Nevada § 361.159 - Exempt personal property subject to taxation if used in business conducted for profit; exceptions

§ 361.159. Exempt personal property subject to taxation if used in business conducted for profit; exceptions

1. Except as otherwise provided in subsection 3, when personal property, or a portion

of personal property, which for any reason is exempt from taxation is leased, loaned

or otherwise made available to and used by a natural person, association or corporation

in connection with a business conducted for profit, the leasehold interest, possessory

interest, beneficial interest or beneficial use of any such lessee or user of the

property is subject to taxation to the extent the: (a) Portion of the property leased or used; and (b) Percentage of time during the fiscal year that the property is leased to the lessee

or used by the user, in accordance with NRS 361.2275 , can be segregated and identified. The taxable value of the interest or use must be determined in the manner provided

in subsection 3 of NRS 361.227 and in accordance with NRS 361.2275 . 2. Taxes must be assessed to lessees or users of exempt personal property and collected

in the same manner as taxes assessed to owners of other personal property, except

that taxes due under this section do not become a lien against the personal property. When due, the taxes constitute a debt due from the lessee or user to the county

for which the taxes were assessed and, if unpaid, are recoverable by the county in

the proper court of the county. 3. The provisions of this section do not apply to personal property: (a) Used in vending stands operated by persons who are blind under the auspices of

the Bureau of Services to Persons Who Are Blind or Visually Impaired of the Rehabilitation

Division of the Department of Employment, Training and Rehabilitation. (b) Owned by a public airport and used for the purposes of the public airport.