Annual fee; penalty and interest.
1. Each taxicab motor carrier shall, before commencing the operation defined in NRS 706.126 and annually thereafter, pay to the Authority for each taxicab which it operates, including each taxicab it leases pursuant to NRS 706.473, a fee of not more than $75 as determined by a regulation of the Authority.
2. The fee provided in this section must be paid on or before January 1 of each year.
3. The initial fee must be reduced one-twelfth for each month which has elapsed since the beginning of the calendar year in which operation is begun.
4. Any person who fails to pay any fee on or before the date provided in this section shall pay a penalty of 10 percent of the amount of the fee plus interest on the amount of the fee at the rate of 1 percent per month or fraction of a month from the date the fee is due until the date of payment.
Last modified: February 26, 2006