Sales and Use Tax Account: Remittances; deposits; transfers. [Effective January 1, 2006.]
1. All fees, taxes, interest and penalties imposed and all amounts of tax required to be paid to counties under this chapter must be paid to the Department in the form of remittances payable to the Department.
2. The Department shall deposit the payments in the State Treasury to the credit of the Sales and Use Tax Account in the State General Fund.
3. The State Controller, acting upon the collection data furnished by the Department, shall, each month, from the Sales and Use Tax Account in the State General Fund:
(a) Transfer .75 percent of all fees, taxes, interest and penalties collected in each county during the preceding month to the appropriate account in the State General Fund as compensation to the State for the costs of collecting the tax.
(b) Transfer .75 percent of all fees, taxes, interest and penalties collected during the preceding month from out-of-state businesses not maintaining a fixed place of business within this State to the appropriate account in the State General Fund as compensation to the State for the costs of collecting the tax.
(c) Determine for each county the amount of money equal to the fees, taxes, interest and penalties collected in the county pursuant to this chapter during the preceding month less the amount transferred pursuant to paragraph (a).
(d) Transfer the total amount of taxes collected pursuant to this chapter during the preceding month from out-of-state businesses not maintaining a fixed place of business within this State, less the amount transferred pursuant to paragraph (b) and excluding any amounts required to be remitted pursuant to NRS 360.850, to the State Distributive School Account in the State General Fund.
(e) Except as otherwise provided in NRS 387.528 or as required to carry out NRS 360.850, transfer the amount owed to each county to the Intergovernmental Fund and remit the money to the credit of the county school district fund.
Last modified: February 27, 2006