None

State
Income
Tax

Low

Property
Taxes

3.375%

Sales
Tax

$1000

Other
Taxes

$600 – $1200

Cost of Setting Up A Business

State Tax Ranking #9

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!

Do you have State Business Tax in Nevada?

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.

What are Property Taxes like in Nevada?

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:

  • Owner-occupied home – Maximum increase is 3% (eg. Your prop tax is $1,000 in year one, they can only raise it to $1,030 in year 2)

 

  • Rental Property – Maximum increase is 8% (ex. Your prop tax is $1,000 in year one, they can only raise it to $1,080 in year 2)

 

How are Sales Taxes handled in Nevada?

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%)

What are the employment taxes in Nevada?

The state of Nevada had 2 types of employment taxes tied to wages:

  • Unemployment Tax—starts at 3.00% for on the first $31,200 you pay per employee (EE)