Taxes
Nevada 's tax climate is among the most attractive in the U.S. ! There are a number of taxes common to many of the 50 states which are not imposed in Nevada . For example, the following taxes are NOT imposed in Nevada:
Franchise
Corporate (Taxes Measured by Net Income)
Bank Excise Measured by Income
Personal Income (1)
Special Intangible
Admissions
Sales Tax on Food
Bank Share Tax (2)
Chain Store
Inheritance
Note:
(1) In 1990, the voters of Nevada approved a constitutional amendment to prohibit the imposition of a personal income tax. (2) In 1986, voters of Nevada approved the repeal of the constitutional provision which provided for a bank share tax. Source: Nevada Taxpayers Association
Western States Comparison
|
State |
Corporate Income |
Sales and Use* |
Personal Income |
|
NEVADA |
None |
6.5% |
None |
|
Arizona |
6.968% |
5.6% |
2.87% to 5.04% |
|
California |
8.84% |
6.0% |
1.0% to 9.3% |
|
Colorado |
4.63% |
2.9% |
4.63% |
|
Idaho |
7.6% |
5.0% |
1.6% to 7.8% |
|
Oregon |
6.6% |
None |
5.0% to 9.0% |
|
Utah |
5.0% |
4.75% |
2.3% to 7.0% |
|
Washington |
None |
6.5% |
None |
|
*Local rates may be additional. For example, in Clark County the total combined rate is 7.5% (effective 10/1/2003 ). Source: Federation of Tax Administrators (Tax Year 2003 - as of Jan. 1, 2003 ) |