer transaction in a security that has a fixed

74-44  maturity or a fixed interest or dividend provision if there has been

74-45  no default during the current fiscal year or within the 3 preceding

75-1  years, or during the existence of the issuer, and any predecessors if

75-2  less than 3 years, in the payment of principal, interest or dividends

75-3  on the security.

75-4      5.  A nonissuer transaction effected by or through a registered

75-5  broker-dealer pursuant to an unsolicited order or offer to purchase.

75-6      6.  A transaction between the issuer or other person on whose

75-7  behalf the offering of a security is made and an underwriter, or a

75-8  transaction among underwriters.

75-9      7.  A transaction in a bond or other evidence of indebtedness

75-10  secured by a real estate mortgage, deed of trust, personal property

75-11  security agreement, or by an agreement for the sale of real estate or

75-12  personal property, if the entire mortgage, deed of trust or agreement,

75-13  together with all the bonds or other evidences of indebtedness

75-14  secured thereby, is offered and sold as a unit.

75-15     8.  A transaction by an executor, administrator, sheriff, marshal,

75-16  receiver, trustee in bankruptcy, guardian or conservator.

75-17     9.  A transaction executed by a bona fide secured party without

75-18  the purpose of evading this chapter.

75-19     10.  An offer to sell or sale of a security to a financial or

75-20  institutional investor or to a broker-dealer.

75-21     11.  Except as otherwise provided in this subsection, a

75-22  transaction pursuant to an offer to sell securities of an issuer if:

75-23     (a) The transaction is part of an issue in which there are not

75-24  more than 25 purchasers in this state, other than those designated in

75-25  subsection 10, during any 12 consecutive months;

75-26     (b) No general solicitation or general advertising is used in

75-27  connection with the offer to sell or sale of the securities;

75-28     (c) No commission or other similar compensation is paid or

75-29  given, directly or indirectly, to a person, other than a broker-dealer

75-30  licensed or not required to be licensed under this chapter, for

75-31  soliciting a prospective purchaser in this state; and

75-32     (d) One of the following conditions is satisfied:

75-33         (1) The seller reasonably believes that all the purchasers in

75-34  this state, other than those designated in subsection 10, are

75-35  purchasing for investment; or

75-36         (2) Immediately before and immediately after the

75-37  transaction, the issuer reasonably believes that the securities of the

75-38  issuer are held by 50 or fewer beneficial owners, other than those

75-39  designated in subsection 10, and the transaction is part of an

75-40  aggregate offering that does not exceed $500,000 during any 12

75-41  consecutive months.

75-42  The Administrator by rule or order as to a security or transaction or

75-43  a type of security or transaction[,] may withdraw or further

75-44  condition the exemption set forth in this subsection or waive one or

75-45  more of the conditions of the exemption.

76-1      12.  An offer to sell or sale of a preorganization certificate or

76-2  subscription if:

76-3      (a) No commission or other similar compensation is paid or

76-4  given, directly or indirectly, for soliciting a prospective subscriber;

76-5      (b) No public advertising or general solicitation is used in

76-6  connection with the offer to sell or sale;

76-7      (c) The number of offers does not exceed 50;

76-8      (d) The number of subscribers does not exceed 10; and

76-9      (e) No payment is made by a subscriber.

76-10     13.  An offer to sell or sale of a preorganization certificate or

76-11  subscription issued in connection with the organization of a

76-12  depository institution if that organization is under the supervision of

76-13  an official or agency of a state or of the United States which has and

76-14  exercises the authority to regulate and supervise the organization of

76-15  the depository institution. For the purpose of this subsection, “under

76-16  the supervision of an official or agency” means that the official or

76-17  agency by law has authority to require disclosures to prospective

76-18  investors similar to those required under NRS 90.490, impound

76-19  proceeds from the sale of a preorganization certificate or

76-20  subscription until organization of the depository institution is

76-21  completed, and require refund to investors if the depository

76-22  institution does not obtain a grant of authority from the appropriate

76-23  official or agency.

