requires two-thirds majority vote (§§ 14, 17, 23, 44, 46, 47, 51,
66-69, 81-88, 90-155, 159-165, 171, 172, 174-181, 185-188, 190, 193)                                                                           

                                                                                                  

 

Assembly Bill No. 281–Committee on Taxation

 

(On Behalf of the Governor’s Task Force on Tax Policy in Nevada (A.C.R. 1 of the 17th Special Session))

 

March 11, 2003

____________

 

Referred to Committee on Taxation

 

SUMMARY—Imposes and increases certain taxes and fees and makes various changes to provide additional state revenue and to stabilize revenue base of state. (BDR 32‑756)

 

FISCAL NOTE:  Effect on Local Government: No.

                           Effect on the State: Yes.

 

~

 

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; creating and assigning duties to an Office of Federal Grants Acquisition in the Office of the Governor and a Task Force on Tax Policy in Nevada; making an appropriation; providing penalties; 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 35, 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.  “Business” means any activity engaged in or caused

2-9  to be engaged in with the object of gain, benefit or advantage,

2-10  either direct or indirect, to any person or governmental entity.

2-11      Sec. 4.  1.  “Business entity” includes:

2-12      (a) A corporation, partnership, proprietorship, limited-liability

2-13  company, business association, joint venture and any other person

2-14  engaging in a business; and

2-15      (b) A natural person engaging in a business if he is deemed to

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

2-17      2.  The term includes an independent contractor.

2-18      3.  The term does not include a governmental entity.

2-19      Sec. 5.  “Commission” means the Nevada Tax Commission.

2-20      Sec. 6.  “Engaging in a business” means commencing,

2-21  conducting or continuing a business, the exercise of corporate or

2-22  franchise powers regarding a business, and the liquidation of a

2-23  business entity which is or was engaging in a business when the

2-24  liquidator holds itself out to the public as conducting that

2-25  business.

2-26      Sec. 7.  “Gross amount received or receivable” means the

2-27  total sum of any money and the fair market value of any other

2-28  property or services received or receivable, including, without

2-29  limitation, rents, royalties, interest and dividends.

2-30      Sec. 8.  1.  Except as otherwise provided in this section,

2-31  “gross receipts” means the gross amount received or receivable on

2-32  the use, sale or exchange of property or capital or for the

2-33  performance of services, from any transaction involving a

2-34  business, without any reduction for the basis of property sold, the

2-35  cost of goods or services sold, or any other expense of the

2-36  business.

2-37      2.  “Gross receipts” does not include:

2-38      (a) Any revenue received by a nonprofit organization that

2-39  qualifies as a tax-exempt organization pursuant to 26 U.S.C.

2-40  § 501(c), as membership fees or dues or as a result of its

2-41  fund-raising activities.

2-42      (b) Any operating revenue of a public utility for the provision

2-43  of electric, gas, water or sewer service.

2-44      (c) If a business entity pays a license fee pursuant to NRS

2-45  463.370, the total sum of all amounts specifically included by

3-1  statute in and all amounts specifically excluded by statute from the

3-2  calculation of that fee for the business entity.

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

3-4  463.373, the gross receipts of the business entity from the

3-5  operation of the slot machines upon which that fee is paid.

3-6  Sec. 9.  1.  “Pass-through revenue” means revenue received

3-7  by a business entity solely on behalf of another in a disclosed

3-8  agency capacity, including revenue received as a broker, bailee,

3-9  consignee or auctioneer, notwithstanding that the business entity

3-10  may incur liability, primarily or secondarily, in a transaction in its

3-11  capacity as an agent.

3-12      2.  “Pass-through revenue” includes reimbursement for

3-13  advances made by a business entity on behalf of a customer or

3-14  client, other than with respect to services rendered or with respect

3-15  to purchases of goods by the business entity in carrying out the

3-16  business in which it engages.

3-17      Sec. 10.  “Production” means the process of making,

3-18  manufacturing, fabricating, constructing, forming or assembling

3-19  tangible personal property from raw, unfinished or semifinished

3-20  materials.

3-21      Sec. 11.  The Legislature hereby finds and declares that the

3-22  tax imposed by this chapter on a business entity must not be

3-23  construed as a tax upon the customers of the business entity, but

3-24  as a tax which is imposed upon and collectible from the business

3-25  entity and which constitutes part of the operating overhead of the

3-26  business entity.

3-27      Sec. 12.  The Department shall:

3-28      1.  Administer and enforce the provisions of this chapter, and

3-29  may adopt such regulations as it deems appropriate for that

3-30  purpose.

3-31      2.  Deposit all taxes, interest and penalties it receives pursuant

3-32  to this chapter in the State Treasury for credit to the State General

3-33  Fund.

3-34      Sec. 13.  1.  Each person responsible for maintaining the

3-35  records of a business entity shall:

3-36      (a) Keep such records as may be necessary to determine the

3-37  amount of its liability pursuant to the provisions of this chapter;

3-38      (b) Preserve those records for 4 years or until any litigation or

3-39  prosecution pursuant to this chapter is finally determined,

3-40  whichever is longer; and

3-41      (c) Make the records available for inspection by the

3-42  Department upon demand at reasonable times during regular

3-43  business hours.

3-44      2.  Any person who violates the provisions of subsection 1 is

3-45  guilty of a misdemeanor.

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

4-2  no return is filed by a business entity, to determine the amount

4-3  required to be paid, the Department, or any person authorized in

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

4-5  records of any person or business entity that may be liable for the

4-6  tax imposed by this chapter.

4-7  2.  Any person or business entity which may be liable for the

4-8  tax imposed by this chapter and which keeps outside of this state

4-9  its books, papers and records relating thereto shall pay to the

4-10  Department an amount equal to the allowance provided for state

4-11  officers and employees generally while traveling outside of the

4-12  State for each day or fraction thereof during which an employee

4-13  of the Department is engaged in examining those documents, plus

4-14  any other actual expenses incurred by the employee while he is

4-15  absent from his regular place of employment to examine those

4-16  documents.

4-17      Sec. 15.  1.  Except as otherwise provided in this section and

4-18  NRS 360.250, the records and files of the Department concerning

4-19  the administration of this chapter are confidential and privileged.

4-20  The Department, and any employee engaged in the administration

4-21  of this chapter or charged with the custody of any such records or

4-22  files, shall not disclose any information obtained from the

4-23  Department’s records or files or from any examination,

4-24  investigation or hearing authorized by the provisions of this

4-25  chapter. Neither the Department nor any employee of the

4-26  Department may be required to produce any of the records, files

4-27  and information for the inspection of any person or for use in any

4-28  action or proceeding.

4-29      2.  The records and files of the Department concerning the

4-30  administration of this chapter are not confidential and privileged

4-31  in the following cases:

4-32      (a) Testimony by a member or employee of the Department

4-33  and production of records, files and information on behalf of the

4-34  Department or a taxpayer in any action or proceeding pursuant to

4-35  the provisions of this chapter if that testimony or the records, files

4-36  or information, or the facts shown thereby are directly involved in

4-37  the action or proceeding.

4-38      (b) Delivery to a taxpayer or his authorized representative of a

4-39  copy of any return or other document filed by the taxpayer

4-40  pursuant to this chapter.

4-41      (c) Publication of statistics so classified as to prevent the

4-42  identification of a particular business entity or document.

4-43      (d) Exchanges of information with the Internal Revenue

4-44  Service in accordance with compacts made and provided for in

4-45  such cases.

5-1  (e) Disclosure in confidence to the Governor or his agent in

5-2  the exercise of the Governor’s general supervisory powers, or to

5-3  any person authorized to audit the accounts of the Department in

5-4  pursuance of an audit, or to the Attorney General or other legal

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

5-6  proceeding pursuant to this chapter, or to any agency of this or

5-7  any other state charged with the administration or enforcement of

5-8  laws relating to taxation.

5-9  (f) Exchanges of information pursuant to subsection 3.

5-10      3.  The Commission may agree with any county fair and

5-11  recreation board or the governing body of any county, city or town

5-12  for the continuing exchange of information concerning taxpayers.

5-13      Sec. 16.  A natural person engaging in a business shall be

5-14  deemed to be a business entity that is subject to the provisions of

5-15  this chapter if the person is required to file with the Internal

5-16  Revenue Service a Schedule C (Form 1040), Profit or Loss From

5-17  Business Form, or its equivalent or successor form, or a Schedule

5-18  F (Form 1040), Profit or Loss From Farming Form, or its

5-19  equivalent or successor form, for the business.

5-20      Sec. 17.  1.  An excise tax is hereby imposed upon each

5-21  business entity for the privilege of engaging in a business in this

5-22  state at the rate of 0.25 percent of:

5-23      (a) Except as otherwise provided in paragraph (b), the amount

5-24  of the gross receipts of the business entity in this state per calendar

5-25  quarter in excess of the quarterly exclusion; or

5-26      (b) If the business consists of the production of tangible

5-27  personal property in this state, the value of the products of the

5-28  business entity per calendar quarter in excess of the quarterly

5-29  exclusion. For the purpose of this paragraph:

5-30          (1) Except as otherwise provided in subparagraph (2), the

5-31  value of the products shall be deemed equal to the gross receipts

5-32  derived from the sale of the products, irrespective of the location

5-33  of the sale; or

5-34          (2) If the Department determines that the gross receipts

5-35  derived from the sale of the products are not indicative of the true

5-36  value of the subject matter of the sale, the Department may

5-37  determine the value of the products based upon the gross receipts

5-38  from sales within this state of similar products of like character

5-39  and quality, in similar quantities by other business entities.

5-40      2.  Each business entity engaging in a business in this state

5-41  during a calendar quarter shall file with the Department a return

5-42  on a form prescribed by the Department, together with the

5-43  remittance of any tax due pursuant to this chapter for that

5-44  calendar quarter, on or before the last day of the month

5-45  immediately following that calendar quarter.

6-1  3.  If the amount of the gross receipts of a business entity for a

6-2  calendar quarter is less than $87,500, including the value of the

6-3  products of the business entity if the business consists of the

6-4  production of tangible personal property in this state, the business

6-5  entity may add the sum obtained by subtracting that amount from

6-6  $87,500, to the amount excluded pursuant to this section from the

6-7  taxable amount of the gross receipts of the business entity for any

6-8  other calendar quarter of the same fiscal year.

6-9  4.  For the purposes of this section, “quarterly exclusion”

6-10  means the sum of $87,500 and any additional amount authorized

6-11  for a calendar quarter pursuant to subsection 3.

6-12      Sec. 18.  1.  Except as otherwise provided in subsection 2:

6-13      (a) If a business entity is liable for the tax imposed pursuant to

6-14  chapter 364A of NRS, the business entity is entitled to a credit

6-15  against the tax imposed pursuant to this chapter for each calendar

6-16  quarter in the amount of $25 for each equivalent full-time

6-17  employee employed by the business entity in this state during that

6-18  calendar quarter, as calculated pursuant to chapter 364A of NRS.

6-19      (b) If a business entity is liable for a tax imposed in another

6-20  state which is calculated solely on the basis of the number of

6-21  employees employed by the business entity in that state, the

6-22  business entity is entitled to a credit against the tax imposed

6-23  pursuant to this chapter in the amount of:

6-24          (1) The tax paid in the other state; or

6-25          (2) Twenty-five dollars for each equivalent full-time

6-26  employee employed by the business entity in that state during

6-27  the calendar quarter, as calculated pursuant to chapter 364A of

6-28  NRS,

6-29  whichever is less.

6-30      (c) If a business consists of the production of tangible personal

6-31  property in this state and the business entity is liable for a gross

6-32  receipts tax imposed in another state for the sale of that property

6-33  in that state, the business entity is entitled to a credit against the

6-34  tax imposed pursuant to this chapter in the amount of the gross

6-35  receipts tax paid in that other state for the sale of that property in

6-36  that state, except that the amount of the credit must not exceed the

6-37  amount of the tax imposed pursuant to this chapter for the

6-38  production of that property which is sold in that state.

6-39      (d) If a business consists of the production of tangible personal

6-40  property in another state and the sale of that property in this state,

6-41  and the business entity is liable for a gross receipts tax imposed in

6-42  that other state for the production of that property in that state, the

6-43  business entity is entitled to a credit against the tax imposed

6-44  pursuant to this chapter in the amount of the gross receipts tax

6-45  paid in that other state for the production of that property which is

7-1  sold in this state, except that the amount of the credit must not

7-2  exceed the amount of the tax imposed pursuant to this chapter for

7-3  the sale of that property in this state.

7-4  2.  If the total amount of the credits calculated pursuant to

7-5  subsection 1 for a calendar quarter exceeds the amount of the tax

7-6  for which the business entity would otherwise be liable pursuant to

7-7  this chapter for that calendar quarter, the business entity may

7-8  apply the amount of those credits for that calendar quarter which

7-9  exceeds the amount of the tax for that calendar quarter to reduce

7-10  the amount of the tax due from the business entity pursuant to this

7-11  chapter for any other calendar quarter of the same fiscal year.

7-12      3.  The Department shall adopt regulations to carry out the

7-13  provisions of this section.

7-14      4.  As used in this section:

7-15      (a) “Gross receipts tax” means a tax which:

7-16          (1) Is imposed upon or measured by the gross volume of

7-17  business, in terms of gross receipts or other terms;

7-18          (2) Does not, as a result of any deductions allowed in the

7-19  calculation of the tax, constitute an income tax or a value-added

7-20  tax; and

7-21          (3) Is not, either by law or custom, stated to a purchaser

7-22  separately from the sales price.

7-23      (b) “State” includes:

7-24          (1) A state of the United States, the District of Columbia,

7-25  Puerto Rico, the United States Virgin Islands and any territory or

7-26  insular possession subject to the jurisdiction of the United States,

7-27  and any agency or political subdivision thereof; and

7-28          (2) A foreign country and any agency or political

7-29  subdivision thereof.

7-30      Sec. 19.  In calculating the tax liability of a business entity

7-31  pursuant to this chapter, the business entity is entitled to deduct

7-32  from its gross receipts:

7-33      1.  Any revenue which this state is prohibited from taxing

7-34  pursuant to the Constitution or laws of the United States or the

7-35  Nevada Constitution.

7-36      2.  The amount of any federal, state or local governmental

7-37  fuel taxes collected by the business entity.

7-38      3.  Any revenue of the business entity attributable to interest

7-39  upon any bonds or securities of the Federal Government, the State

7-40  of Nevada or a political subdivision of this state.

7-41      4.  Any pass-through revenue of the business entity.

7-42      5.  Any revenue received as dividends or distributions by a

7-43  parent organization from the capital account of a subsidiary entity

7-44  of the parent organization.

8-1  6.  Any revenue received by a hospital from a governmental

8-2  entity.

8-3  7.  Any cash discounts the business entity allows a purchaser

8-4  of property, rights or services.

8-5  8.  Any indebtedness to the business entity which is impossible

8-6  or impracticable to collect and which is written off by the business

8-7  entity as a bad debt for purposes of federal taxation.

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

8-9  which the business entity is not reimbursed.

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

8-11  entity upon claims for health, casualty or life insurance.

8-12      Sec. 20.  1.  The Department shall adopt regulations

8-13  providing for the allocation or apportionment of the tax liability

8-14  pursuant to this chapter of business entities engaging in a

8-15  business both within and outside of this state. The regulations

8-16  must:

8-17      (a) Except as otherwise provided in this section, be consistent

8-18  with the methods of dividing income contained in the Uniform

8-19  Division of Income for Tax Purposes Act.

8-20      (b) If the business consists of a financial activity, as defined in

8-21  the Uniform Division of Income for Tax Purposes Act, be

8-22  consistent with the Recommended Formula for the Apportionment

8-23  and Allocation of Net Income of Financial Institutions.

8-24      (c) If the business consists of the production or sale of tangible

8-25  personal property, provide methods and conditions for allocating

8-26  gross receipts to this state.

8-27      2.  As used in this section:

8-28      (a) “Recommended Formula for the Apportionment and

8-29  Allocation of Net Income of Financial Institutions” means the

8-30  provisions of the Recommended Formula for the Apportionment

8-31  and Allocation of Net Income of Financial Institutions adopted by

8-32  the Multistate Tax Commission, as those provisions existed on

8-33  July 1, 2003.

8-34      (b) “Uniform Division of Income for Tax Purposes Act”

8-35  means the provisions of the Uniform Division of Income for Tax

8-36  Purposes Act approved by the National Conference of

8-37  Commissioners on Uniform State Laws, as those provisions

8-38  existed on July 1, 2003.

8-39      Sec. 21.  The Department shall, upon application by a

8-40  business entity engaging in a business both within and outside of

8-41  this state, reduce the tax liability of the business entity pursuant to

8-42  this chapter to the extent required by the Constitution or laws of

8-43  the United States or the Nevada Constitution, as a result of the tax

8-44  liability of the business entity to other states and their political

8-45  subdivisions.

9-1  Sec. 22.  1.  If the Department determines, after notice and

9-2  hearing, that:

9-3  (a) A business entity and one or more of its affiliated business

9-4  entities are engaged in the same or a similar type of business; and

9-5  (b) The purpose of engaging in that type of business through

9-6  affiliated business entities is to avoid or to reduce liability for

9-7  the tax imposed by this chapter by increasing the amount

9-8  excluded from taxable gross receipts pursuant to section 17 of

9-9  this act,

9-10  the Department shall, notwithstanding the provisions of section 17

9-11  of this act, disallow the use of that exclusion by more than one of

9-12  those business entities.

9-13      2.  For the purposes of this section:

9-14      (a) “Affiliated business entity” means a business entity that

9-15  directly, or indirectly through one or more intermediaries,

9-16  controls, is controlled by or is under common control with,

9-17  another specified business entity.

9-18      (b) “Control,” as used in the terms “controls,” “controlled by”

9-19  and “under common control with,” means the possession, directly

9-20  or indirectly, of the power to direct or cause the direction of the

9-21  management and policies of a business entity, whether through

9-22  the ownership of voting securities, by contract or otherwise.

9-23      Sec. 23.  Upon written application made before the date on

9-24  which payment must be made, the Department may for good cause

9-25  extend by 30 days the time within which a business entity is

9-26  required to pay the tax imposed by this chapter. If the tax is paid

9-27  during the period of extension, no penalty or late charge may be

9-28  imposed for failure to pay at the time required, but the business

9-29  entity shall pay interest at the rate of 1 percent per month from the

9-30  date on which the amount would have been due without the

9-31  extension until the date of payment, unless otherwise provided in

9-32  NRS 360.232 or 360.320.

9-33      Sec. 24.  The remedies of the State provided for in this

9-34  chapter are cumulative, and no action taken by the Department or

9-35  the Attorney General constitutes an election by the State to pursue

9-36  any remedy to the exclusion of any other remedy for which

9-37  provision is made in this chapter.

9-38      Sec. 25.  If the Department determines that any tax, penalty

9-39  or interest has been paid more than once or has been erroneously

9-40  or illegally collected or computed, the Department shall set forth

9-41  that fact in the records of the Department and certify to the State

9-42  Board of Examiners the amount collected in excess of the amount

9-43  legally due and the business entity or person from which it was

9-44  collected or by whom paid. If approved by the State Board of

9-45  Examiners, the excess amount collected or paid must be credited

10-1  on any amounts then due from the person or business entity under

10-2  this chapter, and the balance refunded to the person or business

10-3  entity, or its successors, administrators or executors.

10-4      Sec. 26.  1.  Except as otherwise provided in NRS 360.235

10-5  and 360.395:

10-6      (a) No refund may be allowed unless a claim for it is filed

10-7  with the Department within 3 years after the last day of July

10-8  immediately following the close of the fiscal year for which the

10-9  overpayment was made.

10-10     (b) No credit may be allowed after the expiration of the period

10-11  specified for filing claims for refund unless a claim for credit is

10-12  filed with the Department within that period.

10-13     2.  Each claim must be in writing and must state the specific

10-14  grounds upon which the claim is founded.

10-15     3.  Failure to file a claim within the time prescribed in this

10-16  chapter constitutes a waiver of any demand against the State on

10-17  account of overpayment.

10-18     4.  Within 30 days after rejecting any claim in whole or in

10-19  part, the Department shall serve notice of its action on the

10-20  claimant in the manner prescribed for service of notice of a

10-21  deficiency determination.

10-22     Sec. 27.  1.  Except as otherwise provided in this section and

10-23  NRS 360.320, interest must be paid upon any overpayment of any

10-24  amount of the tax imposed by this chapter at the rate of 0.5

10-25  percent per month, or fraction thereof, from the last day of July

10-26  immediately following the fiscal year for which the overpayment

10-27  was made. No refund or credit may be made of any interest

10-28  imposed upon the person or business entity making the

10-29  overpayment with respect to the amount being refunded or

10-30  credited.

10-31     2.  The interest must be paid:

10-32     (a) In the case of a refund, to the last day of the calendar

10-33  month following the date upon which the person making the

10-34  overpayment, if he has not already filed a claim, is notified by

10-35  the Department that a claim may be filed or the date upon which

10-36  the claim is certified to the State Board of Examiners, whichever is

10-37  earlier.

10-38     (b) In the case of a credit, to the same date as that to which

10-39  interest is computed on the tax or the amount against which the

10-40  credit is applied.

10-41     3.  If the Department determines that any overpayment has

10-42  been made intentionally or by reason of carelessness, it shall not

10-43  allow any interest on the overpayment.

10-44     Sec. 28.  1.  No injunction, writ of mandate or other legal or

10-45  equitable process may issue in any suit, action or proceeding in

11-1  any court against this state or against any officer of the State to

11-2  prevent or enjoin the collection under this chapter of the tax

11-3  imposed by this chapter or any amount of tax, penalty or interest

11-4  required to be collected.

11-5      2.  No suit or proceeding may be maintained in any court for

11-6  the recovery of any amount alleged to have been erroneously or

11-7  illegally determined or collected unless a claim for refund or credit

11-8  has been filed.

11-9      Sec. 29.  1.  Within 90 days after a final decision upon a

11-10  claim filed pursuant to this chapter is rendered by the

11-11  Commission, the claimant may bring an action against the

11-12  Department on the grounds set forth in the claim in a court of

11-13  competent jurisdiction in Carson City, the county of this state

11-14  where the claimant resides or maintains his principal place of

11-15  business or a county in which any relevant proceedings were

11-16  conducted by the Department, for the recovery of the whole or any

11-17  part of the amount with respect to which the claim has been

11-18  disallowed.

11-19     2.  Failure to bring an action within the time specified

11-20  constitutes a waiver of any demand against the State on account of

11-21  alleged overpayments.

11-22     Sec. 30.  1.  If the Department fails to mail notice of action

11-23  on a claim within 6 months after the claim is filed, the claimant

11-24  may consider the claim disallowed and file an appeal with the

11-25  Commission within 30 days after the last day of the 6-month

11-26  period. If the claimant is aggrieved by the decision of the

11-27  Commission rendered on appeal, the claimant may, within 90 days

11-28  after the decision is rendered, bring an action against the

11-29  Department on the grounds set forth in the claim for the recovery

11-30  of the whole or any part of the amount claimed as an

11-31  overpayment.

11-32     2.  If judgment is rendered for the plaintiff, the amount of

11-33  the judgment must first be credited towards any tax due from the

11-34  plaintiff.

11-35     3.  The balance of the judgment must be refunded to the

11-36  plaintiff.

11-37     Sec. 31.  In any judgment, interest must be allowed at the rate

11-38  of 6 percent per annum upon the amount found to have been

11-39  illegally collected from the date of payment of the amount to the

11-40  date of allowance of credit on account of the judgment, or to a

11-41  date preceding the date of the refund warrant by not more than 30

11-42  days. The date must be determined by the Department.

