1. Personal property in transit through this State is personal property:
(a) Which is moving in interstate commerce through or over the territory of the State of Nevada; or
(b) Which was consigned to a warehouse, public or private, within the State of Nevada from outside the State of Nevada for storage in transit to a final destination outside the State of Nevada, whether specified when transportation begins or afterward.
Such property is deemed to have acquired no situs in Nevada for purposes of taxation. Such property is not deprived of exemption because while in the warehouse the property is assembled, bound, joined, manufactured, processed, disassembled, divided, cut, broken in bulk, relabeled or repackaged, or because the property is being held for resale to customers outside the State of Nevada. The exemption granted shall be liberally construed to effect the purposes of NRS 361.160 to 361.185, inclusive.
2. Personal property within this State as mentioned in NRS 361.030 and 361.045 to 361.155, inclusive, does not include personal property in transit through this State as defined in this section.
[2:77:1949; A 1954, 28] + [3:77:1949; A 1955, 600] — (NRS A 1961, 594; 1969, 662; 1973, 349; 1991, 1945)