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Taxes on Business Income in Nevada

Filed under State Taxes. Fact checked on February 13, 2013.

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Corporate income tax is not imposed in Nevada. In addition, personal income tax, based on individual income, is not imposed in Nevada, However, Nevada does have several other types of taxes that may affect your business.

Regardless of the form your business takes, the state of Nevada does not assess an income tax on business or personal income.

The state of Nevada does have various taxes that may apply to your business in Nevada. The following taxes may affect your business in Nevada:

  • A quarterly modified business tax (MBT) is imposed as an excise tax on Nevada employers. The MBT is based on employee gross wages (from line 3 of the Employment Security Division's Form NUCS 4072), less a qualified deduction for employee health insurance benefits paid by the employer. Effective July 1, 2011, the rate for any taxable wages for any General Business employer above $62,500 per calendar quarter is 1.17%, after health care deductions. The MBT is eliminated for any General Business employer with $62,500 or less in taxable wages per calendar quarter, after health care deductions. (A different rate applies for financial institutions.) Previously, the rate was a tiered rate, effective July 1, 2009 through June 30, 2011, with a rate of 0.5 percent on the first $62,500 of wages per calendar quarter, and a rate of 1.17 percent on the excess over $62,500. A partial abatement of the tax is available to start-up businesses. Qualifying businesses can apply for a rebate of 50% of the that would otherwise be due in the first four years of operation.
  • The state of Nevada also has several types of taxes and fees related to the gambling industry. Every owner, lessee or employee conducting gambling events must be licensed. The taxes are based on number of machines, game tables and gross revenue. In addition a casino entertainment tax is also imposed. The casino entertainment tax is 10 percent of all amounts paid for admission, food, refreshments and merchandise at each qualified licensed gaming establishment in the state where music and dance privileges or any other entertainment takes place.

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