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Taxes
Just say NO to taxes!
 Taxes
in the State of Nevada are among the least burdensome in the nation
for both residents and business. Nevada is proud of is tax heritage
which has been in effect for nearly a century of keeping taxes low
while continuing to meet the needs of government spending. Nevada
is one of seven states, which has no personal income tax and one
of only three states with no corporate income tax and the only state
that does not impose an estate and/or gift tax. As well, Nevada
offers no unitary franchise tax, which in other states allows the
government to take into account a corporation’s entire international
income in figuring the company’s state tax bill.
Nevada also offers other
incentives such as:
- A low tax rate on retail sales of 6.5%. This excludes
food items, medicines or services. The counties have the option
of adding a 1/8 percent to 1 percent in addition. West Wendover
lies in Elko County, which has not elected to add the 1/8 to 1
percent.
- Sales and Use Tax abatement programs. These programs
are available
on machinery for those businesses whose operations are consistent
with Nevada’s state plan for economic diversification and
development. This plan includes a commitment to doing business
in Nevada, providing minimum job creation, meeting employee health
plans and wage requirements.
- Personal Property Tax Abatement. In addition to the
sales and use tax abatement, qualifying businesses are also eligible
for personal property tax abatement. The qualifying criteria include:
commitment to do business in Nevada, minimum job creation, employee
health plans, minimum capital investment, and an hourly average
wage that is at a minimum 125% of the average statewide industrial
hourly wage. This abatement is 50% for a period of 10 years.
- Property Tax. By Nevada statute the limit of the ad
valorem property tax is $3.64 for each $100 assessed valuation.
The average statewide tax rate is $2.86/$100. The tax rate in
West Wendover which includes Elko County is $3.086/$100. Taxable
value is considered the full cash value of the land; for improved
land, cash value is based on actuarial use. For improvements,
value is replacement cost less depreciation at 1.5 percent per
year up to 50 years. Assessed value is 35% of taxable value. As
such in the City of West Wendover, a common residential home of
1,700 square feet with a taxable value of $135,000 would pay $1,458.14
per year in property taxes.
 Other
advantages include low Unemployment Compensation Tax, Insurance
Premium Tax, and Industrial Insurance Taxes.
To view examples of tax
differences from other states click
here
For additional information
on taxes you may contact the State of Nevada through:
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