BUSINESS TAX - A one-time
state license fee Of $25.00 applies. Tax is paid quarterly and is $25.00 per each
full-time equivalent employee. Exemption provided for sole proprietors with no employees,
government entities and nonprofit 501 (c) corporations.
INDUSTRIAL INSURANCE - Workers' compensation is available through the
State Industrial Insurance System. Premium rates vary by category and are based on factors
which range from number, type and severity of injuries to actuarial considerations. The
rate imposed is applied to a maximum wage cap Of $36,000 per employee. Employers meeting
certain requirements may self insure. Employers may also join trade group self insurance
plans which have been approved by the Commissioner of Insurance.
UNEMPLOYMENT INSURANCE TAX - Paid by employers of one or more persons
with total wages paid Of $225 or more during a calendar quarter. For the first 14 quarters
as an employer in Nevada the total rate is 3 percent. It may then vary from 0.3 percent to
5.4 percent depending on the number of employees and the firm's unemployment record. The
maximum wage base upon which the rate is applied changes annually. (For 1997, the maximum
wage base is $17,200).
CORPORATE FEES - Fees for filing articles of incorporation or agreements
of consolidation providing for shares apply in Nevada. The rate varies from $125 for
$25,000 or less to $425 for the first $1 million with an additional $225 for each $5oo,000
thereafter. Fees are the same for domestic and foreign corporations.
Property Tax - State statutes limit the property tax rate to a total Of
$3.64 for each $100 of assessed valuation. Assessment is at 35 percent of taxable value.
The tax rate is applied to the assessed value. For fiscal year 1996/97 the average
statewide tax rate is $2.86 per $1oo of assessed value.
Real Property - (land, buildings and improvements not normally removable)
The taxable value for land is full cash value; for improvements value is replacement costs
less depreciation at 1.5 percent per year up to 50 years.
PERSONAL PROPERTY - (property not permanently affixed to land,
such as business equipment and mobile , /manufactured homes not
converted to real property) Assessment is 35 percent of original
cost less depreciation.
SALES & USE TAX - Sales tax is charged at retail on the sale of
tangible personal property unless exempt by statute. A companion "use" tax is
charged on property purchased outside of Nevada and brought into the state for use. The
rates can range from 6.5 percent to 7.25 percent, but the maximum levied by any county is
7.0 percent in Clark County.
ALCOHOLIC BEVERAGE TAX -
(Excise tax on importation, processing, storing or selling of all liquor including beer)
Malt beverages are taxed at 9 percent per gallon and liquor is taxed from 40 cents to
$2.05 per gallon depending on the alcohol content. Sales tax is collected on the retail
CIGARETTE & OTHER TOBACCO PRODUCTS - Excise tax on cigarettes is 13/4
cents per cigarette, which equates to 35 cents per package Of 20. Other tobacco products
are taxed at 30 percent of the wholesaler's cost. Sales tax is also collected on the
MOTOR VEHICLE TAX - Fees are annual and must be paid on all vehicles at
time of registration.
Registration - Passenger cars and trucks with a gross weight of 6,000
pounds or less pay $33 per year. Rates on trucks vary from a low Of $33 for a truck with a
gross weight of 6,000 pounds or less to a maximum Of $1,36o for a truck with a gross
weight of 8o,000 pounds.
Privilege Tax - This tax is in lieu of personal property tax. The
valuation of the vehicle is determined at 35 percent of the manufacturer's suggested
retail price, without accessories. Vehicle value is depreciated to 85 percent after the
first year and graduated down to 5 percent after nine years. Buses, trucks and truck
trailers depreciate down to 75 percent after the first year and down to 13 percent after
ten years. The rate imposed by the state is 4 cents on each $1 of valuation. Counties may
levy up to 1 cent on each dollar of valuation, but the total tax imposed cannot exceed
five cents on each dollar of valuation.
MOTOR VEHICLE FUEL TAX - Gasoline and gasohol is taxed at 23 cents per
gallon. Additional county taxes range from 5 cents to 10 cents per gallon. Combined
state/county rates vary from 28 cents per gallon to 33 cents per gallon depending on the
county. Diesel fuel is taxed at 27 cents per gallon.
GAMING TAX -There are five principle types of gaming taxes. Gross gaming
revenue tax, taxable tax, and slot taxes are levied by the state. The county table tax is
levied by the counties and gambling licenses are levied by the cities. For more
information contact the Gaming Control Board, Capital Plaza, 1i5o E. William Street,
Carson City, Nevada 89710.
LODGING TAX - A statewide tax of one percent of gross receipts is imposed
on the rental of (transient lodging) hotel and motel rooms. This is in addition to any
locally imposed room taxes which range from o to 11 percent.
INSURANCE PREMIUM TAX - Insurers pay 3.5 percent of the total direct
premiums written for the preceding calendar year covering property or other risks in the
state. Insurance companies domiciled outside Nevada pay the same premium tax and fees as a
Nevada company would be required to pay to the domiciliary state which tax and fees are
greater than those charged by Nevada. A company maintaining a qualified home office in
Nevada receives a 50 percent credit on the aggregate tax and full credit for property
taxes allowed, which cannot exceed 80 percent of the tax otherwise due.