NV SB196

Heavy equipment rental companies operating in Nevada may charge renters a recovery fee of up to 2% of the rental charge to offset property taxes levied on their rental equipment

Recovery fees must be separately stated on invoices, held in a separate account, and used exclusively to pay property taxes on the rental equipment

Rentals to federal, state, and local government entities are exempt from the recovery fee

Companies charging the fee must file annual reports with the Department of Taxation by August 15, detailing recovery fees collected and property taxes paid for the preceding fiscal year

Submitting false reports or maintaining fraudulent records with intent to defraud constitutes a gross misdemeanor; records must be preserved for 5 years