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Controlling Your Taxes Your State Tax Obligations Nevada Taxes on Business Income in Nevada Income Taxes on Business Income in Nevada
Controlling Your Taxes Your State Tax Obligations Nevada Taxes on Business Income in Nevada Income Taxes on Business Income in Nevada
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PrintIncome Taxes on Business Income in Nevada
In Nevada, you're generally free to choose to operate your business as a C corporation, S corporation, partnership, limited liability company (LLC), or sole proprietorship. However, 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. The tax rate is 0.63 percent of wages. However, 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 has several types of taxes and fees related to their 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.