11-43     Sec. 32.  A judgment may not be rendered in favor of the

11-44  plaintiff in any action brought against the Department to recover

11-45  any amount paid when the action is brought by or in the name of

12-1  an assignee of the business entity paying the amount or by any

12-2  person other than the person or business entity which paid the

12-3  amount.

12-4      Sec. 33.  1.  The Department may recover a refund or any

12-5  part thereof which is erroneously made and any credit or part

12-6  thereof which is erroneously allowed in an action brought in a

12-7  court of competent jurisdiction in Carson City or Clark County in

12-8  the name of the State of Nevada.

12-9      2.  The action must be tried in Carson City or Clark County

12-10  unless the court, with the consent of the Attorney General, orders

12-11  a change of place of trial.

12-12     3.  The Attorney General shall prosecute the action, and the

12-13  provisions of NRS, the Nevada Rules of Civil Procedure and the

12-14  Nevada Rules of Appellate Procedure relating to service of

12-15  summons, pleadings, proofs, trials and appeals are applicable to

12-16  the proceedings.

12-17     Sec. 34.  1.  If any amount in excess of $25 has been

12-18  illegally determined, either by the Department or by the person

12-19  filing the return, the Department shall certify this fact to the State

12-20  Board of Examiners, and the latter shall authorize the

12-21  cancellation of the amount upon the records of the Department.

12-22     2.  If an amount not exceeding $25 has been illegally

12-23  determined, either by the Department or by the person or business

12-24  entity filing the return, the Department, without certifying this fact

12-25  to the State Board of Examiners, shall authorize the cancellation

12-26  of the amount upon the records of the Department.

12-27     Sec. 35.  1.  A person shall not:

12-28     (a) Make, cause to be made or permit to be made any false or

12-29  fraudulent return or declaration or false statement in any return

12-30  or declaration with intent to defraud the State or to evade payment

12-31  of the tax or any part of the tax imposed by this chapter.

12-32     (b) Make, cause to be made or permit to be made any false

12-33  entry in books, records or accounts with intent to defraud the State

12-34  or to evade the payment of the tax or any part of the tax imposed

12-35  by this chapter.

12-36     (c) Keep, cause to be kept or permit to be kept more than one

12-37  set of books, records or accounts with intent to defraud the State

12-38  or to evade the payment of the tax or any part of the tax imposed

12-39  by this chapter.

12-40     2.  Any person who violates the provisions of subsection 1 is

12-41  guilty of a gross misdemeanor.

 

 

13-1      Sec. 36.  Title 32 of NRS is hereby amended by adding thereto

13-2  a new chapter to consist of the provisions set forth as sections 37 to

13-3  63, inclusive, of this act.

13-4      Sec. 37.  As used in this chapter, unless the context otherwise

13-5  requires, the words and terms defined in sections 38 to 41,

13-6  inclusive, of this act have the meanings ascribed to them in those

13-7  sections.

13-8      Sec. 38.  “Admission charge” means the total amount,

13-9  expressed in terms of money, of:

13-10     1.  Any consideration provided, whether directly or indirectly,

13-11  for the right or privilege to have access to a place or location

13-12  where group entertainment is provided; and

13-13     2.  If any consideration is otherwise required for the right or

13-14  privilege to have access to a place or location where group

13-15  entertainment is provided and all or part of that consideration is

13-16  waived as part of a promotional or marketing plan, the

13-17  consideration that would otherwise be required.

13-18     Sec. 39.  “Commission” means the Nevada Tax Commission.

13-19     Sec. 40.  “Group entertainment” means entertainment

13-20  provided for groups of spectators, including, without limitation:

13-21     1.  Athletic and sporting events, including, without limitation,

13-22  motor sports, rodeos and equestrian events.

13-23     2.  Closed circuit and other transmissions of events.

13-24     3.  Displays of motion pictures.

13-25     4.  Concerts.

13-26     5.  Theatrical productions, stage productions and other

13-27  presentations of performing arts, including, without limitation,

13-28  circuses and ice shows.

13-29     6.  Exhibitions of art, skills or goods.

13-30     7.  Beauty contests.

13-31     8.  Lectures and speaking performances.

13-32     9.  Live entertainment provided at cocktail lounges, nightclubs

13-33  and similar venues.

13-34     10.  Adult cabarets, gentlemen’s clubs and similar forms of

13-35  entertainment.

13-36     11.  Tours and tour services.

13-37     Sec. 41.  “Taxpayer” means any person liable for a tax

13-38  imposed pursuant to this chapter.

13-39     Sec. 42.  The Department shall:

13-40     1.  Administer and enforce the provisions of this chapter, and

13-41  may adopt such regulations as it deems appropriate for that

13-42  purpose.

13-43     2.  Deposit all taxes, interest and penalties it receives pursuant

13-44  to this chapter in the State Treasury for credit to the State General

13-45  Fund.

14-1      Sec. 43.  1.  Each person responsible for maintaining the

14-2  records of a taxpayer shall:

14-3      (a) Keep such records as may be necessary to determine the

14-4  amount of the liability of the taxpayer pursuant to the provisions

14-5  of this chapter;

14-6      (b) Preserve those records for 4 years or until any litigation or

14-7  prosecution pursuant to this chapter is finally determined,

14-8  whichever is longer; and

14-9      (c) Make the records available for inspection by the

14-10  Department upon demand at reasonable times during regular

14-11  business hours.

14-12     2.  The Department may by regulation specify the types of

14-13  records which must be kept to determine the amount of the

14-14  liability of a taxpayer pursuant to the provisions of this chapter.

14-15     3.  Any person who violates the provisions of subsection 1 is

14-16  guilty of a misdemeanor.

14-17     Sec. 44.  1.  To verify the accuracy of any return filed or, if

14-18  no return is filed by a taxpayer, to determine the amount required

14-19  to be paid, the Department, or any person authorized in writing by

14-20  the Department, may examine the books, papers and records of

14-21  any person who may be liable for a tax imposed by this chapter.

14-22     2.  Any person who may be liable for a tax imposed by this

14-23  chapter and who keeps outside of this state any books, papers and

14-24  records relating thereto shall pay to the Department an amount

14-25  equal to the allowance provided for state officers and employees

14-26  generally while traveling outside of the State for each day or

14-27  fraction thereof during which an employee of the Department is

14-28  engaged in examining those documents, plus any other actual

14-29  expenses incurred by the employee while he is absent from his

14-30  regular place of employment to examine those documents.

14-31     Sec. 45.  1.  Except as otherwise provided in this section and

14-32  NRS 360.250, the records and files of the Department concerning

14-33  the administration of this chapter are confidential and privileged.

14-34  The Department, and any employee engaged in the administration

14-35  of this chapter or charged with the custody of any such records or

14-36  files, shall not disclose any information obtained from the

14-37  Department’s records or files or from any examination,

14-38  investigation or hearing authorized by the provisions of this

14-39  chapter. Neither the Department nor any employee of the

14-40  Department may be required to produce any of the records, files

14-41  and information for the inspection of any person or for use in any

14-42  action or proceeding.

14-43     2.  The records and files of the Department concerning the

14-44  administration of this chapter are not confidential and privileged

14-45  in the following cases:

15-1      (a) Testimony by a member or employee of the Department

15-2  and production of records, files and information on behalf of the

15-3  Department or a taxpayer in any action or proceeding pursuant to

15-4  the provisions of this chapter if that testimony or the records, files

15-5  or information, or the facts shown thereby are directly involved in

15-6  the action or proceeding.

15-7      (b) Delivery to a taxpayer or his authorized representative of a

15-8  copy of any return or other document filed by the taxpayer

15-9  pursuant to this chapter.

15-10     (c) Publication of statistics so classified as to prevent the

15-11  identification of a particular person or document.

15-12     (d) Exchanges of information with the Internal Revenue

15-13  Service in accordance with compacts made and provided for

15-14  in such cases.

15-15     (e) Disclosure in confidence to the Governor or his agent in

15-16  the exercise of the Governor’s general supervisory powers, or to

15-17  any person authorized to audit the accounts of the Department in

15-18  pursuance of an audit, or to the Attorney General or other legal

15-19  representative of the State in connection with an action or

15-20  proceeding pursuant to this chapter, or to any agency of this or

15-21  any other state charged with the administration or enforcement of

15-22  laws relating to taxation.

15-23     (f) Exchanges of information pursuant to subsection 3.

15-24     3.  The Commission may agree with any county fair and

15-25  recreation board or the governing body of any county, city or town

15-26  for the continuing exchange of information concerning taxpayers.

15-27     Sec. 46.  1.  There is hereby imposed an excise tax of 6.5

15-28  percent of the admission charge to any place or location in this

15-29  state where group entertainment is provided.

15-30     2.  The person who receives an admission charge is liable for

15-31  the tax imposed by this section, but is entitled to collect

15-32  reimbursement from the person paying the admission charge.

15-33     3.  Any ticket for admission to a place or location in this state

15-34  where group entertainment is provided must state whether the tax

15-35  imposed by this section is included in the price of the ticket. If the

15-36  ticket does not include such a statement, the taxpayer shall pay the

15-37  tax on the face amount of the ticket.

15-38     4.  The tax imposed by this section does not apply to an

15-39  admission charge:

15-40     (a)  Included in the computation of the tax imposed pursuant

15-41  to NRS 463.401 or any fee imposed pursuant to chapter 467 of

15-42  NRS;

15-43     (b) Provided to a governmental entity or a public or private

15-44  educational institution for any group entertainment sponsored by

15-45  a governmental entity;

16-1      (c) Provided to a nonprofit organization that qualifies as a

16-2  tax-exempt organization pursuant to 26 U.S.C. § 501(c), or to

16-3  a person who remits to such a nonprofit organization at least 60

16-4  percent of the net revenue from the group entertainment for which

16-5  access is granted;

16-6      (d) Provided for the right or privilege to have access to a

16-7  convention, an exhibition or a trade show, if the opportunity for

16-8  admission is not made available to the general public; or

16-9      (e) Provided for the right or privilege to engage in a

16-10  participatory recreational activity, including, without limitation,

16-11  any consideration provided:

16-12         (1) For the use or rental of bicycles, boats, exercise

16-13  equipment, horses, motorcycles, snowboards, skis or other

16-14  recreational equipment;

16-15         (2) To engage in games of billiards, bowling, golf,

16-16  racquetball or tennis, or similar recreational games;

16-17         (3) To engage in aerobics, calisthenics, fishing, hunting,

16-18  running, shooting, skiing, snowboarding, swimming, ice skating,

16-19  roller skating or similar recreational activities;

16-20         (4) For memberships in country clubs, golf clubs, tennis

16-21  clubs, gun clubs or similar recreational clubs;

16-22         (5) For access to the participatory portions of amusement,

16-23  theme or water parks, or similar recreational parks; or

16-24         (6) To participate in classes of instruction on recreational

16-25  activities, including, without limitation, classes of instruction in

16-26  arts and crafts, culinary arts, massage, yoga, athletic or sporting

16-27  activities, or similar recreational activities.

16-28     Sec. 47.  1.  There is hereby imposed an excise tax of 6.5

16-29  percent of the rental price for the rental in this state of videotapes,

16-30  videodiscs and programs for video games.

16-31     2.  The person who receives the rental price is liable for the

16-32  tax imposed by this section, but is entitled to collect reimbursement

16-33  from the person paying the rental price.

16-34     3.  Any receipt for the rental in this state of videotapes,

16-35  videodiscs and programs for video games must indicate whether

16-36  the tax imposed by this section has been collected from the person

16-37  paying the rental price. If the receipt does not indicate that the tax

16-38  has been collected from that person, the taxpayer shall pay the tax

16-39  on the face amount of the receipt.

16-40     4.  The tax imposed by this section does not apply to any fee,

16-41  charge or other consideration:

16-42     (a) Provided to a governmental entity or a public or private

16-43  educational institution; or

16-44     (b) Provided to a nonprofit organization that qualifies as a

16-45  tax-exempt organization pursuant to 26 U.S.C. § 501(c) or to

 

17-1  a person who remits to such a nonprofit organization at least 60

17-2  percent of the net revenue from the rental.

17-3      5.  As used in this section, “rental price” means the total

17-4  amount, expressed in terms of money, of any consideration

17-5  provided for the rental of videotapes, videodiscs or programs for

17-6  video games.

17-7      Sec. 48.  A taxpayer shall hold the amount of all taxes for

17-8  which he is liable pursuant to this chapter in a separate account in

17-9  trust for the State.

17-10     Sec. 49.  1.  The taxes imposed by this chapter are payable to

17-11  the Department monthly on or before the last day of the month

17-12  immediately following the month in which liability for the tax

17-13  arose.

17-14     2.  Each taxpayer shall file with the Department a return on a

17-15  form prescribed by the Department, together with the remittance

17-16  of any tax due pursuant to this chapter, on or before the last day

17-17  of the month immediately following the month in which liability

17-18  for the tax arose.

17-19     Sec. 50.  A taxpayer may deduct and withhold from the

17-20  amount of the taxes otherwise due from him pursuant to this

17-21  chapter 1.25 percent of that amount to reimburse himself for the

17-22  cost of collecting, reporting and remitting the taxes.

17-23     Sec. 51.  Upon written application made before the date on

17-24  which payment must be made, the Department may for good cause

17-25  extend by 30 days the time within which a taxpayer is required to

17-26  pay a tax imposed by this chapter. If the tax is paid during the

17-27  period of extension, no penalty or late charge may be imposed for

17-28  failure to pay at the time required, but the taxpayer shall pay

17-29  interest at the rate of 1 percent per month from the date on which

17-30  the amount would have been due without the extension until the

17-31  date of payment, unless otherwise provided in NRS 360.232 or

17-32  360.320.

17-33     Sec. 52.  The remedies of the State provided for in this

17-34  chapter are cumulative, and no action taken by the Department or

17-35  the Attorney General constitutes an election by the State to pursue

17-36  any remedy to the exclusion of any other remedy for which

17-37  provision is made in this chapter.

17-38     Sec. 53.  If the Department determines that any tax, penalty

17-39  or interest has been paid more than once or has been erroneously

17-40  or illegally collected or computed, the Department shall set forth

17-41  that fact in the records of the Department and certify to the State

17-42  Board of Examiners the amount collected in excess of the amount

17-43  legally due and the person from which it was collected or by whom

17-44  paid. If approved by the State Board of Examiners, the excess

17-45  amount collected or paid must be credited on any amounts then

18-1  due from the person under this chapter, and the balance refunded

18-2  to the person or his successors in interest.

18-3      Sec. 54.  1.  Except as otherwise provided in NRS 360.235

18-4  and 360.395:

18-5      (a) No refund may be allowed unless a claim for it is filed with

18-6  the Department within 3 years after the last day of the month

18-7  following the month for which the overpayment was made.

18-8      (b) No credit may be allowed after the expiration of the period

18-9  specified for filing claims for refund unless a claim for credit is

18-10  filed with the Department within that period.

18-11     2.  Each claim must be in writing and must state the specific

18-12  grounds upon which the claim is founded.

18-13     3.  Failure to file a claim within the time prescribed in this

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

18-15  account of overpayment.

18-16     4.  Within 30 days after rejecting any claim in whole or in

18-17  part, the Department shall serve notice of its action on the

18-18  claimant in the manner prescribed for service of notice of a

18-19  deficiency determination.

18-20     Sec. 55.  1.  Except as otherwise provided in this section and

18-21  NRS 360.320, interest must be paid upon any overpayment of any

18-22  amount of the taxes imposed by this chapter at the rate of 0.5

18-23  percent per month, or fraction thereof, from the last day of the

18-24  calendar month following the month for which the overpayment

18-25  was made. No refund or credit may be made of any interest

18-26  imposed upon the person making the overpayment with respect to

18-27  the amount being refunded or credited.

18-28     2.  The interest must be paid:

18-29     (a) In the case of a refund, to the last day of the calendar

18-30  month following the date upon which the person making the

18-31  overpayment, if he has not already filed a claim, is notified by

18-32  the Department that a claim may be filed or the date upon which

18-33  the claim is certified to the State Board of Examiners, whichever is

18-34  earlier.

18-35     (b) In the case of a credit, to the same date as that to which

18-36  interest is computed on the tax or the amount against which the

18-37  credit is applied.

18-38     3.  If the Department determines that any overpayment has

18-39  been made intentionally or by reason of carelessness, the

18-40  Department shall not allow any interest on the overpayment.

18-41     Sec. 56.  1.  No injunction, writ of mandate or other legal or

18-42  equitable process may issue in any suit, action or proceeding in

18-43  any court against this state or against any officer of the State to

18-44  prevent or enjoin the collection under this chapter of a tax

19-1  imposed by this chapter or any amount of tax, penalty or interest

19-2  required to be collected.

19-3      2.  No suit or proceeding may be maintained in any court for

19-4  the recovery of any amount alleged to have been erroneously or

19-5  illegally determined or collected unless a claim for refund or credit

19-6  has been filed.

19-7      Sec. 57.  1.  Within 90 days after a final decision upon a

19-8  claim filed pursuant to this chapter is rendered by the

19-9  Commission, the claimant may bring an action against the

19-10  Department on the grounds set forth in the claim in a court of

19-11  competent jurisdiction in Carson City, the county of this state

19-12  where the claimant resides or maintains his principal place of

19-13  business or a county in which any relevant proceedings were

19-14  conducted by the Department, for the recovery of the whole or any

19-15  part of the amount with respect to which the claim has been

19-16  disallowed.

19-17     2.  Failure to bring an action within the time specified

19-18  constitutes a waiver of any demand against the State on account of

19-19  alleged overpayments.

19-20     Sec. 58.  1.  If the Department fails to mail notice of action

19-21  on a claim within 6 months after the claim is filed, the claimant

19-22  may consider the claim disallowed and file an appeal with the

19-23  Commission within 30 days after the last day of the 6-month

19-24  period. If the claimant is aggrieved by the decision of the

19-25  Commission rendered on appeal, the claimant may, within 90 days

19-26  after the decision is rendered, bring an action against the

19-27  Department on the grounds set forth in the claim for the recovery

19-28  of the whole or any part of the amount claimed as an

19-29  overpayment.

19-30     2.  If judgment is rendered for the plaintiff, the amount of

19-31  the judgment must first be credited towards any tax due from the

19-32  plaintiff.

19-33     3.  The balance of the judgment must be refunded to the

19-34  plaintiff.

19-35     Sec. 59.  In any judgment, interest must be allowed at the rate

19-36  of 6 percent per annum upon the amount found to have been

19-37  illegally collected from the date of payment of the amount to the

19-38  date of allowance of credit on account of the judgment, or to a

19-39  date preceding the date of the refund warrant by not more than 30

19-40  days. The date must be determined by the Department.

19-41     Sec. 60.  A judgment may not be rendered in favor of the

19-42  plaintiff in any action brought against the Department to recover

19-43  any amount paid when the action is brought by or in the name of

19-44  an assignee of the person paying the amount or by any person

19-45  other than the person who paid the amount.

20-1      Sec. 61.  1.  The Department may recover a refund or any

20-2  part thereof which is erroneously made and any credit or part

20-3  thereof which is erroneously allowed in an action brought in a

20-4  court of competent jurisdiction in Carson City or Clark County in

20-5  the name of the State of Nevada.

20-6      2.  The action must be tried in Carson City or Clark County

20-7  unless the court, with the consent of the Attorney General, orders

20-8  a change of place of trial.

20-9      3.  The Attorney General shall prosecute the action, and the

20-10  provisions of NRS, the Nevada Rules of Civil Procedure and the

20-11  Nevada Rules of Appellate Procedure relating to service of

20-12  summons, pleadings, proofs, trials and appeals are applicable to

20-13  the proceedings.

20-14     Sec. 62.  1.  If any amount in excess of $25 has been

20-15  illegally determined, either by the Department or by the person

20-16  filing the return, the Department shall certify this fact to the State

20-17  Board of Examiners, and the latter shall authorize the

20-18  cancellation of the amount upon the records of the Department.

20-19     2.  If an amount not exceeding $25 has been illegally

20-20  determined, either by the Department or by the person filing the

20-21  return, the Department, without certifying this fact to the State

20-22  Board of Examiners, shall authorize the cancellation of the

20-23  amount upon the records of the Department.

20-24     Sec. 63.  1.  A person shall not:

20-25     (a) Make, cause to be made or permit to be made any false or

20-26  fraudulent return or declaration or false statement in any return

20-27  or declaration with intent to defraud the State or to evade payment

20-28  of a tax or any part of a tax imposed by this chapter.

20-29     (b) Make, cause to be made or permit to be made any false

20-30  entry in books, records or accounts with intent to defraud the State

20-31  or to evade the payment of a tax or any part of a tax imposed by

20-32  this chapter.

20-33     (c) Keep, cause to be kept or permit to be kept more than one

20-34  set of books, records or accounts with intent to defraud the State

20-35  or to evade the payment of a tax or any part of a tax imposed by

20-36  this chapter.

20-37     2.  Any person who violates the provisions of subsection 1 is

20-38  guilty of a gross misdemeanor.

20-39     Sec. 64.  Chapter 360 of NRS is hereby amended by adding

20-40  thereto a new section to read as follows:

20-41     The Nevada Tax Commission shall adopt regulations providing

20-42  for:

20-43     1.  The electronic submission of returns to the Department;

20-44  and

21-1      2.  The payment of taxes, fees, interest and penalties to the

21-2  Department through the use of credit cards, debit cards and

21-3  electronic transfers of money.

21-4      Sec. 65.  NRS 360.2935 is hereby amended to read as follows:

21-5      360.2935  Except as otherwise provided in [NRS 361.485,] this

21-6  title, a taxpayer is entitled to receive on any overpayment of taxes,

21-7  after the offset required by NRS 360.320 has been made, a refund

21-8  together with interest at a rate determined pursuant to NRS 17.130.

21-9  No interest is allowed on a refund of any penalties or interest paid

21-10  by a taxpayer.

21-11     Sec. 66.  NRS 360.300 is hereby amended to read as follows:

21-12     360.300  1.  If a person fails to file a return or the Department

21-13  is not satisfied with the return or returns of any tax, contribution or

21-14  premium or amount of tax, contribution or premium required to be

21-15  paid to the State by any person, in accordance with the applicable

21-16  provisions of this chapter, chapter 362, 364A, 369, 370, 372, 372A,

21-17  374, 377, 377A or 444A of NRS, NRS 482.313, [or] chapter 585 or

21-18  680B of NRS , or sections 37 to 63, inclusive, of this act, as

21-19  administered or audited by the Department, it may compute and

21-20  determine the amount required to be paid upon the basis of:

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

21-22     (b) Any information within its possession or that may come into

21-23  its possession; or

21-24     (c) Reasonable estimates of the amount.

21-25     2.  One or more deficiency determinations may be made with

21-26  respect to the amount due for one or for more than one period.

21-27     3.  In making its determination of the amount required to be

21-28  paid, the Department shall impose interest on the amount of tax

21-29  determined to be due, calculated at the rate and in the manner set

21-30  forth in NRS 360.417, unless a different rate of interest is

21-31  specifically provided by statute.

21-32     4.  The Department shall impose a penalty of 10 percent in

21-33  addition to the amount of a determination that is made in the case of

21-34  the failure of a person to file a return with the Department.

21-35     5.  When a business is discontinued, a determination may be

21-36  made at any time thereafter within the time prescribed in NRS

21-37  360.355 as to liability arising out of that business, irrespective of

21-38  whether the determination is issued before the due date of the

21-39  liability.

21-40     Sec. 67.  NRS 360.300 is hereby amended to read as follows:

21-41     360.300  1.  If a person fails to file a return or the Department

21-42  is not satisfied with the return or returns of any tax, contribution or

21-43  premium or amount of tax, contribution or premium required to be

21-44  paid to the State by any person, in accordance with the applicable

21-45  provisions of this chapter, chapter 362, 364A, 369, 370, 372, 372A,

22-1  374, 377, 377A or 444A of NRS, NRS 482.313, chapter 585 or

22-2  680B of NRS, or sections 2 to 35, inclusive, or 37 to 63, inclusive,

22-3  of this act, as administered or audited by the Department, it may

22-4  compute and determine the amount required to be paid upon the

22-5  basis of:

22-6      (a) The facts contained in the return;

22-7      (b) Any information within its possession or that may come into

22-8  its possession; or

22-9      (c) Reasonable estimates of the amount.

