The Nevada Department of Taxation has adopted regulation which provides that certain personal property that is installed or attached non-permanently to real property is not assessed as real property for purposes of taxation. Guidelines are revised for determining whether an item is a fixture for the purposes of taxation.
A “trade fixture” is defined as an item of personal property that (1) is installed or attached non-permanently to real property by an owner or tenant for the purpose of conducting a business or trade and not for the enhancement of the real property to which it is installed or attached; and (2) has a unique identity and function that is related to the business or trade for which it is installed or attached and that is distinct from the real property to which it is installed or attached.
(NV Dept. of Taxation LCB File No. R068-12, effective September 14, 2012.)