Many people are beginning to wrap their minds around the House Republicans’ proposed destination-based cash-flow tax and what it means for tax reform. Most people are still looking into the tax’s impacts on trade and how...
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- Nevada Governor Brian Sandoval Proposes Restructuring Sta...
Nevada Governor Brian Sandoval Proposes Restructuring State's Business License Fee
This afternoon, Nevada Governor Brian Sandoval proposed restructuring the state's existing $200 annual Business License Fee into a quarterly graduated tax that is calculated based on a business's total revenue and industry. In the proposal, there are 30 possible industry classifications and 67 possible options for each (based on total revenue), amounting to 2,010 possible rates.
Below are details provided by the Governor's Office:
- “Business License Fee Facts”
- Industry Category Descriptions
- Explanation of Industry Rate Calculation
- Rate Matrix (based on industry and total revenue level)
We will review these documents over the weekend and provide a detailed explainer on the proposal's key features early next week. Stay tuned!
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