reglab/statecodes huggingface dataset:
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › General Provisions › Section 706.672 - Depreciable assets

Current through June 11, 2024
1. To insure that
			 all records for preparing financial reports forwarded to the Taxicab Authority
			 are maintained on a comparable basis, the requirements regarding depreciation
			 for reporting and regulatory purposes are shown in the following table:
(a) Method: The straight-line method is the
			 only allowable method of computing annual depreciation charges to
			 operations.
(b) Service Lives and
			 Salvage Values:
(1) Operating Depreciable Assets:
Category
Service Life
Salvage Value
Taxicabs
48
			 months
none
Air conditioners (if separate)
48 months
none
Fuel conversion kits
48 months
none
Taximeters, new
60
			 months
none
Taximeters, used
36
			 months
none
(2) Dispatching Depreciable Assets:
Category
Service Life
Salvage Value
New: Radios
60 months
none
Telephonic equipment
60 months
none
Transmitters
60 months
none
Category
Service
			 Life
Salvage Value
New: Radio and telephonic test equipment
60
			 months
none
Used: Radios
36
			 months
none
Telephonic equipment
36
			 months
none
Transmitters
36
			 months
none
Radio and telephonic test
			 equipment
36 months
none
(3) Shop and Garage Depreciable Assets:
Category
Service Life
Salvage Value
Automotive equipment-new
48 months
none
Automotive
			 equipment-used
36 months
none
Shop
			 equipment-new
84 months
none
Shop
			 equipment-used
36 months
none
Fuel
			 conversion plant-new
84 months
none
Fuel conversion plant-used
36 months
none
Body shop equipment-new
84 months
none
Body shop equipment-used
36 months
none
(4) General and
			 Administrative Depreciable Assets:
Category
Service
			 Life
Salvage Value
Office equipment-new
84 months
none
Office equipment-used
36 months
none
Furniture and fixtures-new
120 months
none
Furniture and fixtures-used
60 months
none
Office and buildings-original
360
			 months
none
Office and buildings-additions
360 months
none
Office and
			 buildings-air-conditioning
84 months
none
Leasehold improvements
Length of lease- unless life of asset
			 warrants a shorter amortization period
none
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › General Provisions › Section 706.675 - Gain or loss on dispositions

Current through June 11, 2024
1. Account 596,
			 Gain or Loss on Disposal of All Automotive Equipment, must include all gains or
			 losses as appropriate on the disposition of taxicabs of the company devoted to
			 its taxicab operations.
2. This
			 account must be maintained with sufficient detail and description, supported by
			 appropriate records, of each item included so as to permit ready
			 identification, analysis and verification of all facts relative to each asset
			 disposed of.
Taxicab Auth., Uniform System of
			 Accounts Reg. Gen. Instructions § 9, eff. 12-24-70; A 11-16-79-NAC A
			 10-13-88
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › General Provisions › Section 706.678 - Payroll and payroll costs

Current through June 11, 2024
1. Salaries, wages,
			 or other compensation, including reasonable salaries paid to officers and
			 proprietors, and payroll costs applicable to such compensation, must be
			 maintained on a functional division basis and charged as applicable to the
			 payroll and payroll cost accounts set up under the functional divisions in this
			 uniform system of accounts.
2. When
			 an employee, including the officer or proprietor, who normally performs
			 services in one functional division, performs services during the employee's
			 working period in other functional divisions, his or her compensation and
			 payroll costs for that period must be allocated on a time basis and charged to
			 the applicable and appropriate division accounts. Subsections 1 to 5,
			 inclusive, of NAC 706.822 describe the method applicable to payroll and payroll
			 costs of shop and garage employees for maintenance and repairs only.
3. Salaries, wages or other compensation,
			 including reasonable salaries paid to officers and proprietors and payroll
			 costs charged to operating revenue deductions must be supported by a monthly
			 "Payroll and Payroll Cost Distribution Summary" detailing all particulars
			 including FICA, FUTA, NUC and SIIS costs charged to each functional
			 account.
Taxicab Auth., Uniform System of
			 Accounts Reg. Gen. Instructions § 10, eff. 12-24-70; A 11-16-79-NAC A
			 10-13-88
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.681 - Current assets: Items not to be included

