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NV AB403
Bill
Status
6/3/2025
Primary Sponsor
Selena Torres-Fossett
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AI Summary
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Requires a ballot question at the November 3, 2026 General Election asking voters whether to exempt portable electronic trade-in allowances from Nevada's sales and use taxes
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Defines "portable electronic" as an electronic device that is portable in nature and its accessories
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Exemption applies only when the trade-in allowance is known and disclosed in full at the time of purchase, stated separately on the sales receipt, and the trade-in and purchase occur in a single, contemporaneous transaction
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If voters approve, the exemption takes effect January 1, 2027 and expires December 31, 2050, applying to all state and local sales/use taxes including the Local School Support Tax
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Mirrors existing sales tax treatment for used vehicle trade-ins, which are already exempt from sales tax on the trade-in allowance amount
Legislative Description
Proposes to exempt from sales and use taxes the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic. (BDR 32-565)
Last Action
(No further action taken.)
6/3/2025