76-24     14.  A transaction pursuant to an offer to sell to existing

76-25  security holders of the issuer, including persons who at the time of

76-26  the transaction are holders of transferable warrants exercisable

76-27  within not more than 90 days after their issuance, convertible

76-28  securities or nontransferable warrants, if:

76-29     (a) No commission or other similar compensation other than a

76-30  standby commission, is paid or given, directly or indirectly, for

76-31  soliciting a security holder in this state; or

76-32     (b) The issuer first files a notice specifying the terms of the offer

76-33  to sell, together with a nonrefundable fee of [$150,] $225, and the

76-34  Administrator does not by order disallow the exemption within the

76-35  next 5 full business days.

76-36     15.  A transaction involving an offer to sell, but not a sale, of a

76-37  security not exempt from registration under the Securities Act of

76-38  1933, 15 U.S.C. §§ 77a et seq., if:

76-39     (a) A registration or offering statement or similar document as

76-40  required under the Securities Act of 1933, 15 U.S.C. §§ 77a et seq.,

76-41  has been filed, but is not effective;

76-42     (b) A registration statement, if required, has been filed under

76-43  this chapter, but is not effective; and

76-44     (c) No order denying, suspending or revoking the effectiveness

76-45  of registration, of which the offeror is aware, has been entered by

77-1  the Administrator or the Securities and Exchange Commission, and

77-2  no examination or public proceeding that may culminate in that kind

77-3  of order is known by the offeror to be pending.

77-4      16.  A transaction involving an offer to sell, but not a sale, of a

77-5  security exempt from registration under the Securities Act of 1933,

77-6  15 U.S.C. §§ 77a et seq., if:

77-7      (a) A registration statement has been filed under this chapter, but

77-8  is not effective; and

77-9      (b) No order denying, suspending or revoking the effectiveness

77-10  of registration, of which the offeror is aware, has been entered by

77-11  the Administrator and no examination or public proceeding that may

77-12  culminate in that kind of order is known by the offeror to be

77-13  pending.

77-14     17.  A transaction involving the distribution of the securities of

77-15  an issuer to the security holders of another person in connection

77-16  with a merger, consolidation, exchange of securities, sale of assets

77-17  or other reorganization to which the issuer, or its parent or

77-18  subsidiary, and the other person, or its parent or subsidiary, are

77-19  parties, if:

77-20     (a) The securities to be distributed are registered under the

77-21  Securities Act of 1933, 15 U.S.C. §§ 77a et seq., before the

77-22  consummation of the transaction; or

77-23     (b) The securities to be distributed are not required to be

77-24  registered under the Securities Act of 1933, 15 U.S.C. §§ 77a et

77-25  seq., written notice of the transaction and a copy of the materials, if

77-26  any, by which approval of the transaction will be solicited, together

77-27  with a nonrefundable fee of [$150,] $225, are given to the

77-28  Administrator at least 10 days before the consummation of

77-29  the transaction and the Administrator does not, by order, disallow

77-30  the exemption within the next 10 days.

77-31     18.  A transaction involving the offer to sell or sale of one or

77-32  more promissory notes each of which is directly secured by a first

77-33  lien on a single parcel of real estate, or a transaction involving the

77-34  offer to sell or sale of participation interests in the notes if the notes

77-35  and participation interests are originated by a depository institution

77-36  and are offered and sold subject to the following conditions:

77-37     (a) The minimum aggregate sales price paid by each purchaser

77-38  may not be less than $250,000;

77-39     (b) Each purchaser must pay cash either at the time of the sale or

77-40  within 60 days after the sale; and

77-41     (c) Each purchaser may buy for his own account only.

77-42     19.  A transaction involving the offer to sell or sale of one or

77-43  more promissory notes directly secured by a first lien on a single

77-44  parcel of real estate or participating interests in the notes, if the

77-45  notes and interests are originated by a mortgagee approved by the

78-1  Secretary of Housing and Urban Development under sections 203

78-2  and 211 of the National Housing Act, 12 U.S.C. §§ 1709 and 1715b,

78-3  and are offered or sold, subject to the conditions specified in

78-4  subsection 18, to a depository institution or insurance company, the

78-5  Federal Home Loan Mortgage Corporation, the Federal National

78-6  Mortgage Association or the Government National Mortgage

78-7  Association.

78-8      20.  A transaction between any of the persons described in

78-9  subsection 19 involving a nonassignable contract to buy or sell the

78-10  securities described in subsection 18 if the contract is to be

78-11  completed within 2 years and if:

78-12     (a) The seller of the securities pursuant to the contract is one of

78-13  the parties described in subsection 18 or 19 who may originate

78-14  securities;

78-15     (b) The purchaser of securities pursuant to a contract is any

78-16  other person described in subsection 19; and

78-17     (c) The conditions described in subsection 18 are fulfilled.