Current through June 11, 2024
Any item, the amount or
			 collectibility of which is not reasonably assured, must not be included in the
			 group of accounts designated as current assets, unless an adequate provision
			 for possible loss has been made.
Taxicab Auth., Uniform System of
			 Accounts Reg. part Current Assets, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.684 - Current assets: Account for cash on hand

Current through June 11, 2024
The account for cash on hand
			 includes all undeposited money, in cash or checks, as of the close of business
			 at the year's end. Proper credit must be made to the accounts for which this
			 money was received, such as taxicab fares, accounts receivable-trade,
			 advertising revenue, and payments on loans or accounts other than trade.
Taxicab Auth., Uniform System of
			 Accounts Reg. §§ 101 & 102, eff. 12-24-70; A and renumbered as
			 § 102, 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.687 - Current assets: Account for cash in banks

Current through June 11, 2024
The account for cash in banks
			 includes all money on deposit in a banking institution to the credit of the
			 company. Special cash deposits for payment of interest, dividends, payroll
			 taxes or other special purposes must be included in this account in separate
			 subdivisions which specify the purpose for which each special deposit is
			 made.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 103, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.690 - Current assets: Account for petty cash

Current through June 11, 2024
1. The account
			 for petty cash includes all money used to facilitate disbursements for small
			 expenditures and to avoid the drawing of many small checks. It also includes
			 any money used for check-cashing accommodations. Responsibility for this
			 account must be assigned to a designated officer or employee or to other
			 designated persons. Proper entries must be kept for complete identification and
			 verification.
2. This account must
			 not include any advances or loans to stockholders, directors, officers,
			 partners, employees or agents. Such advances or loans are to be included in the
			 accounts described in NAC 706.696.
Taxicab Auth., Uniform System of
			 Accounts Reg. §§ 101 & 102, eff. 12-24-70; A and renumbered as
			 § 101, 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.693 - Current assets: Account for accounts receivable-trade

Current through June 11, 2024
1. The account for accounts receivable-trade
			 includes any amounts that may be due the company arising from or attributable
			 to the company's taxicab operations, for which payment has not been
			 received.
2. Records must be
			 maintained, showing the balances due from each person or company. The sum of
			 these individual balances must be in agreement with the total of this
			 account.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 120, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.696 - Current assets: Accounts for employees' and officers' accounts receivable

Current through June 11, 2024
1. The account for
			 accounts receivable-employees includes any amounts that may be due the company
			 from its employees, exclusive of officers, for which payment has not been
			 received.
2. The account for
			 accounts receivable-officers includes any amounts that may be due the company
			 from its officers, proprietors or partners, for which payment has not been
			 received.
Taxicab Auth., Uniform System of
			 Accounts Reg. §§ 123 & 124, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.699 - Current assets: Account for notes receivable

Current through June 11, 2024
1. The
			 account for notes receivable includes the book cost, not includable elsewhere,
			 of all collectible obligations in the form of notes, drafts and similar
			 evidences of money due the company.
2. Complete information must be maintained in
			 this account for each note, including the maker of the note, payor, payee, date
			 of issuance, date of maturity, interest rate and penalties. This information
			 must clearly indicate the amounts due from each person or company.
3. The face amount of notes receivable
			 discounted, sold or transferred without releasing the company as endorser must
			 be credited to a separate subdivision of this account and appropriate
			 disclosure must be made in financial statements of any contingent liability
			 arising from those transactions.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 140, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.702 - Current assets: Account for other accounts receivable

Current through June 11, 2024
The account for other
			 accounts receivable includes any amounts that may be due the company that are
			 not attributable to the company's taxicab operations, for which payment has not
			 been received. This account must clearly indicate how much is due from each
			 company or person.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 122, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.705 - Current assets: Account for bad debts

Current through June 11, 2024
Provision for any actual or probable losses
			 under the accounts described in NAC 706.693 to 706.702, inclusive, must be
			 credited to the account for bad debts with a corresponding charge to the
			 account for bad debts described in subsection 5 of NAC 706.831 or the account
			 for miscellaneous other expenses described in subsection 4 of NAC
			 706.852.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 121, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.708 - Current assets: Account for inventory supplies