22-10     2.  One or more deficiency determinations may be made with

22-11  respect to the amount due for one or for more than one period.

22-12     3.  In making its determination of the amount required to be

22-13  paid, the Department shall impose interest on the amount of tax

22-14  determined to be due, calculated at the rate and in the manner set

22-15  forth in NRS 360.417, unless a different rate of interest is

22-16  specifically provided by statute.

22-17     4.  The Department shall impose a penalty of 10 percent in

22-18  addition to the amount of a determination that is made in the case of

22-19  the failure of a person to file a return with the Department.

22-20     5.  When a business is discontinued, a determination may be

22-21  made at any time thereafter within the time prescribed in NRS

22-22  360.355 as to liability arising out of that business, irrespective of

22-23  whether the determination is issued before the due date of the

22-24  liability.

22-25     Sec. 68.  NRS 360.417 is hereby amended to read as follows:

22-26     360.417  Except as otherwise provided in NRS 360.232 and

22-27  360.320, and unless a different penalty or rate of interest is

22-28  specifically provided by statute, any person who fails to pay any tax

22-29  provided for in chapter 362, 364A, 369, 370, 372, 374, 377, 377A,

22-30  444A or 585 of NRS, or sections 37 to 63, inclusive, of this act, or

22-31  the fee provided for in NRS 482.313, to the State or a county within

22-32  the time required, shall pay a penalty of not more than 10 percent

22-33  of the amount of the tax or fee which is owed, as determined by the

22-34  Department, in addition to the tax or fee, plus interest at the rate of 1

22-35  percent per month, or fraction of a month, from the last day of the

22-36  month following the period for which the amount or any portion of

22-37  the amount should have been reported until the date of payment.

22-38  The amount of any penalty imposed must be based on a graduated

22-39  schedule adopted by the Nevada Tax Commission which takes into

22-40  consideration the length of time the tax or fee remained unpaid.

22-41     Sec. 69.  NRS 360.417 is hereby amended to read as follows:

22-42     360.417  Except as otherwise provided in NRS 360.232 and

22-43  360.320, and unless a different penalty or rate of interest is

22-44  specifically provided by statute, any person who fails to pay any tax

22-45  provided for in chapter 362, 364A, 369, 370, 372, 374, 377, 377A,

23-1  444A or 585 of NRS, or sections 2 to 35, inclusive, or 37 to 63,

23-2  inclusive, of this act, or the fee provided for in NRS 482.313, to the

23-3  State or a county within the time required, shall pay a penalty of not

23-4  more than 10 percent of the amount of the tax or fee which is owed,

23-5  as determined by the Department, in addition to the tax or fee, plus

23-6  interest at the rate of 1 percent per month, or fraction of a month,

23-7  from the last day of the month following the period for which the

23-8  amount or any portion of the amount should have been reported

23-9  until the date of payment. The amount of any penalty imposed must

23-10  be based on a graduated schedule adopted by the Nevada Tax

23-11  Commission which takes into consideration the length of time the

23-12  tax or fee remained unpaid.

23-13     Sec. 70.  NRS 360.419 is hereby amended to read as follows:

23-14     360.419  1.  If the Executive Director or a designated hearing

23-15  officer finds that the failure of a person to make a timely return or

23-16  payment of a tax imposed pursuant to NRS 361.320 or chapter

23-17  361A, 376A, 377 or 377A of NRS, or by chapter 362, 364A, 369,

23-18  370, 372, 372A, 374, 375A or 375B of NRS, or sections 37 to 63,

23-19  inclusive, of this act is the result of circumstances beyond his

23-20  control and occurred despite the exercise of ordinary care and

23-21  without intent, the Department may relieve him of all or part of any

23-22  interest or penalty , or both.

23-23     2.  A person seeking this relief must file with the Department a

23-24  statement under oath setting forth the facts upon which he bases his

23-25  claim.

23-26     3.  The Department shall disclose, upon the request of any

23-27  person:

23-28     (a) The name of the person to whom relief was granted; and

23-29     (b) The amount of the relief.

23-30     4.  The Executive Director or a designated hearing officer shall

23-31  act upon the request of a taxpayer seeking relief pursuant to NRS

23-32  361.4835 which is deferred by a county treasurer or county assessor.

23-33     Sec. 71.  NRS 360.419 is hereby amended to read as follows:

23-34     360.419  1.  If the Executive Director or a designated hearing

23-35  officer finds that the failure of a person to make a timely return or

23-36  payment of a tax imposed pursuant to NRS 361.320 or chapter

23-37  361A, 376A, 377 or 377A of NRS, or by chapter 362, 364A, 369,

23-38  370, 372, 372A, 374, 375A or 375B of NRS, or sections 2 to 35,

23-39  inclusive, or 37 to 63, inclusive, of this act is the result of

23-40  circumstances beyond his control and occurred despite the exercise

23-41  of ordinary care and without intent, the Department may relieve him

23-42  of all or part of any interest or penalty, or both.

23-43     2.  A person seeking this relief must file with the Department a

23-44  statement under oath setting forth the facts upon which he bases his

23-45  claim.

24-1      3.  The Department shall disclose, upon the request of any

24-2  person:

24-3      (a) The name of the person to whom relief was granted; and

24-4      (b) The amount of the relief.

24-5      4.  The Executive Director or a designated hearing officer shall

24-6  act upon the request of a taxpayer seeking relief pursuant to NRS

24-7  361.4835 which is deferred by a county treasurer or county assessor.

24-8      Sec. 72.  NRS 360.510 is hereby amended to read as follows:

24-9      360.510  1.  If any person is delinquent in the payment of any

24-10  tax or fee administered by the Department or if a determination has

24-11  been made against him which remains unpaid, the Department may:

24-12     (a) Not later than 3 years after the payment became delinquent

24-13  or the determination became final; or

24-14     (b) Not later than 6 years after the last recording of an abstract

24-15  of judgment or of a certificate constituting a lien for tax

24-16  owed,

24-17  give a notice of the delinquency and a demand to transmit

24-18  personally or by registered or certified mail to any person,

24-19  including, without limitation, any officer or department of this state

24-20  or any political subdivision or agency of this state, who has in his

24-21  possession or under his control any credits or other personal

24-22  property belonging to the delinquent, or owing any debts to the

24-23  delinquent or person against whom a determination has been made

24-24  which remains unpaid, or owing any debts to the delinquent or that

24-25  person. In the case of any state officer, department or agency, the

24-26  notice must be given to the officer, department or agency before

24-27  the Department presents the claim of the delinquent taxpayer to the

24-28  State Controller.

24-29     2.  A state officer, department or agency which receives such a

24-30  notice may satisfy any debt owed to it by that person before it

24-31  honors the notice of the Department.

24-32     3.  After receiving the demand to transmit, the person notified

24-33  by the demand may not transfer or otherwise dispose of the credits,

24-34  other personal property, or debts in his possession or under his

24-35  control at the time he received the notice until the Department

24-36  consents to a transfer or other disposition.

24-37     4.  Every person notified by a demand to transmit shall, within

24-38  10 days after receipt of the demand to transmit, inform the

24-39  Department of[,] and transmit to the Department all such credits,

24-40  other personal property[,] or debts in his possession, under his

24-41  control or owing by him within the time and in the manner

24-42  requested by the Department. Except as otherwise provided in

24-43  subsection 5, no further notice is required to be served to that

24-44  person.

25-1      5.  If the property of the delinquent taxpayer consists of a series

25-2  of payments owed to him, the person who owes or controls the

25-3  payments shall transmit the payments to the Department until

25-4  otherwise notified by the Department. If the debt of the delinquent

25-5  taxpayer is not paid within 1 year after the Department issued

25-6  the original demand to transmit, the Department shall issue

25-7  another demand to transmit to the person responsible for making

25-8  the payments informing him to continue to transmit payments to the

25-9  Department or that his duty to transmit the payments to the

25-10  Department has ceased.

25-11     6.  If the notice of the delinquency seeks to prevent the transfer

25-12  or other disposition of a deposit in a bank or credit union or other

25-13  credits or personal property in the possession or under the control of

25-14  a bank, credit union or other depository institution, the notice must

25-15  be delivered or mailed to any branch or office of the bank, credit

25-16  union or other depository institution at which the deposit is carried

25-17  or at which the credits or personal property is held.

25-18     7.  If any person notified by the notice of the delinquency

25-19  makes any transfer or other disposition of the property or debts

25-20  required to be withheld or transmitted, to the extent of the value of

25-21  the property or the amount of the debts thus transferred or paid, he is

25-22  liable to the State for any indebtedness due pursuant to this chapter,

25-23  [or] chapter 362, 364A, 369, 370, 372, 372A, 374, 377, 377A or

25-24  444A of NRS, NRS 482.313, or chapter 585 or 680B of NRS , or

25-25  sections 37 to 63, inclusive, of this act from the person with respect

25-26  to whose obligation the notice was given if solely by reason of

25-27  the transfer or other disposition the State is unable to recover the

25-28  indebtedness of the person with respect to whose obligation the

25-29  notice was given.

25-30     Sec. 73.  NRS 360.510 is hereby amended to read as follows:

25-31     360.510  1.  If any person is delinquent in the payment of any

25-32  tax or fee administered by the Department or if a determination has

25-33  been made against him which remains unpaid, the Department may:

25-34     (a) Not later than 3 years after the payment became delinquent

25-35  or the determination became final; or

25-36     (b) Not later than 6 years after the last recording of an abstract

25-37  of judgment or of a certificate constituting a lien for tax

25-38  owed,

25-39  give a notice of the delinquency and a demand to transmit

25-40  personally or by registered or certified mail to any person,

25-41  including, without limitation, any officer or department of this state

25-42  or any political subdivision or agency of this state, who has in his

25-43  possession or under his control any credits or other personal

25-44  property belonging to the delinquent, or owing any debts to the

25-45  delinquent or person against whom a determination has been made

26-1  which remains unpaid, or owing any debts to the delinquent or that

26-2  person. In the case of any state officer, department or agency, the

26-3  notice must be given to the officer, department or agency before

26-4  the Department presents the claim of the delinquent taxpayer to the

26-5  State Controller.

26-6      2.  A state officer, department or agency which receives such a

26-7  notice may satisfy any debt owed to it by that person before it

26-8  honors the notice of the Department.

26-9      3.  After receiving the demand to transmit, the person notified

26-10  by the demand may not transfer or otherwise dispose of the credits,

26-11  other personal property, or debts in his possession or under his

26-12  control at the time he received the notice until the Department

26-13  consents to a transfer or other disposition.

26-14     4.  Every person notified by a demand to transmit shall, within

26-15  10 days after receipt of the demand to transmit, inform the

26-16  Department of and transmit to the Department all such credits, other

26-17  personal property or debts in his possession, under his control or

26-18  owing by him within the time and in the manner requested by the

26-19  Department. Except as otherwise provided in subsection 5, no

26-20  further notice is required to be served to that person.

26-21     5.  If the property of the delinquent taxpayer consists of a series

26-22  of payments owed to him, the person who owes or controls the

26-23  payments shall transmit the payments to the Department until

26-24  otherwise notified by the Department. If the debt of the delinquent

26-25  taxpayer is not paid within 1 year after the Department issued

26-26  the original demand to transmit, the Department shall issue

26-27  another demand to transmit to the person responsible for making

26-28  the payments informing him to continue to transmit payments to the

26-29  Department or that his duty to transmit the payments to the

26-30  Department has ceased.

26-31     6.  If the notice of the delinquency seeks to prevent the transfer

26-32  or other disposition of a deposit in a bank or credit union or other

26-33  credits or personal property in the possession or under the control of

26-34  a bank, credit union or other depository institution, the notice must

26-35  be delivered or mailed to any branch or office of the bank, credit

26-36  union or other depository institution at which the deposit is carried

26-37  or at which the credits or personal property is held.

26-38     7.  If any person notified by the notice of the delinquency

26-39  makes any transfer or other disposition of the property or debts

26-40  required to be withheld or transmitted, to the extent of the value of

26-41  the property or the amount of the debts thus transferred or paid, he is

26-42  liable to the State for any indebtedness due pursuant to this chapter,

26-43  chapter 362, 364A, 369, 370, 372, 372A, 374, 377, 377A or 444A of

26-44  NRS, NRS 482.313, or chapter 585 or 680B of NRS, or sections 2

26-45  to 35, inclusive, or 37 to 63, inclusive, of this act from the person

27-1  with respect to whose obligation the notice was given if solely by

27-2  reason of the transfer or other disposition the State is unable to

27-3  recover the indebtedness of the person with respect to whose

27-4  obligation the notice was given.

27-5      Sec. 74.  NRS 360A.020 is hereby amended to read as follows:

27-6      360A.020  The Department shall adopt [such] :

27-7      1.  Such regulations as are necessary to carry out the provisions

27-8  of this chapter.

27-9      2.  Regulations providing for:

27-10     (a) The electronic submission of returns to the Department;

27-11  and

27-12     (b) The payment to the Department of any amount required to

27-13  be paid pursuant to this chapter, chapter 365, 366 or 373 of NRS,

27-14  or NRS 590.120 or 590.840, through the use of credit cards, debit

27-15  cards and electronic transfers of money.

27-16     Sec. 75.  NRS 361.186 is hereby amended to read as follows:

27-17     361.186  1.  A taxpayer may collect an admission fee for the

27-18  exhibition of fine art otherwise exempt from taxation pursuant to

27-19  NRS 361.068 if the taxpayer offers to residents of the State of

27-20  Nevada a discount of 50 percent from any admission fee charged to

27-21  nonresidents. The discounted admission fee for residents must be

27-22  offered at any time the exhibition is open to the public and

27-23  admission fees are being charged.

27-24     2.  Except as otherwise provided in subsection 5, if a taxpayer

27-25  collects a fee for the exhibition of fine art otherwise exempt from

27-26  taxation pursuant to NRS 361.068, the exemption pertaining to that

27-27  fine art for the fiscal year must be reduced by the net revenue

27-28  derived by the taxpayer for that fiscal year. The exemption

27-29  pertaining to fine art for a particular fiscal year must not be reduced

27-30  below zero, regardless of the amount of the net revenue derived by

27-31  the taxpayer for that fiscal year.

27-32     3.  A tax resulting from the operation of this section is due with

27-33  the tax otherwise due under the taxpayer’s first statement filed

27-34  pursuant to NRS 361.265 after the 15th day of the fourth month

27-35  after the end of the fiscal year in which the net revenue was received

27-36  or, if no such statement is required to be filed, under a statement of

27-37  the net revenue filed on or before the last day of the fourth month

27-38  after the end of that fiscal year.

27-39     4.  A taxpayer who is required to pay a tax resulting from the

27-40  operation of this section may receive a credit against the tax for any

27-41  donations made by the taxpayer to the State Arts Council, the

27-42  Division of Museums and History Dedicated Trust Fund established

27-43  pursuant to NRS 381.0031, a museum that provides exhibits

27-44  specifically related to nature or a museum that provides exhibits

27-45  specifically related to children, if the taxpayer:

28-1      (a) Made the donation before the date that either statement

28-2  required pursuant to subsection 3 is due; and

28-3      (b) Provides to the county assessor documentation of the

28-4  donation at the time that he files the statement required pursuant to

28-5  subsection 3.

28-6      5.  If a taxpayer qualifies for and avails himself of both of the

28-7  exemptions from taxation provided by NRS 361.068 and 374.291,

28-8  the reduction of the exemptions by the net revenue derived by the

28-9  taxpayer, as required pursuant to subsection 2 of this section and

28-10  subsection 2 of NRS 374.2911, must be carried out in such a manner

28-11  that the total net revenue derived by the taxpayer is first applied to

28-12  reduce the exemption provided pursuant to NRS 374.291. If the net

28-13  revenue exceeds the amount of the exemption provided pursuant to

28-14  NRS 374.291, the remaining net revenue must be applied to reduce

28-15  the exemption provided pursuant to NRS 361.068. If the net revenue

28-16  is less than or equal to the exemption provided pursuant to NRS

28-17  374.291 for that fiscal year, the exemption provided pursuant to

28-18  NRS 361.068 must not be reduced.

28-19     6.  For the purposes of this section:

28-20     (a) “Direct costs of owning and exhibiting the fine art” does not

28-21  include any allocation of the general and administrative expense of a

28-22  business or organization that conducts activities in addition to the

28-23  operation of the facility in which the fine art is displayed, including,

28-24  without limitation, an allocation of the salary and benefits of a

28-25  senior executive who is responsible for the oversight of the facility

28-26  in which the fine art is displayed and who has substantial

28-27  responsibilities related to the other activities of the business or

28-28  organization.

28-29     (b) “Net revenue” means the amount of the fees collected for

28-30  exhibiting the fine art during that fiscal year less the following paid

28-31  or made during that fiscal year:

28-32         (1) Any taxes on those fees imposed pursuant to section 46

28-33  of this act;

28-34         (2) The direct costs of owning and exhibiting the fine art; and

28-35         [(2)] (3) The cost of educational programs associated with

28-36  the taxpayer’s public display of fine art, including the cost of

28-37  meeting the requirements of sub-subparagraph (IV) of subparagraph

28-38  (1) of paragraph (b) of subsection [5] 4 of NRS 361.068.

28-39     Sec. 76.  NRS 361.453 is hereby amended to read as follows:

28-40     361.453  1.  Except as otherwise provided in this section and

28-41  NRS 354.705, 354.723 and 450.760, the total ad valorem tax levy

28-42  for all public purposes must not exceed [$3.64] $3.14 on each $100

28-43  of assessed valuation, or a lesser or greater amount fixed by the

28-44  State Board of Examiners if the State Board of Examiners is

28-45  directed by law to fix a lesser or greater amount for that fiscal year.

29-1      2.  Any levy imposed by the Legislature for the repayment of

29-2  bonded indebtedness or the operating expenses of the State of

29-3  Nevada and any levy imposed by the board of county

29-4  commissioners pursuant to NRS 387.195 [that is in excess of 50

29-5  cents on each $100 of assessed valuation of taxable property within

29-6  the county] must not be included in calculating the limitation set

29-7  forth in subsection 1 on the total ad valorem tax levied within the

29-8  boundaries of the county, city or unincorporated town . [, if, in a

29-9  county whose population is 40,000 or less, or in a city or

29-10  unincorporated town located within that county:

29-11     (a) The combined tax rate certified by the Nevada Tax

29-12  Commission was at least $3.50 on each $100 of assessed valuation

29-13  on June 25, 1998;

29-14     (b) The governing body of that county, city or unincorporated

29-15  town proposes to its registered voters an additional levy ad valorem

29-16  above the total ad valorem tax levy for all public purposes set forth

29-17  in subsection 1;

29-18     (c) The proposal specifies the amount of money to be derived,

29-19  the purpose for which it is to be expended and the duration of the

29-20  levy; and

29-21     (d) The proposal is approved by a majority of the voters voting

29-22  on the question at a general election or a special election called for

29-23  that purpose.

29-24     3.  The duration of the additional levy ad valorem levied

29-25  pursuant to subsection 2 must not exceed 5 years. The governing

29-26  body of the county, city or unincorporated town may discontinue the

29-27  levy before it expires and may not thereafter reimpose it in whole or

29-28  in part without following the procedure required for its original

29-29  imposition set forth in subsection 2.

29-30     4.  A special election may be held pursuant to subsection 2 only

29-31  if the governing body of the county, city or unincorporated town

29-32  determines, by a unanimous vote, that an emergency exists. The

29-33  determination made by the governing body is conclusive unless it is

29-34  shown that the governing body acted with fraud or a gross abuse of

29-35  discretion. An action to challenge the determination made by the

29-36  governing body must be commenced within 15 days after the

29-37  governing body’s determination is final. As used in this subsection,

29-38  “emergency” means any unexpected occurrence or combination of

29-39  occurrences which requires immediate action by the governing body

29-40  of the county, city or unincorporated town to prevent or mitigate a

29-41  substantial financial loss to the county, city or unincorporated town

29-42  or to enable the governing body to provide an essential service to

29-43  the residents of the county, city or unincorporated town.]

 

 

30-1      Sec. 77.  NRS 361.4545 is hereby amended to read as follows:

30-2      361.4545  1.  On or before May 5 of each year or within 5

30-3  days after receiving the projections of revenue from the Department,

30-4  whichever is later, the ex officio tax receivers shall prepare and

30-5  cause to be published in a newspaper of general circulation in their

30-6  respective counties, a notice which contains at least the following

30-7  information:

30-8      (a) A statement that the notice is not a bill for taxes owed but an

30-9  informational notice. The notice must state:

30-10         (1) That public hearings will be held on the dates listed in the

30-11  notice to adopt budgets and tax rates for the fiscal year beginning on

30-12  July 1;

30-13         (2) That the purpose of the public hearings is to receive

30-14  opinions from members of the public on the proposed budgets and

30-15  tax rates before final action is taken thereon; and

30-16         (3) The tax rate to be imposed by the county and each

30-17  political subdivision within the county for the ensuing fiscal year if

30-18  the tentative budgets which affect the property in those areas

30-19  become final budgets.

30-20     (b) A brief description of the limitation imposed by the

30-21  Legislature on the revenue of the local governments.

30-22     (c) The dates, times and locations of all of the public hearings

30-23  on the tentative budgets which affect the taxes on property.

30-24     (d) The names and addresses of the county assessor and ex

30-25  officio tax receiver who may be consulted for further information.

30-26     (e) A brief statement of how property is assessed and how the

30-27  combined tax rate is determined.

30-28  The notice must be displayed in the format used for news and must

30-29  be printed on at least one-half of a page of the newspaper.

30-30     2.  Each ex officio tax receiver shall prepare and cause to be

30-31  published in a newspaper of general circulation within the county:

30-32     (a) A notice, displayed in the format used for news and printed

30-33  in not less than 8-point type, disclosing any increase in the property

30-34  taxes as a result of any change in the tentative budget.

30-35     (b) A notice, displayed in the format used for advertisements

30-36  and printed in not less than 8-point type on at least one-quarter of a

30-37  page of the newspaper, disclosing any amount in cents on each $100

30-38  of assessed valuation by which the highest combined tax rate for

30-39  property in the county exceeds [$3.64] $3.14 on each $100 of

30-40  assessed valuation.

30-41  These notices must be published within 10 days after the receipt of

30-42  the information pursuant to NRS 354.596.

30-43     Sec. 78.  NRS 364A.040 is hereby amended to read as follows:

30-44     364A.040  1.  “Employee” includes:

31-1      (a) A natural person who receives wages or other remuneration

31-2  from a business for personal services, including commissions and

31-3  bonuses and remuneration payable in a medium other than cash; and

31-4      (b) A natural person engaged in the operation of a business.

31-5      2.  The term includes:

31-6      (a) [A] Each partner or other co-owner of a business; and

31-7      (b) Except as otherwise provided in subsection 3, a natural

31-8  person reported as an employee to the:

31-9          (1) Employment Security Division of the Department of

31-10  Employment, Training and Rehabilitation;

31-11         (2) Administrator of the Division of Industrial Relations of

31-12  the Department of Business and Industry; or

31-13         (3) Internal Revenue Service on an Employer’s Quarterly

31-14  Federal Tax Return (Form 941), Employer’s Monthly Federal Tax

31-15  Return (Form 941-M), Employer’s Annual Tax Return for

31-16  Agricultural Employees (Form 943) , or any equivalent or successor

31-17  form.

