Nev. Admin. Code § 362.085 - Annual statement of gross yield and claimed net proceeds: Penalty for failure to file

If a taxpayer fails to file the statement required by NRS 362.110, the Department shall impose a penalty pursuant to NRS 362.230 in the following amounts:

1. For net proceeds or royalties not exceeding $5,000, the penalty is 10 percent of the net proceeds or royalties or $100, whichever is less.

2. For net proceeds or royalties greater than $5,000 but not exceeding $10,000, the penalty is $500.

3. For net proceeds or royalties greater than $10,000 but not exceeding $50,000, the penalty is $1,000.

4. For net proceeds or royalties greater than $50,000 but not exceeding $100,000, the penalty is $2,500.

5. For net proceeds or royalties of more than $100,000, the penalty is $5,000.

Notes

Nev. Admin. Code § 362.085

Added to NAC by Tax Comm'n, eff. 9-6-96; A by R161-05, 2-23-2006

NRS 360.090, 362.230