Current through June 11, 2024
1. The
			 account for inventory supplies includes the inventories of all gasoline and
			 other fuel in storage tanks at the end of the calendar year, using the lower of
			 cost or market method to compute value.
2. This account must also include the
			 inventories at the end of the calendar year of all oil on hand as well as
			 tires, batteries, radio parts, shop parts and small tools, computing value at
			 the lower of cost or market.
3.
			 Appropriately entitled subaccounts must be maintained for materials and
			 supplies related to each of the functional divisions maintained by the company,
			 for example, operating, dispatching, shop and garage and general.
4. The differences between the opening
			 inventories at the beginning of the calendar year and the year-end inventories
			 must be recorded as adjustments to the following accounts for operating expense
			 described in subsection 6 of NAC 706.816:
(a)
			 Account for fuel.
(b) Account for
			 oil.
(c) Account for
			 tires.
(d) Account for repairs and
			 maintenance.
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.711 - Current assets: Account for prepaid expenses

Current through June 11, 2024
1. The
			 account for prepaid expenses includes amounts representing prepayments, for
			 example, insurance, rents, taxes and other items, and must be maintained and
			 supported in such manner as to disclose the amount of each class of
			 prepayments. Subaccounts may be maintained for this purpose.
2. Where prepayments are made, this account
			 must be charged with the full amount of prepayment and subsequently credited
			 with each portion that will ratably distribute the prepayment to expense over
			 the benefited period. A portion ratably credited to prepaid expense must be
			 charged to the appropriate functional accounts for operating expense.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 190, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.714 - Current assets: Account for refundable deposits

Current through June 11, 2024
The account for refundable
			 deposits includes all refundable deposits with federal, state, county or
			 municipal authorities as well as fiscal agents or others for the fulfillment of
			 obligations.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 191, eff. 12-24-70
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.717 - Current assets: Account for miscellaneous current assets

Current through June 11, 2024
The
			 account for miscellaneous current assets includes the book cost of all other
			 current assets not provided for elsewhere, appropriately described and
			 supported so as to show the nature of each asset included in the
			 account.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 192, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.720 - Accounts for fixed assets

Current through June 11, 2024
1. Accounts for
			 fixed assets include the original cost of property owned by the company which
			 is devoted to the company's taxicab operations, having an estimated service
			 life of more than 1 year and a cost of $100 or more.
2. The cost of additions to and improvements
			 of property leased from others, which are also includable in these accounts,
			 must be recorded in subdivisions separate and distinct from those relating to
			 owned property. Such additions or improvements must be included in the account
			 for leasehold improvements described in NAC 706.729.
3. When the consideration given for property
			 is other than cash, the value of the consideration must be determined on a cash
			 basis. In the entry recording such a transaction, the actual consideration must
			 be properly described to make it easily identifiable. The company must be
			 prepared to furnish the Authority with details regarding the method used by the
			 company to determine the cash value.
4. When property is purchased under a plan
			 involving deferred payments, no charge may be made to the asset accounts for
			 interest, insurance or other expenditures occasioned solely by that form of
			 payment.
5. Upon a disposition or
			 abandonment of any of these assets, the applicable asset account must be
			 credited in the amount at which the asset was recorded and the amount must be
			 debited as appropriate to the account for gain or loss on disposal of
			 automotive equipment described in subsection 14 of NAC 706.816, or the account
			 for gain on sale of assets, except automotive equipment described in subsection
			 4 of NAC 706.849.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 200, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.723 - Fixed assets: Land account

Current through June 11, 2024
1. The land account
			 includes the cost of all land devoted to the company's taxicab operations. In
			 addition to the original price of the land, this account must include all costs
			 incidental to the purchase when acquired, if paid by the purchaser, such as
			 agent's commissions, escrow fees, title fees, liens satisfied to clear title
			 and prorated tax expense.
2. Where
			 special assessments for public improvements provide for deferred payments, the
			 full amount of the assessments must be charged to the appropriate land account
			 and the unpaid balance must be carried in an appropriate liability account.
			 Interest on unpaid balances must be charged to the interest account. If any
			 part of the cost of public improvement is included in the general tax levy,
			 that amount must be charged to the appropriate tax account and not to this
			 account.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 201, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.726 - Fixed assets: Buildings account