31-18     3.  The term does not include:

31-19     (a) A business, including an independent contractor, that

31-20  performs services on behalf of another business.

31-21     (b) A natural person who is retired or otherwise receiving

31-22  remuneration solely because of past service to the business.

31-23     (c) A newspaper carrier or the immediate supervisor of a

31-24  newspaper carrier who is an independent contractor of the

31-25  newspaper and receives compensation solely from persons who

31-26  purchase the newspaper.

31-27     (d) A natural person who performs all of his duties for the

31-28  business outside of this state.

31-29     4.  An independent contractor is not an employee of a business

31-30  with whom he contracts.

31-31     Sec. 79.  NRS 364A.130 is hereby amended to read as follows:

31-32     364A.130  1.  Except as otherwise provided in subsection 6,

31-33  a person shall not conduct a business in this state unless he has a

31-34  business license issued by the Department.

31-35     2.  [The] An application for the issuance or renewal of a

31-36  business license must:

31-37     (a) Be made upon a form prescribed by the Department;

31-38     (b) Set forth the name under which the applicant transacts or

31-39  intends to transact business and the location of his place or places of

31-40  business;

31-41     (c) Declare the estimated number of employees for the previous

31-42  calendar quarter;

31-43     (d) Be accompanied by a fee of $25; and

31-44     (e) Include any other information that the Department deems

31-45  necessary.

32-1      3.  The application must be signed by:

32-2      (a) The owner, if the business is owned by a natural person;

32-3      (b) A member or partner, if the business is owned by an

32-4  association or partnership; or

32-5      (c) An officer or some other person specifically authorized to

32-6  sign the application, if the business is owned by a corporation.

32-7      4.  If the application is signed pursuant to paragraph (c) of

32-8  subsection 3, written evidence of the signer’s authority must be

32-9  attached to the application.

32-10     5.  For the purposes of this chapter, a person shall be deemed to

32-11  conduct a business in this state if a business for which the person is

32-12  responsible:

32-13     (a) Is [incorporated] formed pursuant to [chapter 78 or 78A] title

32-14  7 of NRS;

32-15     (b) Has an office or other base of operations in this state; or

32-16     (c) Pays wages or other remuneration to a natural person who

32-17  performs in this state any of the duties for which he is paid.

32-18     6.  A person who takes part in a trade show or convention held

32-19  in this state for a purpose related to the conduct of a business is not

32-20  required to obtain a business license specifically for that event.

32-21     Sec. 80.  NRS 364A.130 is hereby amended to read as follows:

32-22     364A.130  1.  Except as otherwise provided in subsection 6, a

32-23  person shall not conduct a business in this state unless he has a

32-24  business license issued by the Department.

32-25     2.  An application for [the issuance or renewal of] a business

32-26  license must:

32-27     (a) Be made upon a form prescribed by the Department;

32-28     (b) Set forth the name under which the applicant transacts or

32-29  intends to transact business and the location of his place or places of

32-30  business;

32-31     (c) Declare the estimated number of employees for the previous

32-32  calendar quarter;

32-33     (d) Be accompanied by a fee of $25; and

32-34     (e) Include any other information that the Department deems

32-35  necessary.

32-36     3.  The application must be signed by:

32-37     (a) The owner, if the business is owned by a natural person;

32-38     (b) A member or partner, if the business is owned by an

32-39  association or partnership; or

32-40     (c) An officer or some other person specifically authorized to

32-41  sign the application, if the business is owned by a corporation.

32-42     4.  If the application is signed pursuant to paragraph (c) of

32-43  subsection 3, written evidence of the signer’s authority must be

32-44  attached to the application.

33-1      5.  For the purposes of this chapter, a person shall be deemed to

33-2  conduct a business in this state if a business for which the person is

33-3  responsible:

33-4      (a) Is formed pursuant to title 7 of NRS;

33-5      (b) Has an office or other base of operations in this state; or

33-6      (c) Pays wages or other remuneration to a natural person who

33-7  performs in this state any of the duties for which he is paid.

33-8      6.  A person who takes part in a trade show or convention held

33-9  in this state for a purpose related to the conduct of a business is not

33-10  required to obtain a business license specifically for that event.

33-11     Sec. 81.  NRS 364A.140 is hereby amended to read as follows:

33-12     364A.140  1.  A tax is hereby imposed upon the privilege of

33-13  conducting business in this state. Except as otherwise provided in

33-14  this section, the tax for each calendar quarter is due on the last day

33-15  of the quarter and must be paid on or before the last day of the

33-16  month immediately following the quarter on the basis of the total

33-17  number of equivalent full-time employees employed by the business

33-18  in the quarter.

33-19     2.  If the tax required to be paid by a business for a calendar

33-20  quarter pursuant to subsection 1 is less than $25, the business may

33-21  submit a written request to the Department to pay the tax annually

33-22  for each calendar quarter of a fiscal year ending June 30. Upon

33-23  approval of the request, the tax becomes due on the last day of the

33-24  fiscal year and must be paid on or before the last day of July

33-25  immediately following the fiscal year. If a business ceases operation

33-26  before the end of the fiscal year, the tax becomes due on the date on

33-27  which the business ceases its operation and must be paid on or

33-28  before the last day of the month immediately following the calendar

33-29  quarter in which the business ceases its operation. A business may

33-30  continue to pay the tax annually until the Department withdraws its

33-31  approval for the annual payment. The Department may withdraw its

33-32  approval at any time if it determines that the tax due for any

33-33  calendar quarter is at least $25.

33-34     3.  The total number of equivalent full-time employees

33-35  employed by a business in a quarter must be calculated pursuant to

33-36  NRS 364A.150.

33-37     4.  Except as otherwise provided in NRS 364A.152 and

33-38  364A.170, the amount of tax due for a business for each calendar

33-39  quarter is [$25] $35 for each equivalent full-time employee

33-40  employed by the business in the quarter.

33-41     5.  Each business shall file a return on a form prescribed by the

33-42  Department with each remittance of the tax. If the payment due is

33-43  greater than $1,000, the payment must be made by direct deposit at

33-44  a bank or credit union in which the State has an account, unless the

34-1  Department waives this requirement pursuant to regulations adopted

34-2  by the Commission. The return must include:

34-3      (a) If the tax is paid quarterly, a statement of the number of

34-4  equivalent full-time employees employed by the business in the

34-5  preceding quarter and any other information the Department

34-6  determines is necessary.

34-7      (b) If the tax is paid annually, a statement of the number of

34-8  equivalent full-time employees employed by the business for each

34-9  calendar quarter of the preceding fiscal year and any other

34-10  information the Department determines is necessary.

34-11     6.  The Commission shall adopt regulations concerning the

34-12  payment of the tax imposed pursuant to this section by direct

34-13  deposit.

34-14     Sec. 82.  NRS 364A.150 is hereby amended to read as follows:

34-15     364A.150  1.  The total number of equivalent full-time

34-16  employees employed by a business in a quarter must be calculated

34-17  by dividing the total number of hours all employees have worked

34-18  during the quarter by 468.

34-19     2.  To determine the total number of hours all employees have

34-20  worked during the quarter, the business must add the total number

34-21  of hours worked by full-time employees based in this state during

34-22  the quarter to the total number of hours worked by part-time

34-23  employees based in this state during the quarter and to the total

34-24  number of hours worked in this state by employees described in

34-25  subsection 6. A “full-time employee” is a person who is employed

34-26  to work at least 36 hours per week. All other employees are part-

34-27  time employees. An occasional reduction in the number of hours

34-28  actually worked in any week by a particular employee, as the result

34-29  of sickness, vacation or other compensated absence, does not affect

34-30  his status for the purposes of this section if his regular hours of work

34-31  are 36 or more per week. All hours for which a part-time employee

34-32  is paid must be included.

34-33     3.  Except as otherwise provided in subsection 7, the total

34-34  number of hours worked by full-time employees of a business

34-35  during the quarter may be calculated by:

34-36     (a) Determining from the records of the business the number of

34-37  hours each full-time employee has worked during the quarter up to a

34-38  maximum of 468 hours per quarter and totaling the results; or

34-39     (b) Multiplying 7.2 hours by the number of days each full-time

34-40  employee was employed by the business up to a maximum of 65

34-41  days per quarter and totaling the results.

34-42     4.  Except as otherwise provided in subsection 7, the total

34-43  number of hours worked by part-time employees of a business

34-44  during the quarter must be calculated by determining from the

35-1  records of the business the number of hours each part-time

35-2  employee has worked during the quarter and totaling the results.

35-3      5.  The total number of hours all employees have worked

35-4  during the quarter must be calculated [excluding] , including the

35-5  hours worked by a sole proprietor or one natural person in any

35-6  unincorporated business . [, who shall be deemed the owner of the

35-7  business rather than an employee.]

35-8      6.  To determine the total number of hours all employees have

35-9  worked during the quarter, in the case of a business which employs

35-10  a natural person at a base or business location outside Nevada, but

35-11  directs that person to perform at least some of his duties in Nevada,

35-12  the calculation must include the total number of hours actually

35-13  worked by that person in Nevada during the quarter. To calculate

35-14  the number of hours worked in Nevada, the formula in paragraph (b)

35-15  of subsection 3 must be used for full-time employees, and the

35-16  formula in subsection 4 must be used for part-time employees.

35-17     7.  Except as otherwise provided in subsection 8, if a business

35-18  employs in a calendar quarter a person whose monthly income for

35-19  that calendar quarter is 150 percent or less of the federally

35-20  designated level signifying poverty, the business may exclude the

35-21  total number of hours which the employee worked during that

35-22  calendar quarter in calculating the total number of hours worked by

35-23  employees of the business during the quarter if the business

35-24  provided to the employee for the whole calendar quarter:

35-25     (a) Free child care for the children of the employee at an on-site

35-26  child care facility; or

35-27     (b) One or more vouchers for use by the employee to pay the

35-28  total cost of child care for the calendar quarter at a licensed child

35-29  care facility that is within a reasonable distance from the business.

35-30     8.  The number of hours excluded pursuant to subsection 7 must

35-31  not reduce the total tax liability of the business by more than 50

35-32  percent.

35-33     9.  As used in this section, the term “on-site child care facility”

35-34  has the meaning ascribed to it in NRS 432A.0275.

35-35     Sec. 83.  NRS 369.174 is hereby amended to read as follows:

35-36     369.174  Each month, the State Controller shall transfer to the

35-37  Tax on Liquor Program Account in the State General Fund, from the

35-38  tax on liquor containing more than 22 percent of alcohol by volume,

35-39  the portion of the tax which exceeds [$1.90] $3.72 per wine gallon.

35-40     Sec. 84.  NRS 369.330 is hereby amended to read as follows:

35-41     369.330  Except as otherwise provided in this chapter, an excise

35-42  tax is hereby levied and must be collected respecting all liquor and

35-43  upon the privilege of importing, possessing, storing or selling liquor,

35-44  according to the following rates and classifications:

36-1      1.  On liquor containing more than 22 percent of alcohol by

36-2  volume, [$2.05] $3.87 per wine gallon or proportionate part thereof.

36-3      2.  On liquor containing more than 14 percent up to and

36-4  including 22 percent of alcohol by volume, [75 cents] $1.42 per

36-5  wine gallon or proportionate part thereof.

36-6      3.  On liquor containing from one-half of 1 percent up to and

36-7  including 14 percent of alcohol by volume, [40] 76 cents per wine

36-8  gallon or proportionate part thereof.

36-9      4.  On all malt beverage liquor brewed or fermented and bottled

36-10  in or outside this state, [9] 17 cents per gallon.

36-11     Sec. 85.  NRS 370.165 is hereby amended to read as follows:

36-12     370.165  There is hereby levied a tax upon the purchase or

36-13  possession of cigarettes by a consumer in the State of Nevada at the

36-14  rate of [17.5] 35 mills per cigarette. The tax may be represented and

36-15  precollected by the affixing of a revenue stamp or other approved

36-16  evidence of payment to each package, packet or container in which

36-17  cigarettes are sold. The tax must be precollected by the wholesale or

36-18  retail dealer, and must be recovered from the consumer by adding

36-19  the amount of the tax to the selling price. Each person who sells

36-20  cigarettes at retail shall prominently display on his premises a notice

36-21  that the tax is included in the selling price and is payable under the

36-22  provisions of this chapter.

36-23     Sec. 86.  NRS 370.260 is hereby amended to read as follows:

36-24     370.260  1.  All taxes and license fees imposed by the

36-25  provisions of NRS 370.001 to 370.430, inclusive, less any refunds

36-26  granted as provided by law, must be paid to the Department in the

36-27  form of remittances payable to the Department.

36-28     2.  The Department shall:

36-29     (a) As compensation to the State for the costs of collecting the

36-30  taxes and license fees, transmit each month the sum the Legislature

36-31  specifies from the remittances made to it pursuant to subsection 1

36-32  during the preceding month to the State Treasurer for deposit to the

36-33  credit of the Department. The deposited money must be expended

36-34  by the Department in accordance with its work program.

36-35     (b) From the remittances made to it pursuant to subsection 1

36-36  during the preceding month, less the amount transmitted pursuant to

36-37  paragraph (a), transmit each month the portion of the tax which is

36-38  equivalent to [12.5] 30 mills per cigarette to the State Treasurer for

36-39  deposit to the credit of the Account for the Tax on Cigarettes in the

36-40  State General Fund.

36-41     (c) Transmit the balance of the payments each month to the

36-42  State Treasurer for deposit in the Local Government Tax

36-43  Distribution Account created by NRS 360.660.

36-44     (d) Report to the State Controller monthly the amount of

36-45  collections.

37-1      3.  The money deposited pursuant to paragraph (c) of

37-2  subsection 2 in the Local Government Tax Distribution Account is

37-3  hereby appropriated to Carson City andto each of the counties in

37-4  proportion to their respective populations and must be credited to

37-5  the respective accounts of Carson City and each county.

37-6      Sec. 87.  NRS 370.350 is hereby amended to read as follows:

37-7      370.350  1.  Except as otherwise provided in subsection 3, a

37-8  tax is hereby levied and imposed upon the use of cigarettes in this

37-9  state.

37-10     2.  The amount of the use tax is [17.5] 35 mills per cigarette.

37-11     3.  The use tax does not apply where:

37-12     (a) Nevada cigarette revenue stamps have been affixed to

37-13  cigarette packages as required by law.

37-14     (b) Tax exemption is provided for in this chapter.

37-15     Sec. 88.  NRS 372.370 is hereby amended to read as follows:

37-16     372.370  [The taxpayer shall] A taxpayer may, to reimburse

37-17  himself for the cost of collecting the tax, deduct and withhold from

37-18  the [taxes] amount of the tax otherwise due from him :

37-19     1.  If full payment is received by the Department within 7 days

37-20  after the end of the reporting period for which the payment is

37-21  made, 1.25 percent of [it to reimburse himself for the cost of

37-22  collecting the tax.] the amount otherwise due; and

37-23     2.  Except as otherwise provided in subsection 1, if full

37-24  payment is received by the Department on or before the last day of

37-25  the month immediately following the reporting period for which

37-26  the payment is made, 0.75 percent of the amount otherwise due.

37-27     Sec. 89.  NRS 374.2911 is hereby amended to read as follows:

37-28     374.2911  1.  A taxpayer may collect an admission fee for the

37-29  exhibition of fine art otherwise exempt from taxation on its sale,

37-30  storage, use or other consumption pursuant to NRS 374.291 if the

37-31  taxpayer offers to residents of the State of Nevada a discount of 50

37-32  percent from any admission fee charged to nonresidents. The

37-33  discounted admission fee for residents must be offered at any time

37-34  the exhibition is open to the public and admission fees are being

37-35  charged.

37-36     2.  If a taxpayer collects a fee for the exhibition of fine art

37-37  otherwise exempt from taxation on its sale, storage, use or other

37-38  consumption pursuant to NRS 374.291 and the fee is collected

37-39  during the first full fiscal year after the purchase of the fine art, the

37-40  exemption pertaining to that fine art must be reduced by the net

37-41  revenue derived by the taxpayer for that first full fiscal year. The

37-42  exemption pertaining to fine art must not be reduced below zero,

37-43  regardless of the amount of the net revenue derived by the taxpayer

37-44  for that first full fiscal year.

38-1      3.  Any tax due pursuant to this section must be paid with the

38-2  first sales and use tax return otherwise required to be filed by the

38-3  taxpayer following the 15th day of the fourth month after the end of

38-4  the first full fiscal year following the purchase of the fine art or, if

38-5  no sales and use tax return is otherwise required to be filed by the

38-6  taxpayer, with a sales and use tax return filed specifically for this

38-7  purpose on or before the last day of the fourth month after the end of

38-8  the first full fiscal year following the purchase of the fine art.

38-9      4.  A taxpayer who is required to pay a tax resulting from the

38-10  operation of this section may receive a credit against the tax for any

38-11  donations made by the taxpayer to the State Arts Council, the

38-12  Division of Museums and History Dedicated Trust Fund established

38-13  pursuant to NRS 381.0031, a museum that provides exhibits

38-14  specifically related to nature or a museum that provides exhibits

38-15  specifically related to children, if the taxpayer:

38-16     (a) Made the donation before the date that either return required

38-17  pursuant to subsection 3 is due; and

38-18     (b) Provides the Department documentation of the donation at

38-19  the time that he files the return required pursuant to subsection 3.

38-20     5.  For the purposes of this section:

38-21     (a) “Direct costs of owning and exhibiting the fine art” does not

38-22  include any allocation of the general and administrative expense of a

38-23  business or organization that conducts activities in addition to the

38-24  operation of the facility in which the fine art is displayed, including,

38-25  without limitation, an allocation of the salary and benefits of a

38-26  senior executive who is responsible for the oversight of the facility

38-27  in which the fine art is displayed and who has substantial

38-28  responsibilities related to the other activities of the business or

38-29  organization.

38-30     (b) “Net revenue” means the amount of the fees collected for

38-31  exhibiting the fine art during the fiscal year less the following paid

38-32  or made during the fiscal year:

38-33         (1) Any taxes on those fees imposed pursuant to section 46

38-34  of this act;

38-35         (2) The direct costs of owning and exhibiting the fine art; and

38-36         [(2)] (3) The cost of educational programs associated with

38-37  the taxpayer’s public display of fine art, including the cost of

38-38  meeting the requirements of subsubparagraph (IV) of subparagraph

38-39  (1) of paragraph (a) of subsection 4 of NRS 374.291.

38-40     Sec. 90.  NRS 374.375 is hereby amended to read as follows:

38-41     374.375  [The taxpayer shall] A taxpayer may, to reimburse

38-42  himself for the cost of collecting the tax, deduct and withhold from

38-43  the [taxes] amount of the tax otherwise due from him :

38-44     1.  If full payment is received by the Department within 7 days

38-45  after the end of the reporting period for which the payment is

39-1  made, 1.25 percent [thereof to reimburse himself for the cost of

39-2  collecting the tax.] of the amount otherwise due; and

39-3      2.  Except as otherwise provided in subsection 1, if full

39-4  payment is received by the Department on or before the last day of

39-5  the month immediately following the reporting period for which

39-6  the payment is made, 0.75 percent of the amount otherwise due.

39-7      Sec. 91.  NRS 14.030 is hereby amended to read as follows:

39-8      14.030  1.  If any artificial person described in NRS 14.020

39-9  fails to appoint a resident agent, or fails to file a certificate of

39-10  acceptance of appointment for 30 days after a vacancy occurs in the

39-11  agency, on the production of a certificate of the Secretary of State

39-12  showing either fact, which is conclusive evidence of the fact so

39-13  certified to be made a part of the return of service, the artificial

39-14  person may be served with any and all legal process, or a demand or

39-15  notice described in NRS 14.020, by delivering a copy to the

39-16  Secretary of State[,] or, in his absence, to any deputy secretary of

39-17  state, and such service is valid to all intents and purposes. The copy

39-18  must:

39-19     (a) Include a specific citation to the provisions of this section.

39-20  The Secretary of State may refuse to accept such service if the

39-21  proper citation is not included.

39-22     (b) Be accompanied by a fee of [$10.] $15.

39-23  The Secretary of State shall keep a copy of the legal process

39-24  received pursuant to this section in his office for at least 1 year after

39-25  receipt thereof and shall make those records available for public

39-26  inspection during normal business hours.

39-27     2.  In all cases of such service, the defendant has 40 days,

39-28  exclusive of the day of service, within which to answer or plead.

39-29     3.  Before such service is authorized, the plaintiff shall make or

39-30  cause to be made and filed an affidavit setting forth the facts,

39-31  showing that due diligence has been used to ascertain the

39-32  whereabouts of the officers of the artificial person to be served, and

39-33  the facts showing that direct or personal service on, or notice to, the

39-34  artificial person cannot be had.

39-35     4.  If it appears from the affidavit that there is a last known

39-36  address of the artificial person or any known officers thereof, the

39-37  plaintiff shall, in addition to and after such service on the Secretary

39-38  of State, mail or cause to be mailed to the artificial person or to the

39-39  known officer, at such address, by registered or certified mail, a

39-40  copy of the summons and a copy of the complaint, and in all such

39-41  cases the defendant has 40 days after the date of the mailing within

39-42  which to appear in the action.

39-43     5.  This section provides an additional manner of serving

39-44  process[,] and does not affect the validity of any other valid service.

 

40-1      Sec. 92.  NRS 78.0295 is hereby amended to read as follows:

40-2      78.0295  1.  A corporation may correct a document filed by

40-3  the Secretary of State with respect to the corporation if the

40-4  document contains an inaccurate record of a corporate action

40-5  described in the document or was defectively executed, attested,

40-6  sealed, verified or acknowledged.

40-7      2.  To correct a document, the corporation shall:

40-8      (a) Prepare a certificate of correction which:

40-9          (1) States the name of the corporation;

40-10         (2) Describes the document, including, without limitation, its

40-11  filing date;

40-12         (3) Specifies the inaccuracy or defect;

40-13         (4) Sets forth the inaccurate or defective portion of the

40-14  document in an accurate or corrected form; and

40-15         (5) Is signed by an officer of the corporation.

40-16     (b) Deliver the certificate to the Secretary of State for filing.

40-17     (c) Pay a filing fee of [$150] $225 to the Secretary of State.

40-18     3.  A certificate of correction is effective on the effective date

40-19  of the document it corrects except as to persons relying on the

40-20  uncorrected document and adversely affected by the correction. As

40-21  to those persons, the certificate is effective when filed.

40-22     Sec. 93.  NRS 78.150 is hereby amended to read as follows:

40-23     78.150  1.  A corporation organized pursuant to the laws of

40-24  this state shall, on or before the first day of the second month after

40-25  the filing of its articles of incorporation with the Secretary of State,

40-26  file with the Secretary of State a list, on a form furnished by him,

40-27  containing:

40-28     (a) The name of the corporation;

40-29     (b) The file number of the corporation, if known;

40-30     (c) The names and titles of the president, secretary, treasurer and

40-31  of all the directors of the corporation;

40-32     (d) The mailing or street address, either residence or business, of

40-33  each officer and director listed, following the name of the officer or

40-34  director;

40-35     (e) The name and street address of the resident agent of the

40-36  corporation; and

40-37     (f) The signature of an officer of the corporation certifying that

40-38  the list is true, complete and accurate.

40-39     2.  The corporation shall annually thereafter, on or before the

40-40  last day of the month in which the anniversary date of incorporation

40-41  occurs in each year, file with the Secretary of State, on a form

40-42  furnished by him, an annual list containing all of the information

40-43  required in subsection 1.

41-1      3.  Each list required by subsection 1 or 2 must be accompanied

41-2  by a declaration under penalty of perjury that the corporation has

41-3  complied with the provisions of chapter 364A of NRS.

41-4      4.  Upon filing the list required by:

41-5      (a) Subsection 1, the corporation shall pay to the Secretary of

41-6  State a fee of [$165.] $250.

