Taxes &
Fees
 According to Money
magazine, "Nevada has the third lowest tax burden in the
nation." The Silver State’s tax structure is among the most
attractive in the United States—benefiting employers and
employees alike. Carson City businesses enjoy substantial tax
savings and a favorable return on investment.
Carson City offers an alluring,
business-friendly tax climate for companies looking to relocate
from within Nevada as well as beyond the state line. Carson City
businesses enjoy favorable tax incentives that include no
personal or corporate income taxes, inventory or estate taxes.
Plus, in an effort to further protect the financial privacy of
its corporate citizens, Nevada is the only state that does not
share tax information with the IRS.
The following are taxes which
are typical of other states in the country, but are NOT imposed
on Carson City businesses:
Taxes NOT assessed in Carson
City
Taxes & Fees Assessed in Carson
City
|
Tax |
Percent/Amount |
|
Real and
personal property |
35% of
assessed valuation |
|
Property
|
$2.63
per $100 of assessed valuation, capped at 35%
|
|
Sales
and use |
7% -
services, utilities, food for home consumption, medical
supplies and prescription drugs are exempt
|
Taxes & Fees Assessed in Nevada
|
Tax |
Details of Tax |
|
Business
License |
$100
annual fee. Additionally, if a payroll is reported to
employment security division (for Unemployment
Insurance) a modified business tax return (.65%) is
required and based on gross payroll. |
|
Modified Business Tax (General
Businesses)
|
0.65% of
total gross wages less a qualified deduction for
employee health insurance benefits paid by the
employer. |
|
Modified Business Tax (Financial
Institution)
|
2% of
total gross wages less a qualified deduction for
employee health insurance benefits paid by the
employer. |
|
Live Entertainment Tax |
The live
entertainment tax rate is two tiered: 1) for live
entertainment within licensed gaming establishments and
2) for live entertainment outside of licensed gaming
establishments. |
|
Cigarette and Liquor Taxes |
In
addition to sales tax a 30% for other tobacco products
and $.80 per pack of cigarettes. Liquor excise tax is
assessed on importation: beers $.16/gallon. Liquor
content of .5%-14% = $.70/gallon, 14.1%-22% =
$1.30/gallon, 22.1%-80% = $3.60/gallon. |
|
Real Property Transfer Tax |
Varies
within counties (see Carson City taxes for details).
|
|
Bank Excise Tax |
if a
payroll is reported to employment security division (for
Unemployment Insurance) a modified business tax return
(2%) is required and based on gross payroll. In
addition, $1750 is due on a quarterly basis for each
branch operated in Nevada. |
Source:
Nevada Department of Taxation
www.tax.state.nv.us
Taxes Assessed in Western States
|
State |
Personal Income: Low Tax
Rate |
Personal Income: High Tax
Rate |
Federal Tax Deduction |
Sales Tax* |
Personal & Real Property |
Inheritance |
|
Nevada |
NONE |
NONE |
NONE |
6.5% |
35% of full market value |
NONE |
|
California
|
1% |
9.3% |
NONE |
6%* |
Fair Market Value |
NONE |
|
Oregon |
5% |
9% |
$5000 limit |
NONE |
Varies per county |
Unified credit amount begins
at $229,800 for an estate valued at $700,000 or more |
|
Washington |
NONE |
NONE |
NONE |
6.5%* |
Fair Market Value |
NONE |
|
Idaho |
1.6% |
7.8% |
NONE |
6.5%* |
Varies per county |
|
|
Utah |
2.3% |
7% |
Half of federal taxes are
deductible |
4.75%* |
Fair Market Value |
Based on federal tax
collection |
|
Colorado |
4.63% |
4.63% |
NONE |
2.9% |
Varies per county |
NONE |
|
Arizona |
2.87% |
5.04% |
NONE |
5.6% |
Varies per county |
NONE |
*This is the
state minimum sales tax. Additional county sales taxes are
levied. |