Current through June 11, 2024
The buildings account includes the cost of all
			 buildings devoted to the company's taxicab operations. The cost of buildings
			 includes the cost of fixtures attached to and forming a permanent part of the
			 building and which cannot be removed without cutting into the wall, ceilings or
			 floors, or without in some way impairing the buildings, such as plumbing pipes
			 and fixtures, heating and air-conditioning apparatus, electric wiring and
			 fixtures, elevators, cranes and hoists and the machinery for operating
			 them.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 205, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.729 - Fixed assets: Account for leasehold improvements

Current through June 11, 2024
The account for leasehold
			 improvements includes the cost of all additions to and improvements of property
			 leased from others. All entries must be made with sufficient detail to permit
			 ready identification.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 231, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.732 - Fixed assets: Account for shop and garage equipment

Current through June 11, 2024
The account for shop and garage
			 equipment includes the cost of all hoists, electric motors, lathes, drill
			 presses, air compressor equipment, tire changing equipment, wheel alignment
			 equipment, welding sets, work benches and expensive special purpose tools which
			 cost over $100. This account must not include any hand or other portable tools
			 which:
1. Are likely to be lost or
			 stolen;
2. Have a value of $100 or
			 less; or
3. Have a short life or
			 period of use.
Such items must be charged as appropriate to the account
			 for repairs and maintenance described in paragraph (d) of subsection 6 of NAC
			 706.816 or the account for repairs and maintenance of shop and garage equipment
			 described in subsection 11 of NAC 706.822.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 209, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.735 - Fixed assets: Account for furniture and office equipment

Current through June 11, 2024
The account for furniture
			 and office equipment includes the cost of all office furniture, business
			 machines and equipment not permanently attached to the building, which are used
			 in the operation of a taxicab company.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 207, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.738 - Fixed assets: Taxicab account

Current through June 11, 2024
The taxicab account includes the cost of all
			 taxicabs devoted to the company's operations, including the cost of painting
			 and the first set of accessory equipment necessary to fit the taxicab for
			 service, except that air conditioners, taximeters, fuel conversion kits, if
			 applicable, and radio and telephonic equipment are included in the accounts
			 described in NAC 706.744, 706.747, 706.750 and 706.756, respectively, and are
			 not to be included in this account as part of the cost of taxicabs.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 211, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.741 - Fixed assets: Account for other automotive equipment

Current through June 11, 2024
The account for other automotive
			 equipment includes the cost of all motor vehicles, other than taxicabs, which
			 are used in connection with the operations of a taxicab company.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 213, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.744 - Fixed assets: Account for air conditioners

Current through June 11, 2024
The account for air conditioners includes
			 the cost of any air conditioner that is added to a taxicab, and is not part of
			 the original cost of the taxicab as included in the taxicab account described
			 in NAC 706.738. The cost of such an air conditioner also includes the cost of
			 its original installation in the taxicab, and the cost of its necessary
			 accessories.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 214, eff. 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.747 - Fixed assets: Taximeter account

Current through June 11, 2024
The taximeter account includes the cost of each
			 taximeter owned by the company and devoted to the company's taxicab operations,
			 including the cost of its original installation on a taxicab and its
			 accessories. This account does not include replacement parts, repairs or extra
			 gears. Those items must be charged directly to the account for repairs and
			 maintenance described in paragraph (d) of subsection 6 of NAC 706.816.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 215, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.750 - Fixed assets: Account for fuel conversion kits

Current through June 11, 2024
The account for fuel conversion
			 kits includes the cost of each fuel conversion kit including the cost of its
			 original installation on a taxicab and any necessary accessories. This account
			 must be used by any taxicab company having a fuel conversion plant for the
			 purpose of converting natural gas to liquid gas for use in the operation of any
			 of its taxicabs.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 216, eff. 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.753 - Fixed assets: Account for fuel conversion plants

