Assembly Bill No. 479-Assemblywoman de Braga

May 13, 1997
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Referred to Committee on Taxation

SUMMARY--Revises provisions governing computation of business tax. (BDR 32-811)

FISCAL NOTE: Effect on Local Government: No.
Effect on the State or on Industrial Insurance: Yes.

EXPLANATION - Matter in italics is new; matter in brackets [ ] is material to be omitted.

AN ACT relating to taxation; revising the provisions governing the computation of the business tax to exclude certain employees; and providing other matters properly relating thereto.

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

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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 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. The total number of equivalent full-time employees employed by the business in the quarter must be calculated pursuant to NRS 364A.150.
3. Except as otherwise provided in NRS 364A.152 and 364A.170, the amount of tax due per quarter for a business is $25 for each equivalent full-time employee in excess of five employed by the business in the quarter. No tax is due for a business which during the quarter employed five or less equivalent full-time employees. Any such business shall file reports at such times and in such form as is prescribed by the department for verification of the number of equivalent full-time employees of the business.
4. Each business that employs more than five equivalent full-time employees 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 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 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. The commission shall adopt regulations concerning the payment of the tax imposed pursuant to this section by direct deposit.
Sec. 2 This act becomes effective on July 1, 1997.

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