Pursuant to NRS 360.2915
The
Department adopted regulations for the payment of any tax in installments over
a period not to exceed 12 months upon the execution of a written agreement by
the taxpayer and the Department. The Executive Director may, upon good cause
shown, allow a taxpayer to pay in installments over a period longer than 12
months.
See NAC 360.450 through NAC 360.464
The Nevada
Tax Commission (NTC) passed regulations to administer the processing of a
taxpayer’s request for payment of taxes in installments. The Department may enter into an installment
agreement under the following conditions:
(a) The
taxpayer submits accurate and complete information that the Department requires
to determine whether to enter into the agreement;
(b) The
taxpayer agrees in writing that he or she will comply with all applicable laws
and regulations of the Commission during
the period in which the agreement is in effect, including, without limitation,
reporting and payment requirements;
(c) The
taxpayer agrees in writing that the agreement may be terminated immediately if
the taxpayer fails timely to make any payment required by the agreement or
defaults in any other reporting or payment requirement;
(d) The
Department determines that as of the date on which the taxpayer requested to
enter into the agreement, the taxpayer is unable to pay the entire amount of
taxes, interest and penalties due for financial reasons;
(e) A personal guaranty must be signed by two
responsible persons in their individual capacities. If there is only one
responsible person, the agreement must contain the personal guaranty of that
person in his or her individual capacity. In lieu of or in addition to any
personal guaranty, the Department may require a personal guaranty of any other
person agreed upon by the taxpayer and the Department.
The
Department may deny a request to enter into an agreement if the taxpayer has
not complied with a previous agreement with the Department to pay taxes,
interest and penalties in installments.
Pursuant to NRS 360.473
The
Department will record personal and corporate and/or entity lien certificates
in the office of any county recorder to secure the tax debt.
Installment plans that are 36 months or less and under
$50,000 (tax only), the Installment Plan Request form is all that is required. Once submitted, your assigned Revenue Officer
will contact you to sign the formal payment agreement and personal guaranty.
Installment plans exceeding 36 months and over
$50,000 (tax only) will require the financial statements to be completed. If your business is closed, it is not
necessary to complete the Business Financial Statement.