Current through June 11, 2024
The account for fuel conversion
			 plants includes the cost of setting up a fuel conversion plant in order to
			 convert natural gas to a liquid state for use as fuel in the operation of
			 taxicabs. Included as part of this cost are the costs of:
1. Installing any required cement
			 slabs;
2. All required plumbing and
			 electrical work;
3. All piping gas
			 lines compressors, including freight, and pumping stations; and
4. The labor cost of all such
			 installations.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 225, eff. 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.756 - Fixed assets: Account for radio and telephonic equipment

Current through June 11, 2024
The account for radio and
			 telephonic equipment includes the cost of all radio and telephonic equipment
			 owned by the company and devoted to the company's taxicab operations, including
			 the cost of original installation and any necessary accessories. The cost of
			 any repairs and replacement of any parts must not be included in this account
			 but must be recorded as an expense in the account for repairs and maintenance
			 of dispatch equipment described in subsection 9 of NAC 706.819.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 217, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.759 - Account for other fixed assets

Current through June 11, 2024
The account for other fixed assets includes the
			 cost of all tangible property and equipment devoted to the company's taxicab
			 operations for which a separate account has not been provided. All entries in
			 this account must be made with sufficient detail and description recorded so as
			 to permit ready identification, analysis and verification of all relevant
			 facts.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 219, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.762 - Account for total depreciation and amortization allowance

Current through June 11, 2024
1. For the purpose of general ledgers, the
			 account for total depreciation and amortization allowance must be treated as a
			 single composite provision for depreciation and amortization. For the purpose
			 of analysis, each company must maintain subaccounts in which this account is
			 segregated according to the same account classification used in the fixed asset
			 accounts.
2. This account must be
			 credited with the amounts charged to the functional accounts for depreciation
			 and amortization expense.
3. At the
			 time of retirement or disposal of a depreciable or amortizable fixed asset,
			 this account must be charged in the amount of the total accumulated provision
			 related to the asset up to the date of retirement or disposal, and the accounts
			 described in subsection 14 of NAC 706.816, subsection 4 of NAC 706.849 and
			 subsection 2 of NAC 706.852 must be credited or charged as appropriate. These
			 entries must be recorded with sufficient detail and description to permit ready
			 identification, analysis and verification of all relevant facts.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 240, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.765 - Accounts for organizational expense and deferred charges

Current through June 11, 2024
1. The account for organizational expense
			 includes the original cost of organizing the company.
2. The account for deferred charges includes
			 all debits not provided for elsewhere, such as unamortized debt discount and
			 expense, unusual or extraordinary expenses, not included in other accounts,
			 which are in process of amortization and items, the proper final disposition of
			 which, is uncertain. The records supporting the entries to this account must
			 contain sufficient detail and description to permit ready identification,
			 analysis and verification of all relevant facts.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 260, eff. 12-24-70; A 11-6-79; § 270, eff.
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.768 - Accounts for other assets

Current through June 11, 2024
1. The investment
			 account includes the book cost of investments made for a period or periods to
			 exceed 1 year in duration in securities, notes, mortgages and other items, of
			 both associated and nonassociated companies. This account must also include the
			 offsetting entry to the recording of amortization of discount or premium on
			 interest-bearing investments when such interest-bearing investments were
			 purchased for less or more than face value. Information to be included for each
			 note or security must include the type of note or security, maker, payee,
			 payor, date of issuance, certificate number, date of maturity, interest or
			 dividend rate, face value and other identifying information. Securities owned
			 and pledged must be included in this account and a complete record of
			 securities pledged must be maintained. The company's records must bear
			 sufficient detail and description, including the use of subaccounts where
			 necessary, to permit ready identification, analysis and verification of all
			 relevant facts for each class of investment, for example, associated or
			 nonassociated company, note mortgage, bonds, stocks or security
			 pledged.
2. If a company is
			 acquired at a cost in excess of its book value, the excess must be charged to
			 the goodwill account.
3. An account
			 for payroll clearing may be used by companies desiring such an account. If
			 used, the account must be cleared monthly.
Taxicab Auth., Uniform System of
			 Accounts Reg. §§ 281-290, eff. 12-24-70
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.771 - Current liabilities

