“Average monthly wage” defined

1. Except as otherwise provided in subsection 3, “average monthly wage” means the lesser of: (a) The monthly wage actually received or deemed to have been received by the employee on the date of the accident or injury to the employee, excluding remuneration from employment: (1) Not subject to the Nevada Industrial Insurance Act or the Nevada Occupational Diseases Act; and (2) For which coverage is elective, but has not been elected; or (b) One hundred fifty percent of the state average weekly wage as most recently computed by the Employment Security Division of the Department of Employment, Training and Rehabilitation during the fiscal year preceding the date of the injury or accident, multiplied by 4.33. 2. For the purposes of subsection 1: (a) The date of the accident or injury to the employee must be determined pursuant to NRS 616C.425. (b) “Wage”: (1) Does not include any amount paid by an employer for health insurance that covers an employee or the dependents of the employee, or both. (2) Is increased by the amount of tips reported by an employee to his or her employer pursuant to 26 U.S.C. § 6053(a), except: (I) Tips in a form other than cash; and (II) Tips in cash which total less than $20 per month. 3. For the purpose of increasing compensation for permanent total disability pursuant to NRS 616C.465 or increasing death benefits pursuant to NRS 616C.520, “average monthly wage” has the meaning shown in the following schedule: Effective Date Average Monthly Wage for Prior Fiscal Year July 1, 1973..................................................................................................... $688.60 July 1, 1974........................................................................................................ 727.48 July 1, 1975.................................................................................................... 1,142.21 July 1, 1976.................................................................................................... 1,211.00 July 1, 1977.................................................................................................... 1,287.44 July 1, 1978.................................................................................................... 1,377.08 July 1, 1979.................................................................................................... 1,488.46 July 1, 1980.................................................................................................... 1,591.86