1.  A short-term lessor that wishes to impose an additional charge pursuant to NRS 482.3158 to recover its vehicle licensing costs must, not less than annually, make good faith estimates of:

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Terms Used In Nevada Revised Statutes 482.31583

  • Department: means the Department of Motor Vehicles. See Nevada Revised Statutes 481.015
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC

(a) Its vehicle licensing costs for the calendar year; and

(b) The charge that must be imposed in each lease to recover those costs.

2.  If the amount of money collected by a short-term lessor for the recovery of its vehicle licensing costs during a calendar year is different from the amount of those costs for that year, the short-term lessor shall:

(a) Retain the amount collected; and

(b) Adjust its estimate of its vehicle licensing costs and the charge that must be imposed on each lease to recover those costs for the immediately following calendar year by the amount of the difference.

3.  This section does not prevent a short-term lessor from making adjustments in the amount of its charge to recover its vehicle licensing costs during the calendar year.

4.  A short-term lessor shall annually report to the Department of Taxation:

(a) The amount of the short-term lessor’s vehicle licensing costs for the immediately preceding calendar year; and

(b) The amount of money collected by the short-term lessor for the recovery of its vehicle licensing costs for the immediately preceding calendar year.

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