"Annual Financial Report Form" - Nevada

Annual Financial Report Form is a legal document that was released by the Nevada Department of Business and Industry - a government authority operating within Nevada.

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INSTRUCTIONS FOR
TAXICAB COMPANY
ANNUAL FINANCIAL REPORTS
(In accordance with NRS 706.8829)
GENERAL INFORMATION
NOTE : The number in parentheses to the left of each item on the form corresponds to the
instruction number explaining that item.
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1. Before May 15
of each year, the certificate holder’s annual report must be submitted to
the Taxicab Authority in the form and detail prescribed by the Taxicab Authority in
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accordance with NRS 706.8828(1)(b).This report must be filed no later that May 15
of
the current year for the preceding calendar year ended December 31.
2. Retain a complete copy of this report (including instructions) in files for future reference.
3. Do not write on the back of the report pages; use attachments for any necessary schedules
or continuations.
4. This date refers to final date in your reporting year.
5. Failure to complete this report in the form and detail outlined in these instructions and by
statutory and regulatory direction will result in the rejection and subsequent return of the
report for corrections to affected areas.
STATEMENT OF OPERATIONS: (page 4 of 8)
6. Basis of Accounting: As indicated, the financial statements MUST be prepared using the
accrual basis of accounting. The accounting method to be followed is the method, as set
forth by Generally Accepted Accounting Principles required by the Financial Accounting
Standards Board and the American Institute of Certified Public Accountants. Generally,
accrual includes receivables and payables where cash does not.
SECTION “A” REVENUES:
7. (Subsection 1, Taxicab Revenue) Record the gross revenue generated from taxicab
service provided.
On the second line, record the Taxicab Authority trip charge.
(computed by multiplying number of trips by $.20) Subtract the second line from the first
to derive “Fare revenue to Company,” (Operating) which is reported on the third line.
8. (Subsection 2, Other Revenue) Record advertising revenues: Include 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.
9. The account for sundry operating revenues includes revenues derived from taxicab
operations not included in the operating or advertising accounts. Attach detail and
description or revenues reported on this line.
Rev. 04/09
INSTRUCTIONS FOR
TAXICAB COMPANY
ANNUAL FINANCIAL REPORTS
(In accordance with NRS 706.8829)
GENERAL INFORMATION
NOTE : The number in parentheses to the left of each item on the form corresponds to the
instruction number explaining that item.
th
1. Before May 15
of each year, the certificate holder’s annual report must be submitted to
the Taxicab Authority in the form and detail prescribed by the Taxicab Authority in
th
accordance with NRS 706.8828(1)(b).This report must be filed no later that May 15
of
the current year for the preceding calendar year ended December 31.
2. Retain a complete copy of this report (including instructions) in files for future reference.
3. Do not write on the back of the report pages; use attachments for any necessary schedules
or continuations.
4. This date refers to final date in your reporting year.
5. Failure to complete this report in the form and detail outlined in these instructions and by
statutory and regulatory direction will result in the rejection and subsequent return of the
report for corrections to affected areas.
STATEMENT OF OPERATIONS: (page 4 of 8)
6. Basis of Accounting: As indicated, the financial statements MUST be prepared using the
accrual basis of accounting. The accounting method to be followed is the method, as set
forth by Generally Accepted Accounting Principles required by the Financial Accounting
Standards Board and the American Institute of Certified Public Accountants. Generally,
accrual includes receivables and payables where cash does not.
SECTION “A” REVENUES:
7. (Subsection 1, Taxicab Revenue) Record the gross revenue generated from taxicab
service provided.
On the second line, record the Taxicab Authority trip charge.
(computed by multiplying number of trips by $.20) Subtract the second line from the first
to derive “Fare revenue to Company,” (Operating) which is reported on the third line.
8. (Subsection 2, Other Revenue) Record advertising revenues: Include 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.
9. The account for sundry operating revenues includes revenues derived from taxicab
operations not included in the operating or advertising accounts. Attach detail and
description or revenues reported on this line.
Rev. 04/09
SECTION “B” EXPENSES:
Expenses reported must be attributable to the operation of the taxicab company reporting.
Loans made, investment or venture capital taken from taxicab operations must be so
identified and must not add to or subtract from gains or losses reported by the company in
this annual report.
CAUTION:
a.)
Expenses delineated on this report were extrapolated from the general
categories “Operating Expenses” and “General and Administrative Expenses.”
