Nev. Admin. Code § 706.401939

Current through November 25, 2024

Section 706.401939 - Depreciable assets

1. To ensure that all records for preparing financial reports which must be forwarded to the Authority are maintained on a comparable basis, the requirements regarding depreciation for reporting and regulatory purposes are set forth in this section.

2. The straight-line method is the only allowable method of computing annual depreciation charges to operations.

3. The following chart sets forth the service lives and salvage values of various depreciable assets. The requirements for depreciable assets as shown in the chart do not preclude a company from using longer or shorter service lives, higher or lower salvage values, or another method of calculating depreciation for any purposes other than recording amounts and reporting under the uniform system of accounts for limousine operations.

Category	Service Life	Salvage Value
Operating Depreciable Assets
Limousines	60 months	none
Dispatching Depreciable Assets
Radios
new	60 months	none
used	36 months	none
Telephonic equipment
new	60 months	none
used	36 months	none
Transmitters
new	60 months	none
used	36 months	none
Radio and telephonic test equipment
new	60 months	none
used	36 months	none
Shop and Garage Depreciable Assets
Automotive equipment
new	48 months	none
used	36 months	none
Shop equipment
new	84 months	none
used	36 months	none
Body shop equipment
new	84 months	none
used	36 months	none
General and Administrative Depreciable Assets
Office equipment
new	84 months	none
used	36 months	none
Furniture and fixtures
new	120 months	none
used	60 months	none
Office and buildings
original	360 months	none
additions	360 months	none
air-conditioning	84 months	none
Leasehold improvements	Length of lease	none
	(unless life of asset warrants shorter amortization period)

Nev. Admin. Code § 706.401939

Added to NAC by Transportation Serv. Auth. by R040-02, eff. 9-20-2002

NRS 706.167, 706.171