Current through June 11, 2024
Current and accrued liabilities are obligations
			 which have matured or become due within 1 year after the date thereof. Items
			 such as bonds or receivers' certificates must not be entered in a current and
			 accrued liabilities account and must be classified as long-term liabilities
			 until the date of maturity.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 300, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.774 - Accounts for notes payable

Current through June 11, 2024
1. The account for
			 short-term notes payable includes amounts owing on notes, drafts, acceptances
			 or other similar evidences of indebtedness which are payable on demand or
			 within 1 year from the date of issuance or acceptance, including interest. This
			 account must also include, under appropriate subaccounts, notes, drafts,
			 acceptances or other similar evidences of indebtedness which are payable to
			 associated companies on demand or within 1 year from the date of issuance or
			 acceptance, including interest. The information to be contained in this account
			 must include the face value of the note, date made, date due, interest rate,
			 payee and other identifying information.
2. For reporting purposes, the current
			 portion of the account for long-term notes payable represents the portion of a
			 long-term note and the interest on it which is due within 1 year after the
			 reporting date.
Taxicab Auth., Uniform System of
			 Accounts Reg. §§ 301 & 302, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.777 - Accounts for accounts payable, open accident liabilities and contracts payable

Current through June 11, 2024
1. The account for
			 accounts payable includes all amounts for goods and services received by the
			 company, payable within 1 year from the date thereof and which have not been
			 paid.
2. The account for open
			 accident liabilities includes a provision for the amounts set aside by
			 self-insured companies for the actual or estimated liabilities from accidents
			 not totally covered by insurance policies.
3. For reporting purposes, that portion of
			 any contract payable that becomes due within 1 year from the date thereof and
			 which has not been paid must be included in the account for contracts
			 payable.
Taxicab Auth., Uniform System of
			 Accounts Reg. §§ 305-310, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.780 - Accounts for accrued salary, wages and vacation pay

Current through June 11, 2024
1. The
			 account for accrued salaries and wages includes the gross amount of salaries or
			 wages earned but not paid at the end of the month.
2. The account for accrued vacation pay
			 includes the amount of accrued vacation pay owed at the end of the
			 month.
Taxicab Auth., Uniform System of
			 Accounts Reg. §§ 315 & 316, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.783 - Accounts for payroll taxes withheld and accrued and accrued payroll benefits

Current through June 11, 2024
1. The account for payroll taxes withheld and
			 accrued includes all amounts withheld from employees' wages or salaries that
			 are payable to a governmental agency and any accrued liabilities of the company
			 owing to a governmental agency, the liability for which was determined on the
			 basis of a percentage of payroll. This account must be maintained so as to
			 permit ready identification of the company's liability to each governmental
			 agency.
2. The account for accrued
			 payroll benefits:
(a) Includes all amounts
			 withheld from employee wages or salaries that are payable to other than a
			 governmental agency at the end of each month.
(b) Includes all liabilities incurred by the
			 company that are payable to other than a governmental agency, the liability for
			 which arises as a result of having employees.
(c) Must be maintained to permit ready
			 identification for such liability as between the employees and the company and
			 the class of liability accrued, for example, welfare, pension contributions and
			 other contributions.
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.786 - Account for accrued taxes and licenses

Current through June 11, 2024
1. The account for
			 accrued taxes and licenses must be credited with the amount of taxes accrued
			 during the accounting period, except for payroll taxes and federal income
			 taxes. See subsection 1 of NAC 706.783 and NAC 706.801, respectively.
			 Corresponding debits must be made to the appropriate accounts for the charges.
			 See subsection 11 of NAC 706.816 and NAC 706.828. Such credits may be based on
			 estimates, but from time to time during the year as the facts become known, the
			 amount of the periodic credits must be adjusted to include as nearly as can be
			 determined in each year the applicable taxes.
2. If accruals for taxes are found to be
			 insufficient or excessive, corrections must be made through current tax
			 accruals. Accruals for taxes must be based upon the net amounts payable after
			 credit for any discounts and must not include any amounts for interest on the
			 deficiencies or refunds. Interest received on refunds must be credited to the
			 account for interest earned described in subsection 1 of NAC 706.849 and
			 interest paid on deficiencies must be charged to the account for interest
			 expense described in subsection 1 of NAC 706.852. Penalties must be charged to
			 the account for miscellaneous other expenses described in subsection 4 of NAC
			 706.852.
3. The records supporting
			 the entries to this account must be kept to show for each class of taxes
			 included, the amount accrued, the basis for the accrual, the accounts charged
			 and the amount of tax paid.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 322, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.789 - Account for accrued interest

