SB 196
Authorizes a heavy equipment rental company to charge a recovery fee to offset taxes levied on certain heavy equipment. (BDR 32-19)
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- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Bill overview
This bill allows heavy equipment rental companies in Nevada to charge a recovery fee, up to 2%, to offset property taxes on the equipment they rent. Rental companies must clearly state the fee on invoices, hold the funds in a separate account, and use them exclusively to pay property taxes. The bill also exempts rentals to certain government entities and requires companies to report their recovery fee collections and related property tax payments to the Department of Taxation annually. It includes provisions for defining key terms and establishing penalties for fraudulent reporting.
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