Care must be taken to insure that line item expenses reported as individual entities
in this report are not duplicated elsewhere in this report.
b.) If companies owned by officers of the taxicab company reporting were paid fees
for consulting, vehicle maintenance, management fees, or any other services
relevant to the operation of the company reporting, provide a detailed listing of
those companies identifying the ownership of that/those companies along with the
amount paid on a separate schedule. (Moved from Section B 10. explanation for line
1. below, modified slightly requiring listings on a separate schedule.)
c.) Report revenue from taxicab operations which was diverted from operations in
the form of loans, investment or venture capital in Section C. Diverted Revenue.
(Moved from “SECTION “B” EXPENSES: above.)
________________________________________________________________________
Section “B” Expenses, Individual Line Item Instructions
10. Line 1. (Officer’s Salaries) Include any salaries, consulting fees, bonuses or other forms
of compensation paid to Officers, Sole Proprietors, Partners, their family members or
Corporations, or Sole Proprietorships, owned or controlled by them.
11. Line 2. (Driver’s Wages)
Include all wages and commissions paid to drivers.
12. Line 3. (Dispatch Salaries & Wages) Include all salaries and wages paid to dispatchers.
13. Line 4. (Shop and Garage Wages)
Include all salaries and wages paid to of shop and
garage employees.
14. Line 5. (Management Salaries/Wages) Include salaries and wages of management staff.
This includes driver, dispatch and shop & garage supervisory staff. If an individual is
also an Officer of the Company, only count that individuals salary or wage once, on line
one. Report the total salary or wages of these individuals in one lump sum on line 5.
15. Line 6. (Other Salaries & Wages) Include all salaries and wages paid to individuals not
included on lines 1 – 5.
16. Line 7. (General Administrative Expenses) Expenses recorded on this line are delineated
in NAC 706.825 – 706.843 and are too numerous and detailed for inclusion in these
instructions. Report expenses only if they are not reported elsewhere in this report.
DO NOT COUNT TRIP CHARGES AS EXPENSES ON THIS LINE!
Rev. 04/09
17. Line 8. (Shop and Garage Expenses) Supervisor and employee salaries/wages were
reported on lines 4 and 5. Do not include these expenses here. Include all other shop and
garage expenses on this line. If more than one company shares a facility, a percentage
derived from a computation based on the number of cars for each company may be used.
18. Line 9. (Dispatch Expense) Exclude salaries, wages, advertising, and depreciation of
equipment as these expenses related to dispatch are to be reported elsewhere in this
report. Include all other expenses related to dispatch. If more than one company shares a
dispatching service, a percentage derived from a computation based on the number of
medallions for each company may be used.
19. Line 10. (Operating Expenses) Expenses recorded on this line are delineated in NAC
706.816 and are too numerous and detailed for inclusion in these instructions. Report
expenses only if they are not reported elsewhere in this report.
20. Lines 11 & 12. (Gasoline and Diesel ) Enter the number of miles driven by taxicabs,
gallons of fuel used by taxicabs, and total cost of fuel on the lines associated with each
type of fuel. Other fuel expenses should be included on line 9, under operating expenses.
If more than one company shares in a bulk fuel distribution situation, percentages derived
through a computation based on mileage driven by each company may be reported for
each company.
21. Line 13. (Rent or Lease of Equipment) Include costs incurred by the company in the
rental or leasing of equipment not specifically provided for elsewhere in this report.
22. Line 14. (Rent or Lease of Building (s) Include all costs incurred by the company in the
rental or leasing of buildings, offices and other property devoted to the company’s
taxicab operations.
23. Line 15. (Maintenance) The account for repairs and maintenance includes all costs
incurred for outside labor, materials or replacement parts, in the maintenance of and
repairs made to the building, office and office furniture and equipment.
24. Line 16. (Depreciation, Taxicabs) Depreciation is to be stated on a STRAIGHT LINE
BASIS (NO EXCEPTIONS). This is to correspond with the Equipment Schedule for
Taxicabs, Column 6 total.
25. Line 17. (Depreciation, Other Equipment) Depreciation is to be stated on a STRAIGHT
LINE BASIS (NO EXCEPTIONS). This is to correspond with the Equipment Schedule
for Other Equipment, Column 6 total.
26. Line 18. (Advertising) All costs associated with advertising in telephone directories,
news papers, magazines on the internet etc.
27. Line 19. (Consulting /Professional Fees) Report all fees paid for consulting services. If
owners, Officers, or employees of the business are retained as consultants, report
information on line one (1) and include detailed information in the detailed listing
associated with line one. If any monies are paid to independent contractors for which no
payroll taxes are paid, include amounts on this line and attach a detailed listing including
the date of services, name of the company/individual, and the amount paid.
Rev. 04/09
28. Line 20. (Insurance, Taxicabs) Report insurance premiums paid for taxicabs.
29. Line 21. (Insurance, Other)
Report insurance premiums paid for other than taxicabs.