Current through June 11, 2024
The account for accrued interest includes the
			 amount of interest accrued but not due on all liabilities of the company except
			 interest added to the principal of the debt on which incurred, for example,
			 contracts payable. Supporting records must be maintained to show the amount of
			 interest accrued on each obligation.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 323, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.792 - Account for other current liabilities

Current through June 11, 2024
The account for other current liabilities
			 includes the balances in all open accounts representing current liabilities not
			 specifically provided for in the accounts described in NAC 706.774 to 706.789,
			 inclusive, and covers items such as unpaid matured interest and interest on
			 unpaid, matured long-term debts. The records supporting the entries to this
			 account must be recorded with sufficient description and detail to permit ready
			 identification, analysis and verification of all relevant facts.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 324, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.795 - Account for fees payable

Current through June 11, 2024
Fees collected for the Taxicab Authority
			 through passenger fares must be credited to the account for fees payable rather
			 than the account for taxicab fares described in subsection 1 of NAC 706.813.
			 Trip fee payments to the Taxicab Authority must be charged to this
			 account.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 325, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.798 - Accounts for deferred credits, dividends payable and mortgage payable

Current through June 11, 2024
1. The account for deferred credits includes
			 advance billings and receipts and other deferred credit items, not provided for
			 elsewhere, including amounts which cannot be entirely cleared or disposed of
			 until additional information has been received. The records supporting the
			 entries to this account must be recorded with sufficient detail and description
			 to permit ready identification, analysis and verification of all relevant
			 facts.
2. The account for dividends
			 payable includes the amount of dividends which have been declared but not paid.
			 Dividends must be credited to this account when they become a
			 liability.
3. The current portion
			 of the account for mortgage payable includes the portion of any mortgage
			 payments including interest that becomes due and is unpaid within 1 year after
			 the reporting date.
Taxicab Auth., Uniform System of
			 Accounts Reg. §§ 330, 333 & 335, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.801 - Account for accrued federal income taxes

Current through June 11, 2024
1. The account
			 for accrued federal income taxes includes the amount of federal income taxes
			 accrued during the accounting period. Concurrent charges for tax accruals must
			 be made to the account for federal income taxes on earnings described in
			 subsection 2 of NAC 706.855. As the exact amount of taxes becomes known, the
			 current tax accruals must be adjusted accordingly. Payments of income taxes
			 must be charged to this account so that it may reflect as accurately as
			 possible the actual taxes payable.
2. "Actual taxes payable" is the amount of
			 tax calculated for income tax purposes including those expenses or deductions
			 not allowable as operating revenue deductions for regulatory purposes, but
			 allowed or allowable as deductions for federal income tax purposes taken by the
			 company, as elected by the company or as required by law, in computing its
			 income tax, that is, by accelerated depreciation, additional first-year
			 depreciation, interest expense, donations, nonrecurring or extraordinary
			 charges, investment credit and other such items.
3. Accruals for federal income taxes must not
			 include any amounts for interest or penalties on tax deficiencies, payments or
			 refunds. Interest received on refunds must be credited to the account for
			 interest earned described in subsection 1 of NAC 706.849 and interest paid on
			 deficiencies must be charged to the account for interest expense described in
			 subsection 1 of NAC 706.852. Penalties must be charged to the account for
			 miscellaneous other expenses described in subsection 4 of NAC
			 706.852.
4. Each entry credited to
			 this account must be supported by work papers or records showing in detail how
			 the income tax liability was determined and the necessary accrual.
Taxicab Auth., Uniform System of
			 Accounts Reg. § 332, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.804 - Accounts for long-term liabilities

