Nevada: The Silver State

Located in the western United States, Nevada is bordered by California, Oregon, Idaho, Utah, and Arizona. The area of ​​over 285,000 km² makes the Silver State the seventh largest in the USA. A good three million inhabitants are spread over the area. According to ehuacom, the capital is Carson City, but the best known and largest is Las Vegas.

It is a business-friendly state with a very unregulated environment, a streamlined licensing and permitting process, and a favorable tax environment for business and industry. A state that has the development of manpower, education and infrastructure to support economic development.

Nevada is a state worth visiting and an amazing place to live. It captivates visitors and residents with all the adventure and entertainment that Las Vegas has to offer as the capital of tourism, conventions, meetings and special events, but it also offers natural beauty and year-round recreational opportunities such as skiing, golfing, hiking, fishing and Swimming at Lake Tahoe.

Nevada Location Map

DESTINATION FOR BUSINESS

Nevada has always been a popular state for business. One of the main reasons for this is the low cost of incorporation, regulatory, license and annual fees, taxes and tax structure, business owner privacy and competitive utility rates for commercial operations. Nevada is ranked the seventh best state in the Tax Foundation’s 2020 State Business Tax Climate Index. The large urban centers are taking on new international identities.

Of course, Nevada and Las Vegas in particular is perceived as a tourist destination, but the Silver State has much more to offer. Nevada is fast becoming a center for technical innovation and advanced manufacturing. Apple CEO Tim Cook came in person to break ground on the Reno plant and to announce another $1.6 billion investment.

In the Tahoe-Reno Industrial Center, global players such as Tesla with the Gigafactory One, which will be the largest building on the planet, Switch, which is building the largest data center campus in the world, or eBay shake hands. Recently, both Google and Blockchains LLC have also made significant investments in the region.

Las Vegas and southern Nevada are also experiencing rapid growth and a changing, more diversified economy. Aerospace, healthcare, manufacturing and logistics are other key industries.

STRATEGIC LOCATION

The combination of a rich transportation infrastructure and proximity to West Coast markets and businesses reduces transportation and storage costs. These are powerful reasons for companies to locate their operations in Nevada.

Almost 60 million consumers as well as the major US deep sea ports serving the Pacific region can be reached within a day’s drive via arterial interstate highways. The rail network is also excellently developed and is used to transport worldwide freight to the American heartland and beyond.

Comfortable air transport is also provided in Nevada. McCarran International Airport in Las Vegas has been in the top 20 airports in the world for more than five years. In addition to more than 40 million passengers, 85,000 tons of freight are also handled. The airport connects almost every metropolitan area in the United States with non-stop flights, as well as many major global centers in Europe, Asia and Latin America.

NEVADA INCOME TAX

Nevada does not levy an income tax. However, there are federal income taxes to be paid.

CORPORATE INCOME TAX IN NEVADA

Nevada does not levy a corporate income tax. However, corporation tax has to be paid in the federal government.

NEVADA SALES TAX

There is no sales tax or Value Added Tax (VAT) in the USA based on the European model. Instead, in the United States, states, counties, and municipalities levy a local sales tax on the sale of products (but not services).

Sales tax rate in Nevada

The sales tax in Nevada is 6.85% at the state level. Municipalities or districts charge an average of 1.38% sales tax. Combined, an average of 8.23% is due.

Nevada Nexus Laws & Sales Tax

Learn more about the Economic Nexus Laws in the context of Sales Tax here.

Effective Date

October 1, 2018

Transactions included:

Gross receipts from retail sales of tangible personal property in US states, excluding sales for resale. Services are not included in the threshold.

Treatment of tax-exempt transactions:

Exempt sales (other than sales for resale) are included in the threshold; exempt services, on the other hand, are not included in the threshold value

Reason:

sales or transactions

Sales/Transactions Threshold:

$100,000 or 200 transactions

Evaluation period:

The threshold applies to the previous or current calendar year

Extra information:

  • Registration Requirements: Nevada requires that a remote business register to collect and remit Nevada sales tax beginning on the first day of the first calendar month beginning at least 30 calendar days after crossing the Economic Nexus Threshold. See LCB file no. R014-201for more details.
  • Frequently asked questions about remote sellers
  • R189-18

Nevada Marketplace Sellers & Sales Tax

Learn more about Marketplace seller registration requirements

Date of enforcement by the marketplace broker:

October 1, 2019

Economic Nexus Threshold:

Greater than $100,000 in gross sales or at least 200 transactions into Nevada in the current or previous calendar year. Currently, remote sellers should include sales made through a marketplace when calculating the threshold. The state has yet to clarify whether marketplace sellers should include or exclude marketplace sales in their threshold counts beginning October 1, 2019. Marketplace intermediaries include all sales made through the marketplace when calculating the threshold.

Registration requirements:

  • Remote Multichannel Sellers: You must register with the Nevada Department of Taxation and collect your Nevada sales tax on sales that are not taxed by a marketplace intermediary once you have crossed the Economic Nexus threshold.
  • Remote Marketplace Sellers: You may need to register once you cross the Economic Nexus Threshold, even if you only sell through one or two collection marketplaces. Contact the Nevada Department of Taxation for more information.
  • In-State Multichannel Sellers: You must register with the Nevada Department of Taxation and collect tax on sales that are not taxed from a marketplace intermediary.
  • State Marketplace Sellers: You must register. Contact the Nevada Department of Taxation for more information.