Nevada § 360B.120 - Prerequisites to membership

§ 360B.120. Prerequisites to membership

1. The Nevada Tax Commission shall not enter into the Agreement unless the Agreement: (a) Sets restrictions to limit over time the number of state rates. (b) Establishes uniform standards for: (1) The sourcing of transactions to taxing jurisdictions; (2) The administration of exempt sales; and (3) Sales and use tax returns and remittances. (c) Provides a central, electronic registration system that allows a seller to register

to collect and remit sales and use taxes for all signatory states. (d) Provides that registration with the central, electronic registration system and

the collection of sales and use taxes in the signatory states will not be used as

a factor in determining whether the seller has nexus with a state for any tax. (e) Provides for reduction of the burdens of complying with local sales and use taxes

through the following: (1) Restricting variances between the state and local tax bases; (2) Requiring states to administer any sales and use taxes levied by local jurisdictions

within the state so that sellers collecting and remitting the taxes will not have

to register or file returns with, remit funds to or be subject to independent audits

from local taxing jurisdictions; (3) Restricting the frequency of changes in the local sales and use tax rates and

setting effective dates for the application of local jurisdictional boundary changes

to local sales and use taxes; and (4) Providing notice of changes in local sales and use tax rates and of changes in

the boundaries of local taxing jurisdictions. (f) Outlines any monetary allowances that are to be provided by the states to sellers

or certified service providers and allows for a joint public and private sector study

of the compliance cost on sellers and certified service providers to collect sales

and use taxes for state and local governments under various levels of complexity to

be completed by July 1, 2002. (g) Requires each state to certify compliance with the terms of the Agreement before

joining and to maintain compliance, under the laws of the member state, with all provisions

of the Agreement while a member. (h) Requires each state to adopt a uniform policy for certified service providers

that protects the privacy of consumers and maintains the confidentiality of tax information. (i) Provides for the appointment of an advisory council of private sector representatives

and an advisory council of nonmember state representatives to consult within the administration

of the Agreement. 2. The Agreement must require each member state to abide by the requirements set forth

in subsection 1.