41-7      (b) Subsection 2, the corporation shall pay to the Secretary of

41-8  State a fee of [$85.] $130.

41-9      5.  The Secretary of State shall, 60 days before the last day for

41-10  filing each annual list required by subsection 2, cause to be mailed

41-11  to each corporation which is required to comply with the provisions

41-12  of NRS 78.150 to 78.185, inclusive, and which has not become

41-13  delinquent, a notice of the fee due pursuant to subsection 4 and a

41-14  reminder to file the annual list required by subsection 2. Failure of

41-15  any corporation to receive a notice or form does not excuse it from

41-16  the penalty imposed by law.

41-17     6.  If the list to be filed pursuant to the provisions of subsection

41-18  1 or 2 is defective in any respect or the fee required by subsection 4

41-19  or 8 is not paid, the Secretary of State may return the list for

41-20  correction or payment.

41-21     7.  An annual list for a corporation not in default which is

41-22  received by the Secretary of State more than 60 days before its due

41-23  date shall be deemed an amended list for the previous year and must

41-24  be accompanied by a fee of [$85] $130 for filing. A payment

41-25  submitted pursuant to this subsection does not satisfy the

41-26  requirements of subsection 2 for the year to which the due date is

41-27  applicable.

41-28     8.  If the corporation is an association as defined in NRS

41-29  116.110315, the Secretary of State shall not accept the filing

41-30  required by this section unless it is accompanied by evidence of the

41-31  payment of the fee required to be paid pursuant to NRS 116.31155

41-32  that is provided to the association pursuant to subsection 4 of that

41-33  section.

41-34     Sec. 94.  NRS 78.170 is hereby amended to read as follows:

41-35     78.170  1.  Each corporation required to make a filing and pay

41-36  the fee prescribed in NRS 78.150 to 78.185, inclusive, which refuses

41-37  or neglects to do so within the time provided shall be deemed in

41-38  default.

41-39     2.  For default there must be added to the amount of the fee a

41-40  penalty of [$50.] $75. The fee and penalty must be collected as

41-41  provided in this chapter.

41-42     Sec. 95.  NRS 78.180 is hereby amended to read as follows:

41-43     78.180  1.  Except as otherwise provided in subsections 3 and

41-44  4, the Secretary of State shall reinstate a corporation which has

41-45  forfeited its right to transact business pursuant to the provisions of

42-1  this chapter and restore to the corporation its right to carry on

42-2  business in this state, and to exercise its corporate privileges and

42-3  immunities, if it:

42-4      (a) Files with the Secretary of State the list required by

42-5  NRS 78.150; and

42-6      (b) Pays to the Secretary of State:

42-7          (1) The filing fee and penalty set forth in NRS 78.150 and

42-8  78.170 for each year or portion thereof during which it failed to file

42-9  each required annual list in a timely manner; and

42-10         (2) A fee of [$200] $300 for reinstatement.

42-11     2.  When the Secretary of State reinstates the corporation, he

42-12  shall:

42-13     (a) Immediately issue and deliver to the corporation a certificate

42-14  of reinstatement authorizing it to transact business as if the filing fee

42-15  or fees had been paid when due; and

42-16     (b) Upon demand, issue to the corporation one or more certified

42-17  copies of the certificate of reinstatement.

42-18     3.  The Secretary of State shall not order a reinstatement unless

42-19  all delinquent fees and penalties have been paid, and the revocation

42-20  of the charter occurred only by reason of failure to pay the fees and

42-21  penalties.

42-22     4.  If a corporate charter has been revoked pursuant to the

42-23  provisions of this chapter and has remained revoked for a period of

42-24  5 consecutive years, the charter must not be reinstated.

42-25     Sec. 96.  NRS 78.390 is hereby amended to read as follows:

42-26     78.390  1.  Every amendment adopted pursuant to the

42-27  provisions of NRS 78.385 must be made in the following manner:

42-28     (a) The board of directors must adopt a resolution setting forth

42-29  the amendment proposed and declaring its advisability, and either

42-30  call a special meeting of the stockholders entitled to vote on the

42-31  amendment or direct that the proposed amendment be considered at

42-32  the next annual meeting of the stockholders entitled to vote on the

42-33  amendment.

42-34     (b) At the meeting, of which notice must be given to each

42-35  stockholder entitled to vote pursuant to the provisions of this

42-36  section, a vote of the stockholders entitled to vote in person or by

42-37  proxy must be taken for and against the proposed amendment. If it

42-38  appears upon the canvassing of the votes that stockholders holding

42-39  shares in the corporation entitling them to exercise at least a

42-40  majority of the voting power, or such greater proportion of the

42-41  voting power as may be required in the case of a vote by classes or

42-42  series, as provided in subsections 2 and 4, or as may be required by

42-43  the provisions of the articles of incorporation, have voted in favor of

42-44  the amendment, an officer of the corporation shall sign a certificate

42-45  setting forth the amendment, or setting forth the articles of

43-1  incorporation as amended, and the vote by which the amendment

43-2  was adopted.

43-3      (c) The certificate so signed must be filed with the Secretary of

43-4  State.

43-5      2.  If any proposed amendment would adversely alter or change

43-6  any preference or any relative or other right given to any class or

43-7  series of outstanding shares, then the amendment must be approved

43-8  by the vote, in addition to the affirmative vote otherwise required, of

43-9  the holders of shares representing a majority of the voting power of

43-10  each class or series adversely affected by the amendment regardless

43-11  of limitations or restrictions on the voting power thereof.

43-12     3.  Provision may be made in the articles of incorporation

43-13  requiring, in the case of any specified amendments, a larger

43-14  proportion of the voting power of stockholders than that required by

43-15  this section.

43-16     4.  Different series of the same class of shares do not constitute

43-17  different classes of shares for the purpose of voting by classes

43-18  except when the series is adversely affected by an amendment in a

43-19  different manner than other series of the same class.

43-20     5.  The resolution of the stockholders approving the proposed

43-21  amendment may provide that at any time before the effective date of

43-22  the amendment, notwithstanding approval of the proposed

43-23  amendment by the stockholders, the board of directors may, by

43-24  resolution, abandon the proposed amendment without further action

43-25  by the stockholders.

43-26     6.  A certificate filed pursuant to subsection 1 becomes

43-27  effective upon filing with the Secretary of State or upon a later date

43-28  specified in the certificate, which must not be later than 90 days

43-29  after the certificate is filed.

43-30     7.  If a certificate filed pursuant to subsection 1 specifies an

43-31  effective date and if the resolution of the stockholders approving the

43-32  proposed amendment provides that the board of directors may

43-33  abandon the proposed amendment pursuant to subsection 5, the

43-34  board of directors may terminate the effectiveness of the certificate

43-35  by resolution and by filing a certificate of termination with the

43-36  Secretary of State that:

43-37     (a) Is filed before the effective date specified in the certificate

43-38  filed pursuant to subsection 1;

43-39     (b) Identifies the certificate being terminated;

43-40     (c) States that, pursuant to the resolution of the stockholders, the

43-41  board of directors is authorized to terminate the effectiveness of

43-42  the certificate;

43-43     (d) States that the effectiveness of the certificate has been

43-44  terminated;

43-45     (e) Is signed by an officer of the corporation; and

44-1      (f) Is accompanied by a filing fee of [$150.] $225.

44-2      Sec. 97.  NRS 78.760 is hereby amended to read as follows:

44-3      78.760  1.  The fee for filing articles of incorporation is

44-4  prescribed in the following schedule:

 

44-5  If the amount represented by the total number of

44-6  shares provided for in the articles is:

44-7  $75,000 or less..................... [$175] $265

44-8  Over $75,000 and not over $200,000[225] 340

44-9  Over $200,000 and not over $500,000[325] 490

44-10  Over $500,000 and not over $1,000,000[425] 640

44-11  Over $1,000,000:

44-12  ........................... For the first $1,000,000.. [425] 640

44-13  For each additional $500,000 or fraction thereof  [225] 340

 

44-14     2.  The maximum fee which may be charged pursuant to this

44-15  section is [$25,000] $37,500 for:

44-16     (a) The original filing of articles of incorporation.

44-17     (b) A subsequent filing of any instrument which authorizes an

44-18  increase in stock.

44-19     3.  For the purposes of computing the filing fees according to

44-20  the schedule in subsection 1, the amount represented by the total

44-21  number of shares provided for in the articles of incorporation is:

44-22     (a) The aggregate par value of the shares, if only shares with a

44-23  par value are therein provided for;

44-24     (b) The product of the number of shares multiplied by $1,

44-25  regardless of any lesser amount prescribed as the value or

44-26  consideration for which shares may be issued and disposed of, if

44-27  only shares without par value are therein provided for; or

44-28     (c) The aggregate par value of the shares with a par value plus

44-29  the product of the number of shares without par value multiplied by

44-30  $1, regardless of any lesser amount prescribed as the value or

44-31  consideration for which the shares without par value may be issued

44-32  and disposed of, if shares with and without par value are therein

44-33  provided for.

44-34  For the purposes of this subsection, shares with no prescribed par

44-35  value shall be deemed shares without par value.

44-36     4.  The Secretary of State shall calculate filing fees pursuant to

44-37  this section with respect to shares with a par value of less than

44-38  one-tenth of a cent as if the par value were one-tenth of a cent.

44-39     Sec. 98.  NRS 78.765 is hereby amended to read as follows:

44-40     78.765  1.  The fee for filing a certificate changing the number

44-41  of authorized shares pursuant to NRS 78.209 or a certificate of

44-42  amendment to articles of incorporation that increases the

44-43  corporation’s authorized stock or a certificate of correction that

45-1  increases the corporation’s authorized stock is the difference

45-2  between the fee computed at the rates specified in NRS 78.760 upon

45-3  the total authorized stock of the corporation, including the proposed

45-4  increase, and the fee computed at the rates specified in NRS 78.760

45-5  upon the total authorized capital, excluding the proposed increase.

45-6  In no case may the amount be less than [$150.] $225.

45-7      2.  The fee for filing a certificate of amendment to articles of

45-8  incorporation that does not increase the corporation’s authorized

45-9  stock or a certificate of correction that does not increase the

45-10  corporation’s authorized stock is [$150.] $225.

45-11     3.  The fee for filing a certificate or an amended certificate

45-12  pursuant to NRS 78.1955 is [$150.] $225.

45-13     4.  The fee for filing a certificate of termination pursuant to

45-14  NRS 78.1955, 78.209 or 78.380 is [$150.] $225.

45-15     Sec. 99.  NRS 78.767 is hereby amended to read as follows:

45-16     78.767  1.  The fee for filing a certificate of restated articles of

45-17  incorporation that does not increase the corporation’s authorized

45-18  stock is [$150.] $225.

45-19     2.  The fee for filing a certificate of restated articles of

45-20  incorporation that increases the corporation’s authorized stock is the

45-21  difference between the fee computed pursuant to NRS 78.760 based

45-22  upon the total authorized stock of the corporation, including the

45-23  proposed increase, and the fee computed pursuant to NRS 78.760

45-24  based upon the total authorized stock of the corporation, excluding

45-25  the proposed increase. In no case may the amount be less than

45-26  [$150.] $225.

45-27     Sec. 100.  NRS 78.780 is hereby amended to read as follows:

45-28     78.780  1.  The fee for filing a certificate of extension of

45-29  corporate existence of any corporation is an amount equal to

45-30  one-fourth of the fee computed at the rates specified in NRS 78.760

45-31  for filing articles of incorporation.

45-32     2.  The fee for filing a certificate of dissolution whether it

45-33  occurs before or after the payment of capital and beginning of

45-34  business is [$60.] $90.

45-35     Sec. 101.  NRS 78.785 is hereby amended to read as follows:

45-36     78.785  1.  The fee for filing a certificate of change of location

45-37  of a corporation’s registered office and resident agent, or a new

45-38  designation of resident agent, is [$30.] $45.

45-39     2.  The fee for certifying articles of incorporation where a copy

45-40  is provided is [$20.] $30.

45-41     3.  The fee for certifying a copy of an amendment to articles of

45-42  incorporation, or to a copy of the articles as amended, where a copy

45-43  is furnished, is [$20.] $30.

46-1      4.  The fee for certifying an authorized printed copy of the

46-2  general corporation law as compiled by the Secretary of State is

46-3  [$20.] $30.

46-4      5.  The fee for reserving a corporate name is [$20.] $30.

46-5      6.  The fee for executing a certificate of corporate existence

46-6  which does not list the previous documents relating to the

46-7  corporation, or a certificate of change in a corporate name, is

46-8  [$40.] $60.

46-9      7.  The fee for executing a certificate of corporate existence

46-10  which lists the previous documents relating to the corporation is

46-11  [$40.] $60.

46-12     8.  The fee for executing, certifying or filing any certificate or

46-13  document not provided for in NRS 78.760 to 78.785, inclusive, is

46-14  [$40.] $60.

46-15     9.  The fee for copies made at the Office of the Secretary of

46-16  State is [$1] $1.50 per page.

46-17     10.  The fees for filing articles of incorporation, articles of

46-18  merger, or certificates of amendment increasing the basic surplus

46-19  of a mutual or reciprocal insurer must be computed pursuant to

46-20  NRS 78.760, 78.765 and 92A.210, on the basis of the amount of

46-21  basic surplus of the insurer.

46-22     11.  The fee for examining and provisionally approving any

46-23  document at any time before the document is presented for filing is

46-24  [$100.] $150.

46-25     Sec. 102.  NRS 78.795 is hereby amended to read as follows:

46-26     78.795  1.  Any natural person or corporation residing or

46-27  located in this state may, on or after January 1 of any year but before

46-28  January 31 of that year, register his willingness to serve as the

46-29  resident agent of a domestic or foreign corporation, limited-liability

46-30  company or limited partnership with the Secretary of State. The

46-31  registration must be accompanied by a fee of [$250] $375 per office

46-32  location of the resident agent.

46-33     2.  The Secretary of State shall maintain a list of those persons

46-34  who are registered pursuant to subsection 1 and make the list

46-35  available to persons seeking to do business in this state.

46-36     Sec. 103.  NRS 80.050 is hereby amended to read as follows:

46-37     80.050  1.  Except as otherwise provided in subsection 3,

46-38  foreign corporations shall pay the same fees to the Secretary of State

46-39  as are required to be paid by corporations organized pursuant to the

46-40  laws of this state, but the amount of fees to be charged must not

46-41  exceed:

46-42     (a) The sum of [$25,000] $37,500 for filing documents for

46-43  initial qualification; or

46-44     (b) The sum of [$25,000] $37,500 for each subsequent filing of

46-45  a certificate increasing authorized capital stock.

47-1      2.  If the corporate documents required to be filed set forth only

47-2  the total number of shares of stock the corporation is authorized to

47-3  issue without reference to value, the authorized shares shall be

47-4  deemed to be without par value and the filing fee must be computed

47-5  pursuant to paragraph (b) of subsection 3 of NRS 78.760.

47-6      3.  Foreign corporations which are nonprofit corporations and

47-7  which do not have or issue shares of stock shall pay the same fees to

47-8  the Secretary of State as are required to be paid by nonprofit

47-9  corporations organized pursuant to the laws of this state.

47-10     4.  The fee for filing a notice of withdrawal from the State of

47-11  Nevada by a foreign corporation is [$60.] $90.

47-12     Sec. 104.  NRS 80.110 is hereby amended to read as follows:

47-13     80.110  1.  Each foreign corporation doing business in this

47-14  state shall, on or before the first day of the second month after the

47-15  filing of its certificate of corporate existence with the Secretary of

47-16  State, and annually thereafter on or before the last day of the month

47-17  in which the anniversary date of its qualification to do business in

47-18  this state occurs in each year, file with the Secretary of State a list,

47-19  on a form furnished by him, that contains:

47-20     (a) The names of its president, secretary and treasurer , or their

47-21  equivalent, and all of its directors;

47-22     (b) A designation of its resident agent in this state; and

47-23     (c) The signature of an officer of the corporation.

47-24  Each list filed pursuant to this subsection must be accompanied by a

47-25  declaration under penalty of perjury that the foreign corporation has

47-26  complied with the provisions of chapter 364A of NRS.

47-27     2.  Upon filing:

47-28     (a) The initial list required by subsection 1, the corporation shall

47-29  pay to the Secretary of State a fee of [$165.] $250.

47-30     (b) Each annual list required by subsection 1, the corporation

47-31  shall pay to the Secretary of State a fee of [$85.] $130.

47-32     3.  The Secretary of State shall, 60 days before the last day for

47-33  filing each annual list required by subsection 1, cause to be mailed

47-34  to each corporation required to comply with the provisions of NRS

47-35  80.110 to 80.170, inclusive, which has not become delinquent, the

47-36  blank forms to be completed and filed with him. Failure of any

47-37  corporation to receive the forms does not excuse it from the penalty

47-38  imposed by the provisions of NRS 80.110 to 80.170, inclusive.

47-39     4.  An annual list for a corporation not in default which is

47-40  received by the Secretary of State more than 60 days before its due

47-41  date shall be deemed an amended list for the previous year and does

47-42  not satisfy the requirements of subsection 1 for the year to which the

47-43  due date is applicable.

 

 

48-1      Sec. 105.  NRS 80.150 is hereby amended to read as follows:

48-2      80.150  1.  Any corporation required to make a filing and pay

48-3  the fee prescribed in NRS 80.110 to 80.170, inclusive, which refuses

48-4  or neglects to do so within the time provided[,] is in default.

48-5      2.  For default there must be added to the amount of the fee a

48-6  penalty of [$50,] $75, and unless the filing is made and the fee and

48-7  penalty are paid on or before the first day of the ninth month

48-8  following the month in which filing was required, the defaulting

48-9  corporation by reason of its default forfeits its right to transact any

48-10  business within this state. The fee and penalty must be collected as

48-11  provided in this chapter.

48-12     Sec. 106.  NRS 80.170 is hereby amended to read as follows:

48-13     80.170  1.  Except as otherwise provided in subsections 3 and

48-14  4, the Secretary of State shall reinstate a corporation which has

48-15  forfeited or which forfeits its right to transact business under the

48-16  provisions of this chapter and shall restore to the corporation its

48-17  right to transact business in this state, and to exercise its corporate

48-18  privileges and immunities , if it:

48-19     (a) Files with the Secretary of State a list as provided in NRS

48-20  80.110 and 80.140; and

48-21     (b) Pays to the Secretary of State:

48-22         (1) The filing fee and penalty set forth in NRS 80.110 and

48-23  80.150 for each year or portion thereof that its right to transact

48-24  business was forfeited; and

48-25         (2) A fee of [$200] $300 for reinstatement.

48-26     2.  If payment is made and the Secretary of State reinstates the

48-27  corporation to its former rights, he shall:

48-28     (a) Immediately issue and deliver to the corporation so

48-29  reinstated a certificate of reinstatement authorizing it to transact

48-30  business in the same manner as if the filing fee had been paid when

48-31  due; and

48-32     (b) Upon demand, issue to the corporation one or more certified

48-33  copies of the certificate of reinstatement.

48-34     3.  The Secretary of State shall not order a reinstatement unless

48-35  all delinquent fees and penalties have been paid, and the revocation

48-36  of the right to transact business occurred only by reason of failure to

48-37  pay the fees and penalties.

48-38     4.  If the right of a corporation to transact business in this state

48-39  has been forfeited pursuant to the provisions of NRS 80.160 and has

48-40  remained forfeited for a period of 5 consecutive years, the right is

48-41  not subject to reinstatement.

48-42     Sec. 107.  NRS 82.193 is hereby amended to read as follows:

48-43     82.193  1.  A corporation shall have a resident agent in the

48-44  manner provided in NRS 78.090, 78.095, 78.097 and 78.110. The

49-1  resident agent and the corporation shall comply with the provisions

49-2  of those sections.

49-3      2.  A corporation is subject to the provisions of NRS 78.150 to

49-4  78.185, inclusive, except that:

49-5      (a) The fee for filing a list is [$15;] $25;

49-6      (b) The penalty added for default is [$5;] $10; and

49-7      (c) The fee for reinstatement is [$25.] $40.

49-8      Sec. 108.  NRS 82.531 is hereby amended to read as follows:

49-9      82.531  1.  The fee for filing articles of incorporation,

49-10  amendments to or restatements of articles of incorporation,

49-11  certificates pursuant to NRS 82.061 and 82.063 , and documents for

49-12  dissolution is [$25] $40 for each document.

49-13     2.  Except as otherwise provided in NRS 82.193 and subsection

49-14  1, the fees for filing documents are those set forth in NRS 78.765 to

49-15  78.785, inclusive.

49-16     Sec. 109.  NRS 84.090 is hereby amended to read as follows:

49-17     84.090  1.  The fee for filing articles of incorporation,

49-18  amendments to or restatements of articles of incorporation,

49-19  certificates of reinstatement and documents for dissolution is [$25]

49-20  $40 for each document.

49-21     2.  Except as otherwise provided in this chapter, the fees set

49-22  forth in NRS 78.785 apply to this chapter.

49-23     Sec. 110.  NRS 84.130 is hereby amended to read as follows:

49-24     84.130  1.  Each corporation sole that is required to make the

49-25  filings and pay the fees prescribed in this chapter but refuses or

49-26  neglects to do so within the time provided is in default.

49-27     2.  For default[,] there must be added to the amount of the fee a

49-28  penalty of [$5.] $10. The fee and penalty must be collected as

49-29  provided in this chapter.

49-30     Sec. 111.  NRS 84.150 is hereby amended to read as follows:

49-31     84.150  1.  Except as otherwise provided in subsections 3 and

49-32  4, the Secretary of State shall reinstate any corporation sole which

49-33  has forfeited its right to transact business under the provisions of

49-34  this chapter and shall restore the right to carry on business in this

49-35  state , and to exercise its corporate privileges and immunities, if it:

49-36     (a) Files with the Secretary of State a certificate of acceptance of

49-37  appointment executed by the resident agent of the corporation; and

49-38     (b) Pays to the Secretary of State:

49-39         (1) The filing fees and penalties set forth in this chapter for

49-40  each year or portion thereof during which its charter has been

49-41  revoked; and

49-42         (2) A fee of [$25] $40 for reinstatement.

49-43     2.  When the Secretary of State reinstates the corporation to its

49-44  former rights, he shall:

50-1      (a) Immediately issue and deliver to the corporation a certificate

50-2  of reinstatement authorizing it to transact business, as if the fees had

50-3  been paid when due; and

50-4      (b) Upon demand, issue to the corporation a certified copy of the

50-5  certificate of reinstatement.

50-6      3.  The Secretary of State shall not order a reinstatement unless

50-7  all delinquent fees and penalties have been paid, and the revocation

50-8  of its charter occurred only by reason of its failure to pay the fees

50-9  and penalties.

50-10     4.  If a corporate charter has been revoked pursuant to the

50-11  provisions of this chapter and has remained revoked for 10

50-12  consecutive years, the charter must not be reinstated.

50-13     Sec. 112.  NRS 86.226 is hereby amended to read as follows:

50-14     86.226  1.  A signed certificate of amendment, or a certified

50-15  copy of a judicial decree of amendment, must be filed with the

50-16  Secretary of State. A person who executes a certificate as an agent,

50-17  officer or fiduciary of the limited-liability company need not exhibit

50-18  evidence of his authority as a prerequisite to filing. Unless the

50-19  Secretary of State finds that a certificate does not conform to law,

50-20  upon his receipt of all required filing fees he shall file the certificate.

50-21     2.  A certificate of amendment or judicial decree of amendment

50-22  is effective upon filing with the Secretary of State or upon a later

50-23  date specified in the certificate or judicial decree, which must not be

50-24  more than 90 days after the certificate or judicial decree is filed.

