State auditors say Las Vegas-area cabs are overcharging customers to the tune of $47 million a year.

The finding came in an audit of the Nevada Taxicab Authority presented Tuesday.

Auditors in the governor's finance office say the $3 credit card processing fee the authority allows is excessive and should be no more than 90 cents.

They also criticized the authority for approving taxi rate hikes even though gas prices are going down, saying it's a windfall for cab companies but takes money out of the rest of the economy.

The audit recommends abolishing the taxicab authority, which regulates only Clark County cabs. Auditors say the Nevada Transportation Authority or Clark County could assume oversight.

The taxicab authority's chief said the agency's board will soon discuss implementing the audit recommendations.