Nevada Tax Climate
Offering one of the lowest tax burdens in the nation, Nevada is consistently cited by the likes of Forbes, Inc and Money magazines as having one of the best overall business climates in the nation. Nevada’s tax structure is designed to be less burdensome to both business and its employees. The Tax Foundation rated Nevada as the No. 5 best state for business in 2018. Nevada has…
- NO personal income tax
- NO franchise tax
- NO unitary tax
- NO inventory tax
- NO inheritance tax
- NO estate tax
BUSINESS ASSISTANCE PROGRAMS
In partnership with the Governor’s Office of Economic Development and the local jurisdictions within Clark County, the Las Vegas Global Economic Alliance offers a variety of incentives to help qualifying companies locate and expand in the region. Programs include the following:
- SALES AND USE TAX ABATEMENT on qualified capital equipment purchases, with reductions in the rate to as low as 2 percent for a 2-year period.
- MODIFIED BUSINESS TAX ABATEMENT of 50 percent of the 1.475 percent rate on quarterly wages exceeding $50,000 for a 4-year period.
- PERSONAL PROPERTY TAX ABATEMENT of up to 50 percent over a maximum of 10 years.
- REAL PROPERTY TAX ABATEMENT FOR RECYCLING of up to 50 percent abatement for up to 10 years for qualified recycling businesses.
- AVIATION PARTS ABATEMENT of up to 50 percent on personal property tax and a reduction of sales and use tax to a rate of 2 percent for a 20-year period.
- DATA CENTER ABATEMENT of up to 75 percent on personal property tax and a reduction of sales and use tax to a rate of 2 percent for a 10 or 20-year period.
- SILVER STATE WORKS EMPLOYEE HIRING INCENTIVE, providing employers up to $2,000 for hiring state-qualified employee candidates.
Contact the LVGEA to learn how to qualify for these programs.
Workforce Training Assistance
Two statewide programs, Silver State Works, and Workforce Connections incentivize workforce training for companies looking to relocate to or expand in the region. LVGEA is your portal to federal Workforce Opportunity and Innovation Act groups like Southern Nevada workforce connections.
In addition, Southern Nevada leverages available federal, state, and nonprofit programs to help businesses find the employees they need today and train the workforce businesses will need tomorrow. (Click here to learn more about our workforce programs.)