50-25     3.  If a certificate specifies an effective date and if the

50-26  resolution of the members approving the proposed amendment

50-27  provides that one or more managers or, if management is not vested

50-28  in a manager, one or more members may abandon the proposed

50-29  amendment, then those managers or members may terminate the

50-30  effectiveness of the certificate by filing a certificate of termination

50-31  with the Secretary of State that:

50-32     (a) Is filed before the effective date specified in the certificate or

50-33  judicial decree filed pursuant to subsection 1;

50-34     (b) Identifies the certificate being terminated;

50-35     (c) States that, pursuant to the resolution of the members, the

50-36  manager of the company or, if management is not vested in a

50-37  manager, a designated member is authorized to terminate the

50-38  effectiveness of the certificate;

50-39     (d) States that the effectiveness of the certificate has been

50-40  terminated;

50-41     (e) Is signed by a manager of the company or, if management is

50-42  not vested in a manager, a designated member; and

50-43     (f) Is accompanied by a filing fee of [$150.] $225.

 

 

51-1      Sec. 113.  NRS 86.263 is hereby amended to read as follows:

51-2      86.263  1.  A limited-liability company shall, on or before the

51-3  first day of the second month after the filing of its articles of

51-4  organization with the Secretary of State, file with the Secretary of

51-5  State, on a form furnished by him, a list that contains:

51-6      (a) The name of the limited-liability company;

51-7      (b) The file number of the limited-liability company, if known;

51-8      (c) The names and titles of all of its managers or, if there is no

51-9  manager, all of its managing members;

51-10     (d) The mailing or street address, either residence or business, of

51-11  each manager or managing member listed, following the name of

51-12  the manager or managing member;

51-13     (e) The name and street address of the resident agent of the

51-14  limited-liability company; and

51-15     (f) The signature of a manager or managing member of the

51-16  limited-liability company certifying that the list is true, complete

51-17  and accurate.

51-18     2.  The limited-liability company shall annually thereafter, on

51-19  or before the last day of the month in which the anniversary date of

51-20  its organization occurs, file with the Secretary of State, on a form

51-21  furnished by him, an amended list containing all of the information

51-22  required in subsection 1. If the limited-liability company has had no

51-23  changes in its managers or, if there is no manager, its managing

51-24  members[,] since its previous list was filed, no amended list need

51-25  be filed if a manager or managing member of the limited-liability

51-26  company certifies to the Secretary of State as a true and accurate

51-27  statement that no changes in the managers or managing members

51-28  have occurred.

51-29     3.  Each list required by subsection 1 and each list or

51-30  certification required by subsection 2 must be accompanied by a

51-31  declaration under penalty of perjury that the limited-liability

51-32  company has complied with the provisions of chapter 364A of NRS.

51-33     4.  Upon filing:

51-34     (a) The initial list required by subsection 1, the limited-liability

51-35  company shall pay to the Secretary of State a fee of [$165.] $250.

51-36     (b) Each annual list required by subsection 2 or certifying that

51-37  no changes have occurred, the limited-liability company shall pay to

51-38  the Secretary of State a fee of [$85.] $130.

51-39     5.  The Secretary of State shall, 60 days before the last day for

51-40  filing each list required by subsection 2, cause to be mailed to each

51-41  limited-liability company required to comply with the provisions of

51-42  this section, which has not become delinquent, a notice of the fee

51-43  due under subsection 4 and a reminder to file a list required by

51-44  subsection 2 or a certification of no change. Failure of any company

52-1  to receive a notice or form does not excuse it from the penalty

52-2  imposed by law.

52-3      6.  If the list to be filed pursuant to the provisions of subsection

52-4  1 or 2 is defective or the fee required by subsection 4 is not paid, the

52-5  Secretary of State may return the list for correction or payment.

52-6      7.  An annual list for a limited-liability company not in default

52-7  received by the Secretary of State more than 60 days before its due

52-8  date shall be deemed an amended list for the previous year.

52-9      Sec. 114.  NRS 86.272 is hereby amended to read as follows:

52-10     86.272  1.  Each limited-liability company required to make a

52-11  filing and pay the fee prescribed in NRS 86.263 which refuses or

52-12  neglects to do so within the time provided is in default.

52-13     2.  For default there must be added to the amount of the fee a

52-14  penalty of [$50.] $75. The fee and penalty must be collected as

52-15  provided in this chapter.

52-16     Sec. 115.  NRS 86.276 is hereby amended to read as follows:

52-17     86.276  1.  Except as otherwise provided in subsections 3 and

52-18  4, the Secretary of State shall reinstate any limited-liability company

52-19  which has forfeited its right to transact business pursuant to the

52-20  provisions of this chapter and shall restore to the company its right

52-21  to carry on business in this state, and to exercise its privileges and

52-22  immunities, if it:

52-23     (a) Files with the Secretary of State the list required by

52-24  NRS 86.263; and

52-25     (b) Pays to the Secretary of State:

52-26         (1) The filing fee and penalty set forth in NRS 86.263 and

52-27  86.272 for each year or portion thereof during which it failed to file

52-28  in a timely manner each required annual list; and

52-29         (2) A fee of [$200] $300 for reinstatement.

52-30     2.  When the Secretary of State reinstates the limited-liability

52-31  company, he shall:

52-32     (a) Immediately issue and deliver to the company a certificate of

52-33  reinstatement authorizing it to transact business as if the filing fee

52-34  had been paid when due; and

52-35     (b) Upon demand, issue to the company one or more certified

52-36  copies of the certificate of reinstatement.

52-37     3.  The Secretary of State shall not order a reinstatement unless

52-38  all delinquent fees and penalties have been paid, and the revocation

52-39  of the charter occurred only by reason of failure to pay the fees and

52-40  penalties.

52-41     4.  If a company’s charter has been revoked pursuant to the

52-42  provisions of this chapter and has remained revoked for a period of

52-43  5 consecutive years, the charter must not be reinstated.

 

 

53-1      Sec. 116.  NRS 86.561 is hereby amended to read as follows:

53-2      86.561  1.  The Secretary of State shall charge and collect for:

53-3      (a) Filing the original articles of organization, or for registration

53-4  of a foreign company, [$175;] $265;

53-5      (b) Amending or restating the articles of organization, amending

53-6  the registration of a foreign company or filing a certificate of

53-7  correction, [$150;] $225;

53-8      (c) Filing the articles of dissolution of a domestic or foreign

53-9  company, [$60;] $90;

53-10     (d) Filing a statement of change of address of a records or

53-11  registered office, or change of the resident agent, [$30;] $45;

53-12     (e) Certifying articles of organization or an amendment to the

53-13  articles, in both cases where a copy is provided, [$20;] $30;

53-14     (f) Certifying an authorized printed copy of this chapter,

53-15  [$20;] $30;

53-16     (g) Reserving a name for a limited-liability company,

53-17  [$20;] $30;

53-18     (h) Filing a certificate of cancellation, [$60;] $90;

53-19     (i) Executing, filing or certifying any other document, [$40;]

53-20  $60; and

53-21     (j) Copies made at the Office of the Secretary of State, [$1]

53-22  $1.50 per page.

53-23     2.  The Secretary of State shall charge and collect , at the time

53-24  of any service of process on him as agent for service of process of a

53-25  limited-liability company, [$10] $15 which may be recovered as

53-26  taxable costs by the party to the action causing the service to be

53-27  made if the party prevails in the action.

53-28     3.  Except as otherwise provided in this section, the fees set

53-29  forth in NRS 78.785 apply to this chapter.

53-30     Sec. 117.  NRS 86.568 is hereby amended to read as follows:

53-31     86.568  1.  A limited-liability company may correct a

53-32  document filed by the Secretary of State with respect to the

53-33  limited-liability company if the document contains an inaccurate

53-34  record of a company action described in the document or was

53-35  defectively executed, attested, sealed, verified or acknowledged.

53-36     2.  To correct a document, the limited-liability company must:

53-37     (a) Prepare a certificate of correction that:

53-38         (1) States the name of the limited-liability company;

53-39         (2) Describes the document, including, without limitation, its

53-40  filing date;

53-41         (3) Specifies the inaccuracy or defect;

53-42         (4) Sets forth the inaccurate or defective portion of the

53-43  document in an accurate or corrected form; and

54-1          (5) Is signed by a manager of the company[,] or , if

54-2  management is not vested in a manager, by a member of the

54-3  company.

54-4      (b) Deliver the certificate to the Secretary of State for filing.

54-5      (c) Pay a filing fee of [$150] $225 to the Secretary of State.

54-6      3.  A certificate of correction is effective on the effective date

54-7  of the document it corrects except as to persons relying on the

54-8  uncorrected document and adversely affected by the correction. As

54-9  to those persons, the certificate is effective when filed.

54-10     Sec. 118.  NRS 87.440 is hereby amended to read as follows:

54-11     87.440  1.  To become a registered limited-liability

54-12  partnership, a partnership shall file with the Secretary of State a

54-13  certificate of registration stating each of the following:

54-14     (a) The name of the partnership.

54-15     (b) The street address of its principal office.

54-16     (c) The name of the person designated as the partnership’s

54-17  resident agent, the street address of the resident agent where process

54-18  may be served upon the partnership and the mailing address of the

54-19  resident agent if it is different than his street address.

54-20     (d) The name and business address of each managing partner in

54-21  this state.

54-22     (e) A brief statement of the professional service rendered by the

54-23  partnership.

54-24     (f) That the partnership thereafter will be a registered limited-

54-25  liability partnership.

54-26     (g) Any other information that the partnership wishes to include.

54-27     2.  The certificate of registration must be executed by a majority

54-28  in interest of the partners or by one or more partners authorized to

54-29  execute such a certificate.

54-30     3.  The certificate of registration must be accompanied by a fee

54-31  of [$175.] $265.

54-32     4.  The Secretary of State shall register as a registered limited-

54-33  liability partnership any partnership that submits a completed

54-34  certificate of registration with the required fee.

54-35     5.  The registration of a registered limited-liability partnership

54-36  is effective at the time of the filing of the certificate of registration.

54-37     Sec. 119.  NRS 87.460 is hereby amended to read as follows:

54-38     87.460  1.  A certificate of registration of a registered limited-

54-39  liability partnership may be amended by filing with the Secretary of

54-40  State a certificate of amendment. The certificate of amendment must

54-41  set forth:

54-42     (a) The name of the registered limited-liability partnership;

54-43     (b) The dates on which the registered limited-liability

54-44  partnership filed its original certificate of registration and any other

54-45  certificates of amendment; and

55-1      (c) The change to the information contained in the original

55-2  certificate of registration or any other certificates of amendment.

55-3      2.  The certificate of amendment must be:

55-4      (a) Signed by a managing partner of the registered limited-

55-5  liability partnership; and

55-6      (b) Accompanied by a fee of [$150.] $225.

55-7      Sec. 120.  NRS 87.470 is hereby amended to read as follows:

55-8      87.470  The registration of a registered limited-liability

55-9  partnership is effective until:

55-10     1.  Its certificate of registration is revoked pursuant to

55-11  NRS 87.520; or

55-12     2.  The registered limited-liability partnership files with the

55-13  Secretary of State a written notice of withdrawal executed by a

55-14  managing partner. The notice must be accompanied by a fee of

55-15  [$60.] $90.

55-16     Sec. 121.  NRS 87.490 is hereby amended to read as follows:

55-17     87.490  1.  If a registered limited-liability partnership wishes

55-18  to change the location of its principal office in this state or its

55-19  resident agent, it shall first file with the Secretary of State a

55-20  certificate of change that sets forth:

55-21     (a) The name of the registered limited-liability partnership;

55-22     (b) The street address of its principal office;

55-23     (c) If the location of its principal office will be changed, the

55-24  street address of its new principal office;

55-25     (d) The name of its resident agent; and

55-26     (e) If its resident agent will be changed, the name of its new

55-27  resident agent.

55-28  The certificate of acceptance of its new resident agent must

55-29  accompany the certificate of change.

55-30     2.  A certificate of change filed pursuant to this section must be:

55-31     (a) Signed by a managing partner of the registered limited-

55-32  liability partnership; and

55-33     (b) Accompanied by a fee of [$30.] $45.

55-34     Sec. 122.  NRS 87.510 is hereby amended to read as follows:

55-35     87.510  1.  A registered limited-liability partnership shall, on

55-36  or before the first day of the second month after the filing of its

55-37  certificate of registration with the Secretary of State, and annually

55-38  thereafter on or before the last day of the month in which the

55-39  anniversary date of the filing of its certificate of registration with the

55-40  Secretary of State occurs, file with the Secretary of State, on a form

55-41  furnished by him, a list that contains:

55-42     (a) The name of the registered limited-liability partnership;

55-43     (b) The file number of the registered limited-liability

55-44  partnership, if known;

55-45     (c) The names of all of its managing partners;

56-1      (d) The mailing or street address, either residence or business, of

56-2  each managing partner;

56-3      (e) The name and street address of the resident agent of the

56-4  registered limited-liability partnership; and

56-5      (f) The signature of a managing partner of the registered

56-6  limited-liability partnership certifying that the list is true, complete

56-7  and accurate.

56-8  Each list filed pursuant to this subsection must be accompanied by a

56-9  declaration under penalty of perjury that the registered limited-

56-10  liability partnership has complied with the provisions of chapter

56-11  364A of NRS.

56-12     2.  Upon filing:

56-13     (a) The initial list required by subsection 1, the registered

56-14  limited-liability partnership shall pay to the Secretary of State a fee

56-15  of [$165.] $250.

56-16     (b) Each annual list required by subsection 1, the registered

56-17  limited-liability partnership shall pay to the Secretary of State a fee

56-18  of [$85.] $130.

56-19     3.  The Secretary of State shall, at least 60 days before the last

56-20  day for filing each annual list required by subsection 1, cause to be

56-21  mailed to the registered limited-liability partnership a notice of the

56-22  fee due pursuant to subsection 2 and a reminder to file the annual

56-23  list required by subsection 1. The failure of any registered limited-

56-24  liability partnership to receive a notice or form does not excuse it

56-25  from complying with the provisions of this section.

56-26     4.  If the list to be filed pursuant to the provisions of subsection

56-27  1 is defective, or the fee required by subsection 2 is not paid, the

56-28  Secretary of State may return the list for correction or payment.

56-29     5.  An annual list that is filed by a registered limited-liability

56-30  partnership which is not in default more than 60 days before it is due

56-31  shall be deemed an amended list for the previous year and does not

56-32  satisfy the requirements of subsection 1 for the year to which the

56-33  due date is applicable.

56-34     Sec. 123.  NRS 87.520 is hereby amended to read as follows:

56-35     87.520  1.  A registered limited-liability partnership that fails

56-36  to comply with the provisions of NRS 87.510 is in default.

56-37     2.  Any registered limited-liability partnership that is in default

56-38  pursuant to subsection 1 must, in addition to the fee required to be

56-39  paid pursuant to NRS 87.510, pay a penalty of [$50.] $75.

56-40     3.  On or before the 15th day of the third month after the month

56-41  in which the fee required to be paid pursuant to NRS 87.510 is due,

56-42  the Secretary of State shall notify, by certified mail, the resident

56-43  agent of any registered limited-liability partnership that is in default.

56-44  The notice must include the amount of any payment that is due from

56-45  the registered limited-liability partnership.

57-1      4.  If a registered limited-liability partnership fails to pay the

57-2  amount that is due, the certificate of registration of the registered

57-3  limited-liability partnership shall be deemed revoked on the first day

57-4  of the ninth month after the month in which the fee required to be

57-5  paid pursuant to NRS 87.510 was due. The Secretary of State shall

57-6  notify a registered limited-liability partnership, by certified mail[,]

57-7  addressed to its resident agent or, if the registered limited-liability

57-8  partnership does not have a resident agent, to a managing partner,

57-9  that its certificate of registration is revoked and the amount of any

57-10  fees and penalties that are due.

57-11     Sec. 124.  NRS 87.530 is hereby amended to read as follows:

57-12     87.530  1.  Except as otherwise provided in subsection 3, the

57-13  Secretary of State shall reinstate the certificate of registration of a

57-14  registered limited-liability partnership that is revoked pursuant to

57-15  NRS 87.520 if the registered limited-liability partnership:

57-16     (a) Files with the Secretary of State the information required by

57-17  NRS 87.510; and

57-18     (b) Pays to the Secretary of State:

57-19         (1) The fee required to be paid by that section;

57-20         (2) Any penalty required to be paid pursuant to NRS 87.520;

57-21  and

57-22         (3) A reinstatement fee of [$200.] $300.

57-23     2.  Upon reinstatement of a certificate of registration pursuant

57-24  to this section, the Secretary of State shall:

57-25     (a) Deliver to the registered limited-liability partnership a

57-26  certificate of reinstatement authorizing it to transact business

57-27  retroactively from the date the fee required by NRS 87.510 was due;

57-28  and

57-29     (b) Upon request, issue to the registered limited-liability

57-30  partnership one or more certified copies of the certificate of

57-31  reinstatement.

57-32     3.  The Secretary of State shall not reinstate the certificate of

57-33  registration of a registered limited-liability partnership if the

57-34  certificate was revoked pursuant to NRS 87.520 at least 5 years

57-35  before the date of the proposed reinstatement.

57-36     Sec. 125.  NRS 87.547 is hereby amended to read as follows:

57-37     87.547  1.  A limited-liability partnership may correct a

57-38  document filed by the Secretary of State with respect to the limited-

57-39  liability partnership if the document contains an inaccurate record of

57-40  a partnership action described in the document or was defectively

57-41  executed, attested, sealed, verified or acknowledged.

57-42     2.  To correct a document, the limited-liability partnership

57-43  must:

57-44     (a) Prepare a certificate of correction that:

57-45         (1) States the name of the limited-liability partnership;

58-1          (2) Describes the document, including, without limitation, its

58-2  filing date;

58-3          (3) Specifies the inaccuracy or defect;

58-4          (4) Sets forth the inaccurate or defective portion of the

58-5  document in an accurate or corrected form; and

58-6          (5) Is signed by a managing partner of the limited-liability

58-7  partnership.

58-8      (b) Deliver the certificate to the Secretary of State for filing.

58-9      (c) Pay a filing fee of [$150] $225 to the Secretary of State.

58-10     3.  A certificate of correction is effective on the effective date

58-11  of the document it corrects except as to persons relying on the

58-12  uncorrected document and adversely affected by the correction. As

58-13  to those persons, the certificate is effective when filed.

58-14     Sec. 126.  NRS 87.550 is hereby amended to read as follows:

58-15     87.550  In addition to any other fees required by NRS 87.440 to

58-16  87.540, inclusive, and 87.560, the Secretary of State shall charge

58-17  and collect the following fees for services rendered pursuant to

58-18  those sections:

58-19     1.  For certifying documents required by NRS 87.440 to 87.540,

58-20  inclusive, and 87.560, [$20] $30 per certification.

58-21     2.  For executing a certificate verifying the existence of a

58-22  registered limited-liability partnership, if the registered limited-

58-23  liability partnership has not filed a certificate of amendment,

58-24  [$40.] $60.

58-25     3.  For executing a certificate verifying the existence of a

58-26  registered limited-liability partnership, if the registered limited-

58-27  liability partnership has filed a certificate of amendment, [$40.] $60.

58-28     4.  For executing, certifying or filing any certificate or

58-29  document not required by NRS 87.440 to 87.540, inclusive, and

58-30  87.560, [$40.] $60.

58-31     5.  For any copies made by the Office of the Secretary of State,

58-32  [$1] $1.50 per page.

58-33     6.  For examining and provisionally approving any document

58-34  before the document is presented for filing, [$100.] $150.

58-35     Sec. 127.  NRS 88.339 is hereby amended to read as follows:

58-36     88.339  1.  A limited partnership may correct a document filed

58-37  by the Secretary of State with respect to the limited partnership if

58-38  the document contains an inaccurate record of a partnership action

58-39  described in the document or was defectively executed, attested,

58-40  sealed, verified or acknowledged.

58-41     2.  To correct a document, the limited partnership must:

58-42     (a) Prepare a certificate of correction that:

58-43         (1) States the name of the limited partnership;

58-44         (2) Describes the document, including, without limitation, its

58-45  filing date;

59-1          (3) Specifies the inaccuracy or defect;

59-2          (4) Sets forth the inaccurate or defective portion of the

59-3  document in an accurate or corrected form; and

59-4          (5) Is signed by a general partner of the limited partnership.

59-5      (b) Deliver the certificate to the Secretary of State for filing.

59-6      (c) Pay a filing fee of [$150] $225 to the Secretary of State.

59-7      3.  A certificate of correction is effective on the effective date

59-8  of the document it corrects except as to persons relying on the

59-9  uncorrected document and adversely affected by the correction. As

59-10  to those persons, the certificate is effective when filed.

59-11     Sec. 128.  NRS 88.395 is hereby amended to read as follows:

59-12     88.395  1.  A limited partnership shall, on or before the first

59-13  day of the second month after the filing of its certificate of limited

59-14  partnership with the Secretary of State, and annually thereafter on or

59-15  before the last day of the month in which the anniversary date of

59-16  the filing of its certificate of limited partnership occurs, file with the

59-17  Secretary of State, on a form furnished by him, a list that contains:

59-18     (a) The name of the limited partnership;

59-19     (b) The file number of the limited partnership, if known;

59-20     (c) The names of all of its general partners;

59-21     (d) The mailing or street address, either residence or business, of

59-22  each general partner;

59-23     (e) The name and street address of the resident agent of the

59-24  limited partnership; and

59-25     (f) The signature of a general partner of the limited partnership

59-26  certifying that the list is true, complete and accurate.

59-27  Each list filed pursuant to this subsection must be accompanied by a

59-28  declaration under penalty of perjury that the limited partnership has

59-29  complied with the provisions of chapter 364A of NRS.

59-30     2.  Upon filing:

59-31     (a) The initial list required by subsection 1, the limited

59-32  partnership shall pay to the Secretary of State a fee of [$165.] $250.

59-33     (b) Each annual list required by subsection 1, the limited

59-34  partnership shall pay to the Secretary of State a fee of [$85.] $130.

59-35     3.  The Secretary of State shall, 60 days before the last day for

59-36  filing each annual list required by subsection 1, cause to be mailed

59-37  to each limited partnership required to comply with the provisions

59-38  of this section which has not become delinquent a notice of the fee

59-39  due pursuant to the provisions of subsection 2 and a reminder to file

59-40  the annual list. Failure of any limited partnership to receive a

59-41  notice or form does not excuse it from the penalty imposed by

59-42  NRS 88.400.

59-43     4.  If the list to be filed pursuant to the provisions of

59-44  subsection 1 is defective or the fee required by subsection 2 is not

60-1  paid, the Secretary of State may return the list for correction or

60-2  payment.

60-3      5.  An annual list for a limited partnership not in default that is

60-4  received by the Secretary of State more than 60 days before its due

60-5  date shall be deemed an amended list for the previous year and does

60-6  not satisfy the requirements of subsection 1 for the year to which the

60-7  due date is applicable.

60-8      6.  A filing made pursuant to this section does not satisfy the

60-9  provisions of NRS 88.355 and may not be substituted for filings

60-10  submitted pursuant to NRS 88.355.

60-11     Sec. 129.  NRS 88.400 is hereby amended to read as follows:

60-12     88.400  1.  If a limited partnership has filed the list in

60-13  compliance with NRS 88.395 and has paid the appropriate fee for

60-14  the filing, the cancelled check received by the limited partnership

60-15  constitutes a certificate authorizing it to transact its business within

60-16  this state until the anniversary date of the filing of its certificate of

60-17  limited partnership in the next succeeding calendar year. If the

60-18  limited partnership desires a formal certificate upon its payment of

60-19  the annual fee, its payment must be accompanied by a self-

60-20  addressed, stamped envelope.

60-21     2.  Each limited partnership which refuses or neglects to file the

60-22  list and pay the fee within the time provided is in default.