78-18     21.  A transaction involving one or more promissory notes

78-19  secured by a lien on real estate, or participating interests in those

78-20  notes, by:

78-21     (a) A mortgage company licensed pursuant to chapter 645E of

78-22  NRS to engage in those transactions; or

78-23     (b) A mortgage broker licensed pursuant to chapter 645B of

78-24  NRS to engage in those transactions.

78-25     Sec. 148.  NRS 90.540 is hereby amended to read as follows:

78-26     90.540  The Administrator by regulation or order may:

78-27     1.  Exempt any other security or transaction or class of

78-28  securities or transactions from NRS 90.460 and 90.560.

78-29     2.  Adopt a transactional exemption for limited offerings that

78-30  will further the objectives of compatibility with the exemptions from

78-31  securities registration authorized by the Securities Act of 1933 and

78-32  uniformity among the states.

78-33     3.  Require the filing of a notice and the payment of a fee not

78-34  greater than [$250] $375 for an exemption adopted pursuant to this

78-35  section.

78-36     Sec. 149.  NRS 92A.190 is hereby amended to read as follows:

78-37     92A.190  1.  One or more foreign entities may merge or enter

78-38  into an exchange of owner’s interests with one or more domestic

78-39  entities if:

78-40     (a) In a merger, the merger is permitted by the law of the

78-41  jurisdiction under whose law each foreign entity is organized and

78-42  governed and each foreign entity complies with that law in effecting

78-43  the merger;

78-44     (b) In an exchange, the entity whose owner’s interests will be

78-45  acquired is a domestic entity, whether or not an exchange of

79-1  owner’s interests is permitted by the law of the jurisdiction under

79-2  whose law the acquiring entity is organized;

79-3      (c) The foreign entity complies with NRS 92A.200 to 92A.240,

79-4  inclusive, if it is the surviving entity in the merger or acquiring

79-5  entity in the exchange and sets forth in the articles of merger or

79-6  exchange its address where copies of process may be sent by the

79-7  Secretary of State; and

79-8      (d) Each domestic entity complies with the applicable provisions

79-9  of NRS 92A.100 to 92A.180, inclusive, and, if it is the surviving

79-10  entity in the merger or acquiring entity in the exchange, with NRS

79-11  92A.200 to 92A.240, inclusive.

79-12     2.  When the merger or exchange takes effect, the surviving

79-13  foreign entity in a merger and the acquiring foreign entity in an

79-14  exchange shall be deemed:

79-15     (a) To appoint the Secretary of State as its agent for service of

79-16  process in a proceeding to enforce any obligation or the rights of

79-17  dissenting owners of each domestic entity that was a party to the

79-18  merger or exchange. Service of such process must be made by

79-19  personally delivering to and leaving with the Secretary of State

79-20  duplicate copies of the process and the payment of a fee of [$50]

79-21  $75 for accepting and transmitting the process. The Secretary of

79-22  State shall forthwith send by registered or certified mail one of the

79-23  copies to the surviving or acquiring entity at its specified address,

79-24  unless the surviving or acquiring entity has designated in writing to

79-25  the Secretary of State a different address for that purpose, in which

79-26  case it must be mailed to the last address so designated.

79-27     (b) To agree that it will promptly pay to the dissenting owners of

79-28  each domestic entity that is a party to the merger or exchange the

79-29  amount, if any, to which they are entitled under or created pursuant

79-30  to NRS 92A.300 to 92A.500, inclusive.

79-31     3.  This section does not limit the power of a foreign entity to

79-32  acquire all or part of the owner’s interests of one or more classes or

79-33  series of a domestic entity through a voluntary exchange or

79-34  otherwise.

79-35     Sec. 150.  NRS 92A.195 is hereby amended to read as follows:

79-36     92A.195  1.  One foreign entity or foreign general partnership

79-37  may convert into one domestic entity if:

79-38     (a) The conversion is permitted by the law of the jurisdiction

79-39  governing the foreign entity or foreign general partnership and the

79-40  foreign entity or foreign general partnership complies with that law