1. Each insurer and each formerly authorized insurer with respect to insurance transacted while an authorized insurer and property bondsman shall, on or before March 15 of each year, or within any reasonable extension of time therefor which the Executive Director of the Department of Taxation may for good cause have granted on or before that date, file with the Department of Taxation a report in such form as prescribed by the Executive Director of the Department of Taxation in cooperation with the Commissioner, showing total income derived from direct premiums written, including policy, membership and other fees and assessments, and all other considerations for insurance, bail or annuity contracts written during the next preceding calendar year on account of policies and contracts covering property, subjects or risks located, resident or to be performed in this State, with proper proportionate allocation of premiums as to such persons, property, subjects or risks in this State insured under policies and contracts covering persons, property, subjects or risks located or resident in more than one state, after deducting from the total income derived from direct premiums written:
(a) The amount of return premiums; and
(b) Dividends, savings and unabsorbed premium deposits returned to policyholders in cash or credited to their accounts.
2. The report must be:
(a) Accompanied by a payment made payable to the Department of Taxation in an amount equal to all of the tax required to be paid on net direct premiums and net direct considerations written during the preceding calendar year, less any quarterly payments made for the same period pursuant to NRS 680B.032; and
(b) Verified by the oath or affirmation of the insurer’s president, vice president, secretary, treasurer or manager.
(Added to NRS by 1971, 1594; A 1971, 1936; 1975, 463; 1983, 714; 1991, 2029; 1993, 1909; 1995, 469; 1997, 298, 299)
Structure Nevada Revised Statutes
NRS 680B.020 - State license exclusive; exception.
NRS 680B.025 - General tax on premiums: Definitions.
NRS 680B.027 - General tax on premiums: Rate; time for payment; prepayment; supplemental statements.
NRS 680B.030 - General tax on premiums: Annual report by insurer.
NRS 680B.033 - General tax on premiums: Computation of tax for factory mutuals.
NRS 680B.035 - General tax on premiums: Payments by domestic insurers.
NRS 680B.0353 - General tax on premiums: Rate and payments by certain risk retention groups.
NRS 680B.036 - General tax on premiums: Credit for policies of industrial insurance.
NRS 680B.0365 - General tax on premiums: Credit for qualified equity investments.
NRS 680B.037 - General tax on premiums: Tax in lieu of other taxes; exception.
NRS 680B.039 - General tax on premiums: Penalty.
NRS 680B.0395 - General tax on premiums: Exemption for authorized reinsurer.
NRS 680B.040 - Independently procured coverages: Report; tax; penalty.
NRS 680B.050 - General tax on premiums: Credit if home office or regional home office in Nevada.
NRS 680B.120 - Refund of overpayments of fees, charges or taxes.