60-23     3.  For default there must be added to the amount of the fee a

60-24  penalty of [$50,] $75, and unless the filings are made and the fee

60-25  and penalty are paid on or before the first day of the first

60-26  anniversary of the month following the month in which filing was

60-27  required, the defaulting limited partnership, by reason of its default,

60-28  forfeits its right to transact any business within this state.

60-29     Sec. 130.  NRS 88.410 is hereby amended to read as follows:

60-30     88.410  1.  Except as otherwise provided in subsections 3 and

60-31  4, the Secretary of State may:

60-32     (a) Reinstate any limited partnership which has forfeited its right

60-33  to transact business; and

60-34     (b) Restore to the limited partnership its right to carry on

60-35  business in this state, and to exercise its privileges and

60-36  immunities,

60-37  upon the filing with the Secretary of State of the list required

60-38  pursuant to NRS 88.395, and upon payment to the Secretary of State

60-39  of the filing fee and penalty set forth in NRS 88.395 and 88.400 for

60-40  each year or portion thereof during which the certificate has been

60-41  revoked, and a fee of [$200] $300 for reinstatement.

60-42     2.  When payment is made and the Secretary of State reinstates

60-43  the limited partnership to its former rights, he shall:

61-1      (a) Immediately issue and deliver to the limited partnership a

61-2  certificate of reinstatement authorizing it to transact business as if

61-3  the filing fee had been paid when due; and

61-4      (b) Upon demand, issue to the limited partnership one or more

61-5  certified copies of the certificate of reinstatement.

61-6      3.  The Secretary of State shall not order a reinstatement unless

61-7  all delinquent fees and penalties have been paid, and the revocation

61-8  occurred only by reason of failure to pay the fees and penalties.

61-9      4.  If a limited partnership’s certificate has been revoked

61-10  pursuant to the provisions of this chapter and has remained revoked

61-11  for a period of 5 years, the certificate must not be reinstated.

61-12     Sec. 131.  NRS 88.415 is hereby amended to read as follows:

61-13     88.415  The Secretary of State, for services relating to his

61-14  official duties and the records of his office, shall charge and collect

61-15  the following fees:

61-16     1.  For filing a certificate of limited partnership, or for

61-17  registering a foreign limited partnership, [$175.] $265.

61-18     2.  For filing a certificate of amendment of limited partnership

61-19  or restated certificate of limited partnership, [$150.] $225.

61-20     3.  For filing a certificate of a change of location of the records

61-21  office of a limited partnership or the office of its resident agent, or a

61-22  designation of a new resident agent, [$30.] $45.

61-23     4.  For certifying a certificate of limited partnership, an

61-24  amendment to the certificate, or a certificate as amended where a

61-25  copy is provided, [$20] $30 per certification.

61-26     5.  For certifying an authorized printed copy of the limited

61-27  partnership law, [$20.] $30.

61-28     6.  For reserving a limited partnership name, or for executing,

61-29  filing or certifying any other document, [$20.] $30.

61-30     7.  For copies made at the Office of the Secretary of State, [$1]

61-31  $1.50 per page.

61-32     8.  For filing a certificate of cancellation of a limited

61-33  partnership, [$60.] $90.

61-34  Except as otherwise provided in this section, the fees set forth in

61-35  NRS 78.785 apply to this chapter.

61-36     Sec. 132.  NRS 88A.600 is hereby amended to read as follows:

61-37     88A.600  1.  A business trust formed pursuant to this chapter

61-38  shall, on or before the first day of the second month after the filing

61-39  of its certificate of trust with the Secretary of State, and annually

61-40  thereafter on or before the last day of the month in which the

61-41  anniversary date of the filing of its certificate of trust with the

61-42  Secretary of State occurs, file with the Secretary of State, on a form

61-43  furnished by him, a list signed by at least one trustee that contains

61-44  the name and mailing address of its resident agent and at least one

61-45  trustee. Each list filed pursuant to this subsection must be

62-1  accompanied by a declaration under penalty of perjury that the

62-2  business trust has complied with the provisions of chapter 364A of

62-3  NRS.

62-4      2.  Upon filing:

62-5      (a) The initial list required by subsection 1, the business trust

62-6  shall pay to the Secretary of State a fee of [$165.] $250.

62-7      (b) Each annual list required by subsection 1, the business trust

62-8  shall pay to the Secretary of State a fee of [$85.] $130.

62-9      3.  The Secretary of State shall, 60 days before the last day for

62-10  filing each annual list required by subsection 1, cause to be mailed

62-11  to each business trust which is required to comply with the

62-12  provisions of NRS 88A.600 to 88A.660, inclusive, and which has

62-13  not become delinquent, the blank forms to be completed and filed

62-14  with him. Failure of a business trust to receive the forms does not

62-15  excuse it from the penalty imposed by law.

62-16     4.  An annual list for a business trust not in default which is

62-17  received by the Secretary of State more than 60 days before its due

62-18  date shall be deemed an amended list for the previous year.

62-19     Sec. 133.  NRS 88A.630 is hereby amended to read as follows:

62-20     88A.630  1.  Each business trust required to file the list and

62-21  pay the fee prescribed in NRS 88A.600 to 88A.660, inclusive,

62-22  which refuses or neglects to do so within the time provided shall be

62-23  deemed in default.

62-24     2.  For default[,] there must be added to the amount of the fee a

62-25  penalty of [$50.] $75. The fee and penalty must be collected as

62-26  provided in this chapter.

62-27     Sec. 134.  NRS 88A.650 is hereby amended to read as follows:

62-28     88A.650  1.  Except as otherwise provided in subsection 3, the

62-29  Secretary of State shall reinstate a business trust which has forfeited

62-30  its right to transact business pursuant to the provisions of this

62-31  chapter and shall restore to the business trust its right to carry on

62-32  business in this state, and to exercise its privileges and immunities,

62-33  if it:

62-34     (a) Files with the Secretary of State the list required by NRS

62-35  88A.600; and

62-36     (b) Pays to the Secretary of State:

62-37         (1) The filing fee and penalty set forth in NRS 88A.600 and

62-38  88A.630 for each year or portion thereof during which its certificate

62-39  of trust was revoked; and

62-40         (2) A fee of [$200] $300 for reinstatement.

62-41     2.  When the Secretary of State reinstates the business trust, he

62-42  shall:

62-43     (a) Immediately issue and deliver to the business trust a

62-44  certificate of reinstatement authorizing it to transact business as if

62-45  the filing fee had been paid when due; and

63-1      (b) Upon demand, issue to the business trust one or more

63-2  certified copies of the certificate of reinstatement.

63-3      3.  The Secretary of State shall not order a reinstatement unless

63-4  all delinquent fees and penalties have been paid, and the revocation

63-5  of the certificate of trust occurred only by reason of the failure to

63-6  file the list or pay the fees and penalties.

63-7      Sec. 135.  NRS 88A.900 is hereby amended to read as follows:

63-8      88A.900  The Secretary of State shall charge and collect the

63-9  following fees for:

63-10     1.  Filing an original certificate of trust, or for registering a

63-11  foreign business trust, [$175.] $265.

63-12     2.  Filing an amendment or restatement, or a combination

63-13  thereof, to a certificate of trust, [$150.] $225.

63-14     3.  Filing a certificate of cancellation, [$175.] $265.

63-15     4.  Certifying a copy of a certificate of trust or an amendment or

63-16  restatement, or a combination thereof, [$20] $30 per certification.

63-17     5.  Certifying an authorized printed copy of this chapter,

63-18  [$20.] $30.

63-19     6.  Reserving a name for a business trust, [$20.] $30.

63-20     7.  Executing a certificate of existence of a business trust which

63-21  does not list the previous documents relating to it, or a certificate of

63-22  change in the name of a business trust, [$40.] $60.

63-23     8.  Executing a certificate of existence of a business trust which

63-24  lists the previous documents relating to it, [$40.] $60.

63-25     9.  Filing a statement of change of address of the registered

63-26  office for each business trust, [$30.] $45.

63-27     10.  Filing a statement of change of the registered agent,

63-28  [$30.] $45.

63-29     11.  Executing, certifying or filing any certificate or document

63-30  not otherwise provided for in this section, [$40.] $60.

63-31     12.  Examining and provisionally approving a document before

63-32  the document is presented for filing, [$100.] $150.

63-33     13.  Copying a document on file with him, for each page, [$1.]

63-34  $1.50.

63-35     Sec. 136.  NRS 88A.930 is hereby amended to read as follows:

63-36     88A.930  1.  A business trust may correct a document filed by

63-37  the Secretary of State with respect to the business trust if the

63-38  document contains an inaccurate record of a trust action described in

63-39  the document or was defectively executed, attested, sealed, verified

63-40  or acknowledged.

63-41     2.  To correct a document, the business trust must:

63-42     (a) Prepare a certificate of correction that:

63-43         (1) States the name of the business trust;

63-44         (2) Describes the document, including, without limitation, its

63-45  filing date;

64-1          (3) Specifies the inaccuracy or defect;

64-2          (4) Sets forth the inaccurate or defective portion of the

64-3  document in an accurate or corrected form; and

64-4          (5) Is signed by a trustee of the business trust.

64-5      (b) Deliver the certificate to the Secretary of State for filing.

64-6      (c) Pay a filing fee of [$150] $225 to the Secretary of State.

64-7      3.  A certificate of correction is effective on the effective date

64-8  of the document it corrects except as to persons relying on the

64-9  uncorrected document and adversely affected by the correction. As

64-10  to those persons, the certificate is effective when filed.

64-11     Sec. 137.  NRS 89.210 is hereby amended to read as follows:

64-12     89.210  1.  Within 30 days after the organization of a

64-13  professional association under this chapter, the association shall file

64-14  with the Secretary of State a copy of the articles of association, duly

64-15  executed, and shall pay at that time a filing fee of [$175.] $265. Any

64-16  such association formed as a common-law association before July 1,

64-17  1969, shall file, within 30 days after July 1, 1969, a certified copy of

64-18  its articles of association, with any amendments thereto, with the

64-19  Secretary of State, and shall pay at that time a filing fee of $25. A

64-20  copy of any amendments to the articles of association adopted after

64-21  July 1, 1969, must also be filed with the Secretary of State within 30

64-22  days after the adoption of such amendments. Each copy of

64-23  amendments so filed must be certified as true and correct and be

64-24  accompanied by a filing fee of [$150.] $225.

64-25     2.  The name of such a professional association must contain

64-26  the words “Professional Association,” “Professional Organization”

64-27  or the abbreviations “Prof. Ass’n” or “Prof. Org.” The association

64-28  may render professional services and exercise its authorized powers

64-29  under a fictitious name if the association has first registered the

64-30  name in the manner required under chapter 602 of NRS.

64-31     Sec. 138.  NRS 89.250 is hereby amended to read as follows:

64-32     89.250  1.  Except as otherwise provided in subsection 2, a

64-33  professional association shall, on or before the first day of the

64-34  second month after the filing of its articles of association with the

64-35  Secretary of State, and annually thereafter on or before the last day

64-36  of the month in which the anniversary date of its organization occurs

64-37  in each year, furnish a statement to the Secretary of State showing

64-38  the names and residence addresses of all members and employees in

64-39  the association and certifying that all members and employees are

64-40  licensed to render professional service in this state.

64-41     2.  A professional association organized and practicing pursuant

64-42  to the provisions of this chapter and NRS 623.349 shall, on or

64-43  before the first day of the second month after the filing of its articles

64-44  of association with the Secretary of State, and annually thereafter on

64-45  or before the last day of the month in which the anniversary date of

65-1  its organization occurs in each year, furnish a statement to the

65-2  Secretary of State:

65-3      (a) Showing the names and residence addresses of all members

65-4  and employees of the association who are licensed or otherwise

65-5  authorized by law to render professional service in this state;

65-6      (b) Certifying that all members and employees who render

65-7  professional service are licensed or otherwise authorized by law to

65-8  render professional service in this state; and

65-9      (c) Certifying that all members who are not licensed to render

65-10  professional service in this state do not render professional service

65-11  on behalf of the association except as authorized by law.

65-12     3.  Each statement filed pursuant to this section must be:

65-13     (a) Made on a form prescribed by the Secretary of State and

65-14  must not contain any fiscal or other information except that

65-15  expressly called for by this section.

65-16     (b) Signed by the chief executive officer of the association.

65-17     (c) Accompanied by a declaration under penalty of perjury that

65-18  the professional association has complied with the provisions of

65-19  chapter 364A of NRS.

65-20     4.  Upon filing:

65-21     (a) The initial statement required by this section, the association

65-22  shall pay to the Secretary of State a fee of [$165.] $250.

65-23     (b) Each annual statement required by this section, the

65-24  association shall pay to the Secretary of State a fee of [$85.] $130.

65-25     5.  As used in this section, “signed” means to have executed or

65-26  adopted a name, word or mark, including, without limitation, an

65-27  electronic signature as defined in NRS 719.100, with the present

65-28  intention to authenticate a document.

65-29     Sec. 139.  NRS 89.252 is hereby amended to read as follows:

65-30     89.252  1.  Each professional association that is required to

65-31  make a filing and pay the fee prescribed in NRS 89.250 but refuses

65-32  to do so within the time provided is in default.

65-33     2.  For default[,] there must be added to the amount of the fee a

65-34  penalty of [$50.] $75. The fee and penalty must be collected as

65-35  provided in this chapter.

65-36     Sec. 140.  NRS 89.256 is hereby amended to read as follows:

65-37     89.256  1.  Except as otherwise provided in subsections 3 and

65-38  4, the Secretary of State shall reinstate any professional association

65-39  which has forfeited its right to transact business under the provisions

65-40  of this chapter and shall restore the right to carry on business in this

65-41  state , and to exercise its privileges and immunities , if it:

65-42     (a) Files with the Secretary of State the statement and

65-43  certification required by NRS 89.250; and

65-44     (b) Pays to the Secretary of State:

66-1          (1) The filing fee and penalty set forth in NRS 89.250 and

66-2  89.252 for each year or portion thereof during which the articles of

66-3  association have been revoked; and

66-4          (2) A fee of [$200] $300 for reinstatement.

66-5      2.  When the Secretary of State reinstates the association to its

66-6  former rights, he shall:

66-7      (a) Immediately issue and deliver to the association a certificate

66-8  of reinstatement authorizing it to transact business, as if the fees had

66-9  been paid when due; and

66-10     (b) Upon demand, issue to the association a certified copy of the

66-11  certificate of reinstatement.

66-12     3.  The Secretary of State shall not order a reinstatement unless

66-13  all delinquent fees and penalties have been paid, and the revocation

66-14  of the association’s articles of association occurred only by reason

66-15  of its failure to pay the fees and penalties.

66-16     4.  If the articles of association of a professional association

66-17  have been revoked pursuant to the provisions of this chapter and

66-18  have remained revoked for 10 consecutive years, the articles must

66-19  not be reinstated.

66-20     Sec. 141.  NRS 90.360 is hereby amended to read as follows:

66-21     90.360  1.  An applicant for licensing shall pay a

66-22  nonrefundable licensing fee, due annually in the following amounts:

66-23     (a) Broker-dealer, [$150.] $225.

66-24     (b) Sales representative, [$55.] $85.

66-25     (c) Investment adviser, [$150.] $225.

66-26     (d) Representative of an investment adviser, [$55.] $85.

66-27     2.  The Administrator by regulation may require licensing of

66-28  branch offices and may impose a fee for the licensing and an annual

66-29  fee.

66-30     3.  For the purpose of this section, a “branch office” means any

66-31  place of business in this state , other than the principal office in the

66-32  State of the broker-dealer, from which one or more sales

66-33  representatives transact business.

66-34     Sec. 142.  NRS 90.380 is hereby amended to read as follows:

66-35     90.380  1.  Unless a proceeding under NRS 90.420 has been

66-36  instituted, the license of any broker-dealer, sales representative,

66-37  investment adviser or representative of an investment adviser

66-38  becomes effective 30 days after an application for licensing has

66-39  been filed and is complete, including any amendment, if all

66-40  requirements imposed pursuant to NRS 90.370 and 90.375 have

66-41  been satisfied. An application or amendment is complete when the

66-42  applicant has furnished information responsive to each applicable

66-43  item of the application. The Administrator may authorize an earlier

66-44  effective date of licensing.

67-1      2.  The license of a broker-dealer, sales representative,

67-2  investment adviser or representative of an investment adviser is

67-3  effective until terminated by revocation, suspension, expiration or

67-4  withdrawal.

67-5      3.  The license of a sales representative is only effective with

67-6  respect to transactions effected on behalf of the broker-dealer or

67-7  issuer for whom the sales representative is licensed.

67-8      4.  A person shall not at any one time act as a sales

67-9  representative for more than one broker-dealer or for more than one

67-10  issuer, unless the Administrator by regulation or order authorizes

67-11  multiple licenses.

67-12     5.  If a person licensed as a sales representative terminates

67-13  association with a broker-dealer or issuer or ceases to be a sales

67-14  representative, the sales representative and the broker-dealer or

67-15  issuer on whose behalf the sales representative was acting shall

67-16  promptly notify the Administrator.

67-17     6.  The Administrator by regulation may authorize one or more

67-18  special classifications of licenses as a broker-dealer, sales

67-19  representative, investment adviser or representative of an investment

67-20  adviser to be issued to applicants subject to limitations and

67-21  conditions on the nature of the activities that may be conducted by

67-22  persons so licensed.

67-23     7.  The license of a broker-dealer, sales representative,

67-24  investment adviser or representative of an investment adviser

67-25  expires if:

67-26     (a) The statement required pursuant to NRS 90.375 is not

67-27  submitted when it is due; or

67-28     (b) The annual fee required by NRS 90.360 is not paid when it is

67-29  due.

67-30     8.  A license that has expired may be reinstated retroactively if

67-31  the licensed person:

67-32     (a) Submits the statement required pursuant to NRS 90.375; and

67-33     (b) Pays the fee required by NRS 90.360, plus a fee for

67-34  reinstatement in the amount of [$25,] $40,

67-35  within 30 days after the date of expiration. If the license is not

67-36  reinstated within that time, it shall be deemed to have lapsed as of

67-37  the date of expiration, and the licensed person must thereafter

67-38  submit a new application for licensing if he desires to be relicensed.

67-39     Sec. 143.  NRS 90.456 is hereby amended to read as follows:

67-40     90.456  1.  The Administrator may charge a fee not to exceed

67-41  [.25] 0.4 percent of the total value of each transaction involving the

67-42  purchase, sale or other transfer of a security conducted by a

67-43  securities exchange located in this state.

68-1      2.  The Administrator may adopt by regulation or order, and

68-2  shall cause to be published, a table of fees based upon the direct cost

68-3  of regulating the securities exchange.

68-4      Sec. 144.  NRS 90.500 is hereby amended to read as follows:

68-5      90.500  1.  A registration statement may be filed by the issuer,

68-6  any other person on whose behalf the offering is to be made[,] or a

68-7  broker-dealer licensed under this chapter.

68-8      2.  Except as provided in subsection 3, a person filing a

68-9  registration statement shall pay a filing fee of [one-tenth of 1] 0.15

68-10  percent of the maximum aggregate offering price at which the

68-11  registered securities are to be offered in this state, but not less than

68-12  [$350] $525 or more than [$2,500.] $3,750. If a registration

68-13  statement is withdrawn before the effective date or a pre-effective

68-14  order is entered under NRS 90.510, the Administrator shall retain

68-15  the fee.

68-16     3.  An open-end management company, a face amount

68-17  certificate company or a unit investment trust, as defined in the

68-18  Investment Company Act of 1940, may register an indefinite

68-19  amount of securities under a registration statement. The registrant

68-20  shall pay:

68-21     (a) A fee of [$500] $750 at the time of filing; and

68-22     (b) Within 60 days after the registrant’s fiscal year during which

68-23  its statement is effective, a fee of [$2,000,] $3,000, or file a report

68-24  on a form the Administrator adopts, specifying its sale of securities

68-25  to persons in this state during the fiscal year and pay a fee of [one-

68-26  tenth of 1] 0.15 percent of the aggregate sales price of the securities

68-27  sold to persons in this state, but the latter fee must not be less than

68-28  [$350] $525 or more than [$2,500.] $3,750.

68-29     4.  Except as otherwise permitted by subsection 3, a statement

68-30  must specify:

68-31     (a) The amount of securities to be offered in this state and the

68-32  states in which a statement or similar document in connection with

68-33  the offering has been or is to be filed; and

68-34     (b) Any adverse order, judgment or decree entered by a

68-35  securities agency or administrator in any state or by a court or the

68-36  Securities and Exchange Commission in connection with the

68-37  offering.

68-38     5.  A document filed under this chapter as now or previously in

68-39  effect, within 5 years before the filing of a registration statement,

68-40  may be incorporated by reference in the registration statement if the

68-41  document is currently accurate.

68-42     6.  The Administrator by regulation or order may permit the

68-43  omission of an item of information or document from a statement.

68-44     7.  In the case of a nonissuer offering, the Administrator may

68-45  not require information under subsection 13 or NRS 90.510 [or

69-1  subsection 13 of this section] unless it is known to the person filing

69-2  the registration statement or to the person on whose behalf the

69-3  offering is to be made, or can be furnished by one of them without

69-4  unreasonable effort or expense.

69-5      8.  In the case of a registration under NRS 90.480 or 90.490 by

69-6  an issuer who has no public market for its shares and no significant

69-7  earnings from continuing operations during the last 5 years or any

69-8  shorter period of its existence, the Administrator by regulation or

69-9  order may require as a condition of registration that the following

69-10  securities be deposited in escrow for not more than 3 years:

69-11     (a) A security issued to a promoter within the 3 years

69-12  immediately before the offering or to be issued to a promoter for a

69-13  consideration substantially less than the offering price; and

69-14     (b) A security issued to a promoter for a consideration other

69-15  than cash, unless the registrant demonstrates that the value of the

69-16  noncash consideration received in exchange for the security is

69-17  substantially equal to the offering price for the security.

69-18  The Administrator by regulation may determine the conditions of an

69-19  escrow required under this subsection, but the Administrator may

69-20  not reject a depository solely because of location in another state.

69-21     9.  The Administrator by regulation may require as a condition

69-22  of registration under NRS 90.480 or 90.490 that the proceeds from

69-23  the sale of the registered security in this state must be impounded

69-24  until the issuer receives a specified amount from the sale of the

69-25  security. The Administrator by regulation or order may determine

69-26  the conditions of an impounding arrangement required under this

69-27  subsection, but the Administrator may not reject a depository solely

69-28  because of its location in another state.

69-29     10.  If a security is registered pursuant to NRS 90.470 or

69-30  90.480, the prospectus filed under the Securities Act of 1933 must

69-31  be delivered to each purchaser in accordance with the requirements

69-32  of that act for the delivery of a prospectus.

69-33     11.  If a security is registered pursuant to NRS 90.490, an

69-34  offering document containing information the Administrator by

69-35  regulation or order designates must be delivered to each purchaser

69-36  with or before the earliest of:

69-37     (a) The first written offer made to the purchaser by or for the

69-38  account of the issuer or another person on whose behalf the offering

69-39  is being made or by an underwriter or broker-dealer who is offering

69-40  part of an unsold allotment or subscription taken by it as a

69-41  participant in the distribution;

69-42     (b) Confirmation of a sale made by or for the account of a

69-43  person named in paragraph (a);

69-44     (c) Payment pursuant to a sale; or

 

70-1      (d) Delivery pursuant to a sale.

