-Nevada is one of the only 8 states that has no state income tax.
-Nevada has one of the strongest LLC structures in the country.
The state of Nevada does not have individual income tax, one of only 8 states in the union.
The state of Nevada does not have business income tax, however it does have a Gross Margins Tax* called the Commerce Tax. The Commerce Tax is assessed on businesses that have over $4 Million in Revenue in Nevada. The tax is based on fiscal year (July 1st through June 30th of the following year) and you only must report to the State if your gross margins are over $4 Million. The average tax rate on Gross Receipts is 0.19%.
Like many states, Nevada has multiple tax rates. One at the state level and another at the local level. The state rate is 6.85% the average local rate is 1.47% (total average rate for Nevada Sales Tax is 8.32%)
The average property tax rate for residential property in the state of Nevada is 0.66%, making it a very preferable place to own property. There is a cap on how much the state of Nevada can raise property taxes in a given year:
Unemployment taxes usually consist of three factors. They are the wage base, range of rates, number of schedules. Below is an outline of the three.
Nevada is one of the best states in the country to set up your LLC due to its robust LLC laws. Here are some important facts: