TAX & LICENSE / STATE TAX SYSTEM
One of the most desirable features for new residents and businesses alike is the Nevada tax structure. Anchored by revenues from tourism, the state does not impose taxes on personal income, corporate income, franchise, gifts, inheritance, or inventory. The neighboring state of California collects all these taxes, a fact that has contributed to Nevada’s status as a preferred location for new businesses. Nevada residents and businesses enjoy light tax burdens compared to those living in other Western states, since the majority of tax revenues tend to be derived from tourist gaming expenditures. For details on taxes, contact the Las Vegas office:
Department of Taxation
555 E. Washington Avenue
Las Vegas 702-486-2300
www.tax.state.nv.us
Nevada Tax Structure
Personal Income Tax
None
Inheritance Gift Taxes
None
Local Earnings Taxes
None
Property Tax
Nevada’s constitutional limit on property tax is $5 per $100 of assessed valuation while the statutory limit is $3.64 per $100. Ad valorem (according to value) property taxes are administered by the Department’s Division of Assessment Standards and local county assessors. These taxes apply to every property type, although the Nevada Revised Statutes now offers an exemption for some properties. For example, household goods owned by a single family are exempt from personal property tax. For answers to specific questions on property taxes contact your local county assessor office.
Carson City Assessor
201 North Carson Street
Carson City 775-887-2130
www.carson-city.nv.us/Index.aspx?page=85
Douglas County Assessor
PO Box 218
Minden 775-782-9830
http://assessor.co.douglas.nv.us
Lyon County Assessor
27 S. Main Street
Yerington 775-463-6524
www.lyon-county.org/index.asp?nid=55
Washoe County Assessor
1001 E. 9th Street
Reno 775-328-2200
www.co.washoe.nv.us/assessor
Sales and Use Tax
Sales taxes are imposed at the retail level, while the use tax is imposed on tangible personal property purchased for storage or use in Nevada (only when Nevada sales tax was not paid at the time of purchase). The Nevada sales/use tax rate is 6.5 percent, although counties and jurisdictions are allowed to increase this amount. Specific tax rates levied by city and county governments are available online at the tax department’s website.
Real Property Transfer Tax
The RPTT tax is collected by the county recorder at the time that an interest in real property is conveyed. The tax is based on the selling price or estimated market value of the property. The state also adds $1.30 per $500 of value to the total tax.
Alcohol & Cigarette Taxes
Cigarette packs are taxed at the rate of 80 cents/pack. A 30 percent tax is also imposed on tobacco products on the wholesale level. Alcohol excise taxes range from $.16 to $3.60 per gallon and vary with the alcohol content of the product.
Estate Tax
The amount of tax is the maximum state credit that is allowable against the federal estate tax.
Gasoline Tax
Gasoline and gasohol are taxed at 23 cents per gallon, with county tax additions from 5 to 10 cents per gallon.
Motor Vehicle Registration Taxes
Details or answers to specific questions on current tax rates and fees are available from the Carson City central office:
Department of Motor Vehicles
775-684-4830
www.dmvnv.com
