To determine the total amount paid to employees for services performed, the maximum amount paid to any one employee during a policy year shall be deemed to be $36,000.
1. To determine the total amount paid to employees for services performed, the maximum amount paid to any one employee during a policy year shall be deemed to be:
(a) Except as otherwise provided in subsection 2, for an employee who is employed by the State of Nevada or any agency or political subdivision of the State, $36,000.
(b) For an employee other than an employee described in paragraph (a), an amount equal to 12 times the maximum average monthly wage. On or before January 1 of each year, the Administrator shall establish the amount of the maximum average monthly wage to take effect on January 1 of that year.
2. The State of Nevada or any agency or political subdivision of the State may elect to be subject to the provisions of paragraph (b) of subsection 1 in accordance with any procedures that may be established by the Administrator for the making of such an election.
3. As used in this section, “maximum average monthly wage” means 150 percent of the state average weekly wage as most recently computed by the Employment Security Division of the Department of Employment, Training and Rehabilitation, multiplied by 4.33.