Nevada Issues FAQs about New Commerce Tax on Business

Nevada will soon be joining the many states that tax business receipts with the new Nevada Commerce tax (see the Henry & Horne blog “No Longer Tax Free – Nevada Enacts Commerce Tax on Businesses“). The initial Nevada Commerce Tax applies to the fiscal year of July 1, 2015 to June 30, 2016 regardless of …

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No Longer Tax Free – Nevada Enacts Commerce Tax

Nevada has been a favored place to transact business as an income tax-free state. That all ended on June 10, 2015, when Governor Sandoval signed a bill enacting a new “Commerce Tax” applicable to each “business entity” with Nevada gross revenue exceeding $4,000,000 in a taxable year. The Nevada Commerce Tax is a gross revenue …

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