Nevada § 360.264 - Delinquent taxes: Annual reports; designation as bad debt and removal from state books of account; master file of bad debts

§ 360.264. Delinquent taxes: Annual reports; designation as bad debt and removal from state books of account; master file of bad debts

1. On or before January 15 of each year, the Department shall prepare and furnish

to the Nevada Tax Commission a report that shows all money owed to the Department

for delinquent payments of any tax administered by the Department during the preceding

year. 2. The Department shall include in the report prepared pursuant to subsection 1 the

amount of any delinquent taxes that the Department determines is impossible or impractical

to collect. 3. If the Department determines that it is impossible or impractical to collect any

amount of delinquent taxes, the Nevada Tax Commission shall request that the State

Board of Examiners designate such amount as a bad debt. The State Board of Examiners, by an affirmative vote of the majority of the members

of the Board, may designate the delinquent taxes as a bad debt if the Board is satisfied

that the collection of the delinquent taxes is impossible or impractical. If the amount of the delinquent taxes is not more than $50, the State Board of Examiners

may delegate to its Clerk the authority to designate delinquent taxes as a bad debt. The Nevada Tax Commission may appeal to the State Board of Examiners a denial by

the Clerk of a request to designate delinquent taxes as a bad debt. 4. Upon the designation of delinquent taxes as a bad debt pursuant to this section,

the State Board of Examiners or its Clerk shall immediately notify the State Controller

thereof. Upon receiving the notification, the State Controller shall direct the removal of

the bad debt from the books of account of the State of Nevada. A bad debt that is removed pursuant to this section remains a legal and binding

obligation owed by the debtor to the State of Nevada. 5. The State Controller shall keep a master file of all delinquent taxes that are

designated as bad debts pursuant to this section. For each such debt, the State Controller shall record the name of the debtor, the

amount of the debt, the date on which the debt was incurred and the date on which

it was removed from the records and books of account of the State of Nevada, and any

other information concerning the debt that the State Controller determines is necessary.