Interest on overpayments; disallowance of interest.
1. Except as otherwise provided in this section and NRS 360.320, interest must be paid upon any overpayment of any amount of the taxes imposed by this chapter at the rate of 0.5 percent per month, or fraction thereof, from the last day of the calendar month following the calendar quarter for which the overpayment was made. No refund or credit may be made of any interest imposed upon the person making the overpayment with respect to the amount being refunded or credited.
2. The interest must be paid:
(a) In the case of a refund, to the last day of the calendar month following the date upon which the person making the overpayment, if he has not already filed a claim, is notified by the Department that a claim may be filed or the date upon which the claim is certified to the State Board of Examiners, whichever is earlier.
(b) In the case of a credit, to the same date as that to which interest is computed on the tax or the amount against which the credit is applied.
3. If the Department determines that any overpayment has been made intentionally or by reason of carelessness, the Department shall not allow any interest on the overpayment.
Last modified: February 27, 2006