Current through June 11, 2024
1. The account for
			 total long-term notes payable includes the face value of all notes which, by
			 the terms of its creation, matures more than 1 year after the date of issue or
			 assumption. This account also includes the face value of notes payable to
			 associated companies which are not subject to current settlement.
2. The account for total long-term contracts
			 payable includes the face value of all installment contracts which, by the
			 terms of its creation, matures more than 1 year from the date of issue or
			 assumption.
3. The account for
			 total mortgages payable includes the face value of all bonds and mortgages
			 which, by the terms of their creation, mature more than 1 year from date of
			 issue.
4. The account for partner
			 loans includes loans or advances made to the company by its partners.
5. The stockholder's loan account includes
			 loans or advances made to the company from its officers, stockholders or
			 directors.
6. The account for other
			 long-term liabilities includes the balance of all long-term liabilities of over
			 1 year, not specifically provided for in the accounts described in subsections
			 1 to 5, inclusive. The records supporting the entries to this account must be
			 recorded with sufficient description and detail as to permit ready
			 identification, analysis and verification of all relevant facts.
Taxicab Auth., Uniform System of
			 Accounts Reg. §§ 341-348, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.807 - Incorporated companies: Net worth

Current through June 11, 2024
Incorporated companies must keep the following
			 accounts as a record of their net worth:
1. An account for common stock.
2. Accounts for preferred stock must include
			 the par value or the stated value of stock without par value, if such stock has
			 a stated value and if not, the cash value of the consideration received for
			 such nonpar stock, of each class of capital stock actually issued, including
			 the par or stated value of such capital stock in the account for reacquired,
			 treasury, capital stock described in subsection 6. When the actual cash value
			 of the consideration received is more or less than the par or stated value of
			 any stock having a par or stated value, the difference must be credited or
			 debited, as the case may be, to the premium or discount account for the
			 particular class and series of stock. When capital stock is retired, these
			 accounts must be charged with the amount at which such stock is carried. A
			 separate ledger account, with a descriptive title must be maintained for each
			 class and series of stock. The supporting records must show the shares
			 nominally issued, actually issued, and nominally outstanding.
3. The account for other paid-in capital
			 includes the balance of all other credits for paid-in capital not included in
			 the capital stock accounts and must be kept so as to show the source of the
			 credits included for each class and series of stock issued. The items in the
			 account must indicate:
(a) Premium received
			 on original issues of capital stock.
(b) Donations received from stockholders
			 consisting of capital stocks or reduction of debt of the company and the cash
			 value of other assets received as a donation.
(c) Reduction in par or stated value of
			 capital stock.
(d) Gain on resale
			 or cancellation of reacquired capital stock.
(e) Miscellaneous paid-in capital.
Premium on capital stock must not be set off against expenses. A premium
			 received on an issue of a certain class or series of stock must not be set off
			 against expense of another issue of the same class or series.
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR TAXICAB COMPANIES › Accounts › Section 706.813 - Accounts for operating revenue

Current through June 11, 2024
1. The account for
			 taxicab fares includes all revenues derived from the transportation of
			 passengers, their luggage and packages except for fees prescribed by the
			 Authority. When the Authority's fees are collected they are considered a
			 liability, as provided in NAC 706.795.
2. The account for advertising revenues
			 includes all revenues derived from others for advertising in or on taxicabs,
			 taxicab stands, offices or any other form of advertising from which revenue may
			 be derived.
3. The account for
			 sundry operating revenues includes revenues derived from taxicab operations not
			 included in any of the revenue accounts in subsection 1 or 2. This account also
			 includes all other revenue not provided for elsewhere in NAC 706.558 to
			 706.855, inclusive, if the costs or expenses associated with the earning of
			 such revenues are not or cannot be separately classified or accounted for. This
			 account must be maintained in such detail and description to permit ready
			 identification, analysis and verification of all relevant facts.
Taxicab Auth., Uniform System of
			 Accounts Reg. §§ 401-420, eff. 12-24-70; A
			 11-16-79
NRS
			 706.8818,
			 706.8829