Yesterday we released an independent report (PDF) analyzing Nevada Governor Brian Sandoval’s proposed Business License Fee tax. The proposal replaces Nevada’s current $200-flat business license fee with a tiered gross...
The facts on Nevada’s Tax Climate
Nevada's Individual Income Tax System
Nevada levies no individual income tax, joining seven other states with the same policy: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.
50-State Table of Individual Income Tax Rates
50-State Table of State Individual Income Tax Collections
50-State Table of State and Local Individual Income Tax Collections Per Capita
Nevada's Corporate Income Tax System
Nevada levies no corporate income tax, joining six other states with the same policy: Nevada, Ohio, South Dakota, Texas, Washington, and Wyoming.
50-State Table of Corporate Income Tax Rates
50-State Table of State and Local Corporate Income Tax Collections Per Capita
50-State Table of State Corporate Income Tax Collections Per Capita
Nevada Sales and Excise Taxes
Nevada levies a 6.85% general sales or use tax on consumers, which is above the national median of 5.95%. The average local sales tax rate is an additional 1.09%. Nevada's state and local governments collect $1374 per person in general sales taxes and $882 per person in excise taxes, for a combined figure of $2256, which ranks 5th highest nationally. Nevada's gasoline tax stands at 33.2¢ (10th highest nationally), while its cigarette tax stands at $0.8 (17th lowest nationally.)
50-State Table of State and Local General and Selective Sales Tax Collections Per Capita
Nevada Property Tax Collections Relatively Low
Nevada's state and local governments collected approximately $1039 per person in property taxes in 2012, which ranks 17th lowest nationally.
State and local property tax collections per capita by state
Tax Freedom Day Arrives on April 8th in Nevada
Tax Freedom Day is the day when Americans finally have earned enough money to pay off their total tax bill for the year. In 2014, Nevada taxpayers worked until April 8th (7th earliest nationally) to pay their total tax bill. The Tax Freedom Days of neighboring states are: California, April 30th (ranked 4th latest nationally); Oregon, April 20th (ranked 16th latest nationally); Idaho, April 11th (ranked 15th earliest nationally); Utah, April 17th (ranked 21st latest nationally); and Arizona, April 11th (ranked 15th earliest nationally).
Nevada's State and Local Tax Burden Below National Average
Nevada's 2011 tax burden of 8.1% ranks 8th lowest out of 50 states, and is below the national average of 9.8%. Nevada's taxpayers pay $3221 per capita in state and local taxes.
Nevada's State-Local Tax Burden, 1977-Present
Other States' State/Local Tax Burdens
Map of U.S. Showing all State's Burdens and Ranks
Historical Chart Comparing All States' State/Local Tax Burdens from 1977 to 2009
Nevada's 2015 Business Tax Climate Index Ranks 3
Nevada ranks 3rd in the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes, and taxes on property, including residential and commercial property. The ranks of neighboring states are as follows: California, 48th, Oregon, 12th, Idaho, 19th, Utah, 9th, and Arizona, 23rd.
State Business Tax Climate Index (full study)
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