Attach a detailed listing of these insurance premiums.
30. Line 22. (Self Insurance Expense)
Excluding routine health insurance costs for
employees, report all costs associated with self insurance pertaining to business
operations. Include fees for investigations, litigation, settlements, etc.
31. Line 23. (Operating Taxes) Report the cost of all taxes incurred for property owned by
the company, devoted to the company’s taxicab operations.
32. Line 24. (Licenses) Report the costs of licenses such as registration fees, medallions,
motor carrier plates, business licenses etc., which are applicable specifically to the
operation of taxicabs.
33. Line 25. (Federal Income Taxes) Report federal income taxes actually paid by the
company.
34. Line 26. (Other Operating Expenses) Other operating expenses should include items
such as employee fringe benefits (group insurance, pension plans, etc.) and any other
expenses not specifically included in Line 1 through 25. If all items included here are
less then $500, indicate this with a note “All accounts here total to less than $500,” If this
is not the case, provide a detail of the items included by attaching a separate schedule
listing these items and the amounts of each.
35. Line 27. (Total for lines 1 – 26 of the Expenses Section)
36. Line 28. (Interest Expense) Record interest expense for interest paid on loans or notes
payable, whether short or long term.
37. Line 29. (Total Expenses) Record the Total for Expenses, line 1 – 28.
38. Line 30. (Net Income) (Gain or Loss) Subtract the total on line 29, Revenues, line 3,
Total Revenue from Taxicab Operations.
BALANCE SHEET: (Page 5 of 8)
The Balance Sheet is to be prepared for Total Company, to include all operations inside and
outside Nevada.
ASSETS:
39. All items included in Equipment, Property and Other Assets are to be shown at historical
cost. Revenue Equipment, Line 6, is to correspond to Equipment Schedule, Column 5
total, page 6 for taxicabs or 7 for other equipment. Accumulated depreciation is to be
shown on a STRAIGHT LINE BASIS.
Line 7 is to correspond with Equipment
Schedule, Column 7 total, page 6 or 7 as applicable.
40. Other assets should reflect any assets not specifically included in Lines 1 through 14.
Provide a schedule of items included here on an attached sheet of paper.
LIABILITIES AND EQUITY / CAPITAL:
Rev. 04/09
41. Amounts of long-term debt requiring payment within the twelve months after this
reporting period. Do not include these obligations with long-term debt on Line 23.
42. Long-term debt includes all obligations not coming due until a period of time beginning
twelve months after the end of this reporting period.
43. Line 24. Other liabilities should reflect any liabilities not specifically included in Line 18
through 23. Provide a schedule of items included here on an attached sheet of paper.
44. Complete Lines 26 through 29 and Line 38 if the business organization is a sole
proprietorship or partnership.
45. Line 26. This should agree with the Total Owner/Partnership Equity ending balance from
your previous year’s annual report. If adjustments have been made causing a difference,
a reconciliation must be included with your annual report.
46. Line 27. The Net Income (Loss) shown here should agree with the Net Income (Loss)
reported on Line 30, page 4 of 9.
47. Line 28. Amounts owner/partners have withdrawn from the enterprise. Do not include
any salaries included on page 4, Section B, line 1.
48. Complete lines 30 through 38 if the business organization is a corporation.
49. Line 33. Retained Earnings beginning balance should agree with the Retained Earning
ending balance from the previous year’s annual report, if the business is organized as a
Corporation. If the beginning does not equal the prior year’s ending balance as reported
on the previous year’s report, a reconciliation of adjustments must be provided.
50. Line 24. The Net Income (Loss) should be the same as Page 4 of 8, Line 30.
51. Line 17 and 38. Total Assets must equal the Total Liabilities plus Equity / Capital. Line
38 is to be completed by Sole Proprietorships, Partnerships, and Corporations.
EQUIPMENT SCHEDULES: NAC 706.672 Depreciable assets. 706.816 para. 8. (a) – (d),
706.819 para. 7 and 706.822 para. 7
52. Depreciation to be calculated on Straight Line Basis Only. This schedule is to reflect
all Revenue Equipment used. If space provided is not sufficient, make copies of the
schedule as needed, numbering additional consecutive pages 6 or 7 , a., b., c., etc., as
appropriate. Any schedules used in lieu of this schedule must contain the same detail
and the same information required on the equipment schedule. All equipment in use
during this reporting period must be shown on schedule even if fully depreciated.
53. The total of Column 6 should agree with the amount shown on page 3, line 16 for
taxicabs and page 3, line 17 for other equipment.
CERTIFICATE OF OATH: (page 8 of 8)
54. This page must be completed as indicated, signed by the appropriate authorized
person and notarized.
Rev. 04/09