NRS463.388. Determination of deficiency: Recomputation or estimate of taxes or fees; accrual of interest on unpaid taxes; offsetting overpayments; refund of excess.

      1.  If any person fails to make a report of the state license fees or taxes as required by this chapter, or if the Board is not satisfied with the report of the state license fees or taxes required to be paid to the State pursuant to this chapter by any person, the Board may compute and determine the amount required to be paid upon the basis of:

      (a) The facts contained in the report, if any;

      (b) An audit conducted by the Board;

      (c) An estimate of the amount of taxes or fees due pursuant to the provisions of this chapter;

      (d) Any information within its possession or that may come into its possession; or

      (e) Any combination of the methods described in paragraphs (a) to (d), inclusive.

      2.  Any interest on the tax unpaid by reason of a credit instrument that is the subject of a determination by the Board pursuant to NRS 463.371 accrues from the first day of the second month following the month in which the action or omission on which the determination is based occurred.

      3.  In making such a determination, the Board may offset overpayments and interest due thereon against underpayments and interest or penalties due thereon for the period of the audit.

      4.  If overpayments and interest thereon exceed underpayments, penalties and interest thereon, the excess must be refunded to the licensee except where otherwise expressly provided.

      (Added to NRS by 1977, 1403; A 1981, 1097, 1544; 1987, 397; 1997, 3503)