Assembly Bill No. 656–Committee on Taxation

 

CHAPTER..........

 

AN ACT relating to the business tax; authorizing the annual payment of the tax under certain circumstances; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

   Section 1. NRS 364A.140 is hereby amended to read as follows:

   364A.140  1.  A tax is hereby imposed upon the privilege of

 conducting business in this state. [The] Except as otherwise provided in

 this section, the tax for each calendar quarter is due on the last day of the

 quarter and must be paid on or before the last day of the month

 immediately following the quarter on the basis of the total number of

 equivalent full-time employees employed by the business in the quarter.

   2.  If the tax required to be paid by a business for a calendar quarter

 pursuant to subsection 1 is less than $25, the business may submit a

 written request to the department to pay the tax annually for each

 calendar quarter of a fiscal year ending June 30. Upon approval of the

 request, the tax becomes due on the last day of the fiscal year and must

 be paid on or before the last day of July immediately following the fiscal

 year. If a business ceases operation before the end of the fiscal year, the

 tax becomes due on the date on which the business ceases its operation

 and must be paid on or before the last day of the month immediately

 following the calendar quarter in which the business ceases its

 operation. A business may continue to pay the tax annually until the

 department withdraws its approval for the annual payment. The

 department may withdraw its approval at any time if it determines that

 the tax due for any calendar quarter is at least $25.

   3.  The total number of equivalent full-time employees employed by

 [the] a business in [the] a quarter must be calculated pursuant to

NRS 364A.150.

   [3.] 4.  Except as otherwise provided in NRS 364A.152 and 364A.170,

 the amount of tax due [per quarter] for a business for each calendar

 quarter is $25 for each equivalent full-time employee employed by the

 business in the quarter.

   [4.] 5.  Each business shall file a return on a form prescribed by the

 department with each remittance of the tax. If the payment due is greater

 than $1,000, the payment must be made by direct deposit at a bank or

 credit union in which the state has an account, unless the department

 waives this requirement pursuant to regulations adopted by the

 commission. The return must include [a] :

   (a) If the tax is paid quarterly, a statement of the number of equivalent

 full-time employees employed by the business in the preceding quarter

 and any other information the department determines is necessary.

   [5.] (b) If the tax is paid annually, a statement of the number of

 equivalent full-time employees employed by the business for each

 calendar quarter of the preceding fiscal year and any other information

 the department determines is necessary.

   6.  The commission shall adopt regulations concerning the payment of

 the tax imposed pursuant to this section by direct deposit.

   Sec. 2.  NRS 364A.340 is hereby amended to read as follows:

   364A.340  A person who:

   1.  Is required to be licensed pursuant to chapter 624 of NRS; and

   2.  Contracts with a subcontractor who is required to be licensed

 pursuant to that chapter and to have a business license and pay the tax

 imposed by this chapter,

shall require proof that the subcontractor has a business license and has

 paid the tax imposed by this chapter before commencing payments to the

 subcontractor. For the purposes of this section, a subcontractor proves that

 he has a business license and has paid the tax imposed by this chapter by

 presenting a receipt for or other evidence that he made the last [quarterly]

 payment required pursuant to this chapter.

   Sec. 3.  This act becomes effective on July 1, 2002.

 

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