Nevada § 360.320 - Offsetting of certain overpayments; calculation of penalties and interest

§ 360.320. Offsetting of certain overpayments; calculation of penalties and interest

1. Except as otherwise provided in this title, in making a determination of the amount

required to be paid, the Department shall offset overpayments for a reporting period

of an audit period against underpayments for any other reporting period within the

audit period. 2. If it is determined that there is a net deficiency, any penalty imposed must be

calculated based on the amount of the net deficiency. 3. If it is determined that: (a) There is a net deficiency for a reporting period after offsetting any overpayment

from any previous reporting period, any interest imposed on the net deficiency must

be calculated before determining whether there is an overpayment or net deficiency

for the next reporting period within the audit period. (b) There is a net overpayment for a reporting period after offsetting any net deficiency

from any previous reporting period, any interest to which the taxpayer is entitled

must be calculated before determining whether there is an overpayment or net deficiency

for the next reporting period within the audit period. 4. The provisions of this section do not apply if, in any reporting period within

the audit period, the taxpayer has: (a) Failed to file a report or return that he or she is required to file; (b) Filed such a report or return later than the date it is due; (c) Filed such a report or return that erroneously shows no taxes due; or (d) Filed such a report or return that shows taxes due and has not remitted the taxes

due in a timely manner. 5. As used in this section, “ reporting period ” includes, without limitation, a calendar month, a calendar quarter, a calendar year

and any other period for reporting.