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Nevada Tax Advantages

Nevada Tax Advantages

 

Simply put:

 

The best state in the country overall for business is Nevada as quoted in California Business magazine. The magazine published the results of a 50 state survey which showed the pastures really are "greener on the other side of the state line."

 

In Nevada, there are fewer taxes and a lower tax burden than in most other states. That's why Nevada is on every list of the top tax havens. Just this year, Money magazine ranked Nevada as one of the states with the lowest tax bill and California Business magazine rated Nevada as best overall for business based on a review of several factors including a low tax burden.


Advantages of living in Nevada include:

  • No personal income tax
  • No corporate income tax
  • No inheritance, estate or gift tax
  • No franchise tax
  • No unitary tax
  • No special intangible tax
  • No chain store tax
  • No admissions tax
  • No inventory tax

A California Business research team collected information on all 50 states. They brought together government statistics and private research reports and compared special interest data bases. Twenty different measures of state social, economic and business health were chosen as being of primary importance. Nevada was chosen largely because of its pro-business attitude.

Nevada ranks high in the following areas: 

  • Overall business climate
  • Lowest corporate profits tax
  • Best overall economy
  • Population growth
  • Employment growth
  • Lowest combined major state and local tax
  • Number of new companies per 10,000 workers
  • Gross state product (GSP) growth
  • Number of environmental policy initiative in place

 

To sum it up:

A move to Nevada is a move to the greener pastures of a top-ranked business climate.