Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401982 - Accounts for operating expense

Current through June 11, 2024
1. The account for
				drivers' supervision salaries must include the salaries paid to persons
				employed in supervising drivers of limousines. If only a portion of an
				employee's time is spent supervising, the appropriate percentage of his or her
				salary must be charged to the account for drivers' supervision
				salaries.
2. The account for
				drivers' wages and commissions must include all wages and commissions, other
				than vacation pay, that are paid to drivers.
3. The account for vacation pay must include
				all vacation pay paid to supervisors and drivers.
4. The account for payroll taxes must include
				all payroll taxes of supervisors and drivers, including, without limitation,
				payments made pursuant to the Federal Insurance Contributions Act and the
				Federal Unemployment Tax Act, unemployment compensation paid pursuant to
				chapter 612 of NRS and costs of workers' compensation insurance.
5. The account for payroll benefits must
				include the costs incurred by the company for welfare and pension benefits of
				its supervisors and drivers.
6. The
				account for limousine expenses must contain the following subaccounts:
(a) An account for fuel, which must include
				the cost of fuel used by limousines only. Accurate supporting records of the
				costs of the fuel and gallons used must be maintained and summarized on a
				monthly basis.
(b) An account for
				oil, which must include the cost of oil used by limousines only. Accurate
				supporting records of the costs of the oil and quarts used must be maintained
				on a monthly basis.
(c) An account
				for tires, which must include the cost of replacement tires.
(d) An account for repairs and maintenance,
				which must include the cost of outside labor, materials and any other expenses
				incurred in the repair and maintenance of limousines and integral equipment,
				other than tires, radios and telephonic equipment, attached to limousines,
				including, without limitation, batteries and accessories. The account must be
				charged for all limousine repairs and replacement parts purchased by a company
				for use in making repairs to limousines and integral equipment attached to
				limousines, but must not include items included in the account for tires
				described in paragraph (c), and the account for repairs and maintenance of
				dispatch equipment described in subsection 9 of NAC 706.401983.
(e) For insurance recoveries:
(1) Except as otherwise provided in this
				paragraph, an account for credits for insurance recoveries, which must be
				credited with all insurance recoveries from losses or damages sustained by
				limousines regardless of whether the recovery is from insurance companies or
				other persons. The account must be maintained with sufficient detail and
				description to allow ready identification, analysis and verification of all
				facts relevant to each entry.
(2)
				If a company obtains any services contemplated in an account for credits for
				insurance recoveries through a contract that provides for the payment of a
				fixed amount, the company must use an account for contract services in lieu of
				the account for credits for insurance recoveries. The account for credits for
				insurance recoveries must be maintained in such a manner as to allow ready
				identification, analysis and verification of all facts relevant to each class
				of expense as stated in the various accounts described in this subsection, and
				appropriately titled subaccounts may be used for this purpose.