70-2      12.  Except for a registration statement under which an

70-3  indefinite amount of securities are registered as provided in

70-4  subsection 3, a statement remains effective for 1 year after its

70-5  effective date unless the Administrator by regulation extends the

70-6  period of effectiveness. A registration statement under which an

70-7  indefinite amount of securities are registered remains effective until

70-8  60 days after the beginning of the registrant’s next fiscal year

70-9  following the date the statement was filed. All outstanding securities

70-10  of the same class as a registered security are considered to be

70-11  registered for the purpose of a nonissuer transaction while the

70-12  registration statement is effective, unless the Administrator by

70-13  regulation or order provides otherwise. A registration statement may

70-14  not be withdrawn after its effective date if any of the securities

70-15  registered have been sold in this state, unless the Administrator by

70-16  regulation or order provides otherwise. No registration statement is

70-17  effective while an order is in effect under subsection 1 of

70-18  NRS 90.510.

70-19     13.  During the period that an offering is being made pursuant

70-20  to an effective registration statement, the Administrator by

70-21  regulation or order may require the person who filed the registration

70-22  statement to file reports, not more often than quarterly, to keep

70-23  reasonably current the information contained in the registration

70-24  statement and to disclose the progress of the offering.

70-25     14.  A registration statement filed under NRS 90.470 or 90.480

70-26  may be amended after its effective date to increase the securities

70-27  specified to be offered and sold. The amendment becomes effective

70-28  upon filing of the amendment and payment of an additional filing

70-29  fee of [3] three times the fee otherwise payable, calculated in the

70-30  manner specified in subsection 2, with respect to the additional

70-31  securities to be offered and sold. The effectiveness of the

70-32  amendment relates back to the date or dates of sale of the additional

70-33  securities being registered.

70-34     15.  A registration statement filed under NRS 90.490 may be

70-35  amended after its effective date to increase the securities specified to

70-36  be offered and sold, if the public offering price and underwriters’

70-37  discounts and commissions are not changed from the respective

70-38  amounts which the Administrator was informed. The amendment

70-39  becomes effective when the Administrator so orders and relates

70-40  back to the date of sale of the additional securities being registered.

70-41  A person filing an amendment shall pay an additional filing fee of

70-42  [3] three times the fee otherwise payable, calculated in the manner

70-43  specified in subsection 2, with respect to the additional securities to

70-44  be offered and sold.

 

71-1      Sec. 145.  NRS 90.520 is hereby amended to read as follows:

71-2      90.520  1.  As used in this section:

71-3      (a) “Guaranteed” means guaranteed as to payment of all or

71-4  substantially all of the principal and interest or dividends.

71-5      (b) “Insured” means insured as to payment of all or substantially

71-6  all of the principal and interest or dividends.

71-7      2.  Except as otherwise provided in subsections 4 and 5, the

71-8  following securities are exempt from NRS 90.460 and 90.560:

71-9      (a) A security, including a revenue obligation, issued, insured or

71-10  guaranteed by the United States, an agency or corporate or other

71-11  instrumentality of the United States, an international agency or

71-12  corporate or other instrumentality of which the United States and

71-13  one or more foreign governments are members, a state, a political

71-14  subdivision of a state, or an agency or corporate or other

71-15  instrumentality of one or more states or their political subdivisions,

71-16  or a certificate of deposit for any of the foregoing, but this

71-17  exemption does not include a security payable solely from revenues

71-18  to be received from an enterprise unless the:

71-19         (1) Payments are insured or guaranteed by the United States,

71-20  an agency or corporate or other instrumentality of the United States,

71-21  an international agency or corporate or other instrumentality of

71-22  which the United States and one or more foreign governments are

71-23  members, a state, a political subdivision of a state, or an agency or

71-24  corporate or other instrumentality of one or more states or their

71-25  political subdivisions, or by a person whose securities are exempt

71-26  from registration pursuant to paragraphs (b) to (e), inclusive, or (g),

71-27  or the revenues from which the payments are to be made are a direct

71-28  obligation of such a person;

71-29         (2) Security is issued by this state or an agency,

71-30  instrumentality or political subdivision of this state; or

71-31         (3) Payments are insured or guaranteed by a person who,

71-32  within the 12 months next preceding the date on which the securities

71-33  are issued, has received a rating within one of the top four rating

71-34  categories of either Moody’s Investors Service, Inc., or Standard

71-35  and Poor’s Ratings Services.

71-36     (b) A security issued, insured or guaranteed by Canada, a

71-37  Canadian province or territory, a political subdivision of Canada or

71-38  of a Canadian province or territory, an agency or corporate or other

71-39  instrumentality of one or more of the foregoing, or any other foreign

71-40  government or governmental combination or entity with which the

71-41  United States maintains diplomatic relations, if the security is

71-42  recognized as a valid obligation by the issuer, insurer or guarantor.

71-43     (c) A security issued by and representing an interest in or a

71-44  direct obligation of a depository institution if the deposit or share

71-45  accounts of the depository institution are insured by the Federal

72-1  Deposit Insurance Corporation, the National Credit Union Share

72-2  Insurance Fund or a successor to an applicable agency authorized by

72-3  federal law.

72-4      (d) A security issued by and representing an interest in or a

72-5  direct obligation of, or insured or guaranteed by, an insurance

72-6  company organized under the laws of any state and authorized to do

72-7  business in this state.

72-8      (e) A security issued or guaranteed by a railroad, other common

72-9  carrier, public utility or holding company that is:

72-10         (1) Subject to the jurisdiction of the Surface Transportation

72-11  Board;

72-12         (2) A registered holding company under the Public Utility

72-13  Holding Company Act of 1935 or a subsidiary of a registered

72-14  holding company within the meaning of that act;

72-15         (3) Regulated in respect to its rates and charges by a

72-16  governmental authority of the United States or a state; or

72-17         (4) Regulated in respect to the issuance or guarantee of the

72-18  security by a governmental authority of the United States, a state,

72-19  Canada, or a Canadian province or territory.

72-20     (f) Equipment trust certificates in respect to equipment leased or

72-21  conditionally sold to a person, if securities issued by the person

72-22  would be exempt pursuant to this section.

72-23     (g) A security listed or approved for listing upon notice of

72-24  issuance on the New York Stock Exchange, the American Stock

72-25  Exchange, the Midwest Stock Exchange, the Pacific Stock

72-26  Exchange or other exchange designated by the Administrator, any

72-27  other security of the same issuer which is of senior or substantially

72-28  equal rank, a security called for by subscription right or warrant so

72-29  listed or approved, or a warrant or right to purchase or subscribe to

72-30  any of the foregoing.

72-31     (h) A security designated or approved for designation upon

72-32  issuance or notice of issuance for inclusion in the national market

72-33  system by the National Association of Securities Dealers, Inc., any

72-34  other security of the same issuer which is of senior or substantially

72-35  equal rank, a security called for by subscription right or warrant so

72-36  designated, or a warrant or a right to purchase or subscribe to any of

72-37  the foregoing.

72-38     (i) An option issued by a clearing agency registered under the

72-39  Securities Exchange Act of 1934, other than an off-exchange futures

72-40  contract or substantially similar arrangement, if the security,

72-41  currency, commodity[,] or other interest underlying the option is:

72-42         (1) Registered under NRS 90.470, 90.480 or 90.490;

72-43         (2) Exempt pursuant to this section; or

72-44         (3) Not otherwise required to be registered under this

72-45  chapter.

73-1      (j) A security issued by a person organized and operated not for

73-2  private profit but exclusively for a religious, educational,

73-3  benevolent, charitable, fraternal, social, athletic or reformatory

73-4  purpose, or as a chamber of commerce or a trade or professional

73-5  association if at least 10 days before the sale of the security the

73-6  issuer has filed with the Administrator a notice setting forth the

73-7  material terms of the proposed sale and copies of any sales and

73-8  advertising literature to be used and the Administrator by order does

73-9  not disallow the exemption within the next 5 full business days.

73-10     (k) A promissory note, draft, bill of exchange or banker’s

73-11  acceptance that evidences an obligation to pay cash within 9 months

73-12  after the date of issuance, exclusive of days of grace, is issued in

73-13  denominations of at least $50,000 and receives a rating in one of the

73-14  three highest rating categories from a nationally recognized

73-15  statistical rating organization, or a renewal of such an obligation that

73-16  is likewise limited, or a guarantee of such an obligation or of a

73-17  renewal.

73-18     (l) A security issued in connection with an employees’ stock

73-19  purchase, savings, option, profit-sharing, pension or similar

73-20  employees’ benefit plan.

73-21     (m) A membership or equity interest in, or a retention certificate

73-22  or like security given in lieu of a cash patronage dividend issued by,

73-23  a cooperative organized and operated as a nonprofit membership

73-24  cooperative under the cooperative laws of any state if not traded to

73-25  the general public.

73-26     (n) A security issued by an issuer registered as an open-end

73-27  management investment company or unit investment trust under

73-28  section 8 of the Investment Company Act of 1940 if:

73-29         (1) The issuer is advised by an investment adviser that is a

73-30  depository institution exempt from registration under the Investment

73-31  Adviser Act of 1940 or that is currently registered as an investment

73-32  adviser, and has been registered, or is affiliated with an adviser that

73-33  has been registered, as an investment adviser under the Investment

73-34  Advisers Act of 1940 for at least 3 years next preceding an offer or

73-35  sale of a security claimed to be exempt pursuant to this paragraph,

73-36  and the issuer has acted, or is affiliated with an investment adviser

73-37  that has acted, as investment adviser to one or more registered

73-38  investment companies or unit investment trusts for at least 3 years

73-39  next preceding an offer or sale of a security claimed to be exempt

73-40  under this paragraph; or

73-41         (2) The issuer has a sponsor that has at all times throughout

73-42  the 3 years before an offer or sale of a security claimed to be exempt

73-43  pursuant to this paragraph sponsored one or more registered

73-44  investment companies or unit investment trusts the aggregate total

73-45  assets of which have exceeded $100,000,000.

74-1      3.  For the purpose of paragraph (n) of subsection 2, an

74-2  investment adviser is affiliated with another investment adviser if it

74-3  controls, is controlled by[,] or is under common control with the

74-4  other investment adviser.

74-5      4.  The exemption provided by paragraph (n) of subsection 2 is

74-6  available only if the person claiming the exemption files with the

74-7  Administrator a notice of intention to sell which sets forth the name

74-8  and address of the issuer and the securities to be offered in this state

74-9  and pays a fee [of:

74-10     (a) Two hundred and fifty dollars] :

74-11     (a) Of $375 for the initial claim of exemption and the same

74-12  amount at the beginning of each fiscal year thereafter in which

74-13  securities are to be offered in this state, in the case of an open-end

74-14  management company; or

74-15     (b) [One hundred and fifty dollars] Of $225 for the initial claim

74-16  of exemption in the case of a unit investment trust.

74-17     5.  An exemption provided by paragraph (c), (e), (f), (i) or (k)

74-18  of subsection 2 is available only if, within the 12 months

74-19  immediately preceding the use of the exemption, a notice of claim

74-20  of exemption has been filed with the Administrator and a

74-21  nonrefundable fee of [$150] $225 has been paid.

74-22     Sec. 146.  NRS 90.530 is hereby amended to read as follows:

74-23     90.530  The following transactions are exempt from NRS

74-24  90.460 and 90.560:

74-25     1.  An isolated nonissuer transaction, whether or not effected

74-26  through a broker-dealer.

74-27     2.  A nonissuer transaction in an outstanding security if the

74-28  issuer of the security has a class of securities subject to registration

74-29  under section 12 of the Securities Exchange Act of 1934, 15 U.S.C.

74-30  § 781, and has been subject to the reporting requirements of section

74-31  13 or [15(c)] 15(d) of the Securities Exchange Act of 1934, 15

74-32  U.S.C. §§ 78m and 78o(d), for not less than 90 days next preceding

74-33  the transaction, or has filed and maintained with the Administrator

74-34  for not less than 90 days preceding the transaction information, in

74-35  such form as the Administrator, by regulation, specifies,

74-36  substantially comparable to the information the issuer would be

74-37  required to file under section 12(b) or 12(g) of the Securities

74-38  Exchange Act of 1934, 15 U.S.C. §§ 78l(b) and 78l(g), were the

74-39  issuer to have a class of its securities registered under section 12 of

74-40  the Securities Exchange Act of 1934, 15 U.S.C. § 78l, and paid a fee

74-41  of $225 with the filing . [of $150.]

74-42     3.  A nonissuer transaction by a sales representative licensed in

74-43  this state, in an outstanding security if:

74-44     (a) The security is sold at a price reasonably related to the

74-45  current market price of the security at the time of the transaction;

75-1      (b) The security does not constitute all or part of an unsold

75-2  allotment to, or subscription or participation by, a broker-dealer as

75-3  an underwriter of the security;

75-4      (c) At the time of the transaction, a recognized securities manual

75-5  designated by the Administrator by regulation or order contains the

75-6  names of the issuer’s officers and directors, a statement of the

75-7  financial condition of the issuer as of a date within the preceding 18

75-8  months, and a statement of income or operations for each of the last

75-9  2 years next preceding the date of the statement of financial

75-10  condition, or for the period as of the date of the statement of

75-11  financial condition if the period of existence is less than 2 years;

75-12     (d) The issuer of the security has not undergone a major

75-13  reorganization, merger or acquisition within the preceding 30 days

75-14  which is not reflected in the information contained in the manual;

75-15  and

75-16     (e) At the time of the transaction, the issuer of the security has a

75-17  class of equity security listed on the New York Stock Exchange,

75-18  American Stock Exchange or other exchange designated by the

75-19  Administrator, or on the National Market System of the National

75-20  Association of Securities Dealers Automated Quotation System. The

75-21  requirements of this paragraph do not apply if:

75-22         (1) The security has been outstanding for at least 180 days;

75-23         (2) The issuer of the security is actually engaged in business

75-24  and is not developing his business, in bankruptcy or in receivership;

75-25  and

75-26         (3) The issuer of the security has been in continuous

75-27  operation for at least 5 years.

75-28     4.  A nonissuer transaction in a security that has a fixed

75-29  maturity or a fixed interest or dividend provision if there has been

75-30  no default during the current fiscal year or within the 3 preceding

75-31  years, or during the existence of the issuer, and any predecessors if

75-32  less than 3 years, in the payment of principal, interest or dividends

75-33  on the security.

75-34     5.  A nonissuer transaction effected by or through a registered

75-35  broker-dealer pursuant to an unsolicited order or offer to purchase.

75-36     6.  A transaction between the issuer or other person on whose

75-37  behalf the offering of a security is made and an underwriter, or a

75-38  transaction among underwriters.

75-39     7.  A transaction in a bond or other evidence of indebtedness

75-40  secured by a real estate mortgage, deed of trust, personal property

75-41  security agreement, or by an agreement for the sale of real estate or

75-42  personal property, if the entire mortgage, deed of trust or agreement,

75-43  together with all the bonds or other evidences of indebtedness

75-44  secured thereby, is offered and sold as a unit.

76-1      8.  A transaction by an executor, administrator, sheriff, marshal,

76-2  receiver, trustee in bankruptcy, guardian or conservator.

76-3      9.  A transaction executed by a bona fide secured party without

76-4  the purpose of evading this chapter.

76-5      10.  An offer to sell or the sale of a security to a financial or

76-6  institutional investor or to a broker-dealer.

76-7      11.  Except as otherwise provided in this subsection, a

76-8  transaction pursuant to an offer to sell securities of an issuer if:

76-9      (a) The transaction is part of an issue in which there are not

76-10  more than 25 purchasers in this state, other than those designated in

76-11  subsection 10, during any 12 consecutive months;

76-12     (b) No general solicitation or general advertising is used in

76-13  connection with the offer to sell or the sale of the securities;

76-14     (c) No commission or other similar compensation is paid or

76-15  given, directly or indirectly, to a person, other than a broker-dealer

76-16  licensed or not required to be licensed under this chapter, for

76-17  soliciting a prospective purchaser in this state; and

76-18     (d) One of the following conditions is satisfied:

76-19         (1) The seller reasonably believes that all the purchasers in

76-20  this state, other than those designated in subsection 10, are

76-21  purchasing for investment; or

76-22         (2) Immediately before and immediately after the

76-23  transaction, the issuer reasonably believes that the securities of the

76-24  issuer are held by 50 or fewer beneficial owners, other than those

76-25  designated in subsection 10, and the transaction is part of an

76-26  aggregate offering that does not exceed $500,000 during any 12

76-27  consecutive months.

76-28  The Administrator by rule or order as to a security or transaction , or

76-29  a type of security or transaction, may withdraw or further condition

76-30  the exemption set forth in this subsection or waive one or more of

76-31  the conditions of the exemption.

76-32     12.  An offer to sell or the sale of a preorganization certificate

76-33  or subscription if:

76-34     (a) No commission or other similar compensation is paid or

76-35  given, directly or indirectly, for soliciting a prospective subscriber;

76-36     (b) No public advertising or general solicitation is used in

76-37  connection with the offer to sell or the sale;

76-38     (c) The number of offers does not exceed 50;

76-39     (d) The number of subscribers does not exceed 10; and

76-40     (e) No payment is made by a subscriber.

76-41     13.  An offer to sell or the sale of a preorganization certificate

76-42  or subscription issued in connection with the organization of a

76-43  depository institution if that organization is under the supervision of

76-44  an official or agency of a state or of the United States which has and

76-45  exercises the authority to regulate and supervise the organization of

77-1  the depository institution. For the purpose of this subsection, “under

77-2  the supervision of an official or agency” means that the official or

77-3  agency by law has authority to require disclosures to prospective

77-4  investors similar to those required under NRS 90.490, impound

77-5  proceeds from the sale of a preorganization certificate or

77-6  subscription until organization of the depository institution is

77-7  completed, and require refund to investors if the depository

77-8  institution does not obtain a grant of authority from the appropriate

77-9  official or agency.

77-10     14.  A transaction pursuant to an offer to sell to existing

77-11  security holders of the issuer, including persons who at the time of

77-12  the transaction are holders of transferable warrants exercisable

77-13  within not more than 90 days after their issuance, convertible

77-14  securities or nontransferable warrants, if:

77-15     (a) No commission or other similar compensation , other than a

77-16  standby commission, is paid or given, directly or indirectly, for

77-17  soliciting a security holder in this state; or

77-18     (b) The issuer first files a notice specifying the terms of the offer

77-19  to sell, together with a nonrefundable fee of [$150,] $225, and the

77-20  Administrator does not by order disallow the exemption within the

77-21  next 5 full business days.

77-22     15.  A transaction involving an offer to sell, but not a sale, of a

77-23  security not exempt from registration under the Securities Act of

77-24  1933, 15 U.S.C. §§ 77a et seq., if:

77-25     (a) A registration or offering statement or similar document as

77-26  required under the Securities Act of 1933, 15 U.S.C. §§ 77a et seq.,

77-27  has been filed, but is not effective;

77-28     (b) A registration statement, if required, has been filed under

77-29  this chapter, but is not effective; and

77-30     (c) No order denying, suspending or revoking the effectiveness

77-31  of registration, of which the offeror is aware, has been entered by

77-32  the Administrator or the Securities and Exchange Commission, and

77-33  no examination or public proceeding that may culminate in that kind

77-34  of order is known by the offeror to be pending.

77-35     16.  A transaction involving an offer to sell, but not a sale, of a

77-36  security exempt from registration under the Securities Act of 1933,

77-37  15 U.S.C. §§ 77a et seq., if:

77-38     (a) A registration statement has been filed under this chapter, but

77-39  is not effective; and

77-40     (b) No order denying, suspending or revoking the effectiveness

77-41  of registration, of which the offeror is aware, has been entered by

77-42  the Administrator and no examination or public proceeding that may

77-43  culminate in that kind of order is known by the offeror to be

77-44  pending.

78-1      17.  A transaction involving the distribution of the securities of

78-2  an issuer to the security holders of another person in connection

78-3  with a merger, consolidation, exchange of securities, sale of assets

78-4  or other reorganization to which the issuer, or its parent or

78-5  subsidiary, and the other person, or its parent or subsidiary, are

78-6  parties, if:

78-7      (a) The securities to be distributed are registered under the

78-8  Securities Act of 1933, 15 U.S.C. §§ 77a et seq., before the

78-9  consummation of the transaction; or

78-10     (b) The securities to be distributed are not required to be

78-11  registered under the Securities Act of 1933, 15 U.S.C. §§ 77a et

78-12  seq., written notice of the transaction and a copy of the materials, if

78-13  any, by which approval of the transaction will be solicited, together

78-14  with a nonrefundable fee of [$150,] $225, are given to the

78-15  Administrator at least 10 days before the consummation of the

78-16  transaction and the Administrator does not, by order, disallow

78-17  the exemption within the next 10 days.

78-18     18.  A transaction involving the offer to sell or the sale of one

78-19  or more promissory notes each of which is directly secured by a first

78-20  lien on a single parcel of real estate, or a transaction involving the

78-21  offer to sell or the sale of participation interests in the notes if the

78-22  notes and participation interests are originated by a depository

78-23  institution and are offered and sold subject to the following

78-24  conditions:

78-25     (a) The minimum aggregate sales price paid by each purchaser

78-26  may not be less than $250,000;

78-27     (b) Each purchaser must pay cash either at the time of the sale or

78-28  within 60 days after the sale; and

78-29     (c) Each purchaser may buy for his own account only.

78-30     19.  A transaction involving the offer to sell or the sale of one

78-31  or more promissory notes directly secured by a first lien on a single

78-32  parcel of real estate or participating interests in the notes, if the

78-33  notes and interests are originated by a mortgagee approved by the

78-34  Secretary of Housing and Urban Development under sections 203

78-35  and 211 of the National Housing Act, 12 U.S.C. §§ 1709 and 1715b,

78-36  and are offered or sold, subject to the conditions specified in

78-37  subsection 18, to a depository institution or insurance company, the

78-38  Federal Home Loan Mortgage Corporation, the Federal National

78-39  Mortgage Association or the Government National Mortgage

78-40  Association.

78-41     20.  A transaction between any of the persons described in

78-42  subsection 19 involving a nonassignable contract to buy or sell the

78-43  securities described in subsection 18 if the contract is to be

78-44  completed within 2 years and if:

79-1      (a) The seller of the securities pursuant to the contract is one of

79-2  the parties described in subsection 18 or 19 who may originate

79-3  securities;

79-4      (b) The purchaser of securities pursuant to a contract is any

79-5  other person described in subsection 19; and

79-6      (c) The conditions described in subsection 18 are fulfilled.

79-7      21.  A transaction involving one or more promissory notes

79-8  secured by a lien on real estate, or participating interests in those

79-9  notes, by:

79-10     (a) A mortgage company licensed pursuant to chapter 645E

79-11  of NRS to engage in those transactions; or

79-12     (b) A mortgage broker licensed pursuant to chapter 645B of

79-13  NRS to engage in those transactions.

79-14     Sec. 147.  NRS 90.540 is hereby amended to read as follows:

79-15     90.540  The Administrator by regulation or order may:

79-16     1.  Exempt any other security or transaction or class of

79-17  securities or transactions from NRS 90.460 and 90.560.

79-18     2.  Adopt a transactional exemption for limited offerings that

79-19  will further the objectives of compatibility with the exemptions from

79-20  securities registration authorized by the Securities Act of 1933 and

79-21  uniformity among the states.

79-22     3.  Require the filing of a notice and the payment of a fee not

79-23  greater than [$250] $375 for an exemption adopted pursuant to this

79-24  section.

79-25     Sec. 148.  NRS 92A.190 is hereby amended to read as follows:

79-26     92A.190  1.  One or more foreign entities may merge or enter

79-27  into an exchange of owner’s interests with one or more domestic

79-28  entities if:

79-29     (a) In a merger, the merger is permitted by the law of the

79-30  jurisdiction under whose law each foreign entity is organized and

79-31  governed and each foreign entity complies with that law in effecting

79-32  the merger;

79-33     (b) In an exchange, the entity whose owner’s interests will be

79-34  acquired is a domestic entity, whether or not an exchange of

79-35  owner’s interests is permitted by the law of the jurisdiction under

79-36