Do you have State Income Tax in Nevada? The state of Nevada is one of the only 7 states that has no state income tax!
The state of Nevada has something called the Commerce Tax. The Commerce Tax is a gross margins tax 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 property tax rate for residential property in the state of Nevada is between 0.60% and 0.71%, making it a very preferable place to own property. There is a cap on how much the state of Nevada can raise property taxes:
There are 2 sales tax rates in Nevada: The state rate and the local rate. The state rate is 6.85% the average local rate is 1.29% (total average rate is 8.14%)
The state of Nevada had 2 types of employment taxes tied to wages: