Nevada § 374.7261 - Application and calculation of tax on property purchased for certain purposes related to aircraft and components of aircraft

property purchased for use in owning, operating, manufacturing, servicing, maintaining,

testing, repairing, overhauling or assembling an aircraft or any component of an aircraft

as follows: (1) If the tangible personal property is purchased by a business for use in the performance

of a contract, the business is deemed the consumer of the tangible personal property

and the sales tax must be paid by the business on the sales price of the tangible

personal property to the business. (2) If the tangible personal property is purchased by a business for use in the performance

of a contract and the sales tax is not paid because the vendor did not have a valid

seller's permit, or because the resale certificate was properly presented, or for

any other reason, the use tax must be imposed based on the sales price of the tangible

personal property to the business. (b) Any tangible personal property purchased by a business for use in the performance

of a contract is deemed to have been purchased for use in owning, operating, manufacturing,

servicing, maintaining, testing, repairing, overhauling or assembling an aircraft

or any component of an aircraft. 2. As used in this section: (a) “ Aircraft ” has the meaning ascribed to it in paragraph (a) of subsection 12 of NRS 360.753 . (b) “ Component of an aircraft ” has the meaning ascribed to it in paragraph (b) of subsection 12 of NRS 360.753 . (c) “ Contract ” means any contract for the ownership, operation, manufacture, service, maintenance,

testing, repair, overhaul or assembly of an aircraft or any component of an aircraft

entered into by a business.