Congress Passes $900 Billion Coronavirus Relief Package
The coronavirus relief package represents the second-largest recovery legislation, behind only the CARES Act, for a combined total of more than $3 trillion in support.
8 min read
Nevada Tax Rates, Collections, and Burdens
How does Nevada’s tax code compare? Nevada does not have an individual income tax. Nevada does not have a corporate income tax but does levy a gross receipts tax. Nevada has a 6.85 percent state sales tax rate, a max local sales tax rate of 1.53 percent, and an average combined state and local sales tax rate of 8.23 percent. Nevada’s tax system ranks 7th overall on our 2023 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and Nevada is no exception. The first step towards understanding Nevada’s tax code is knowing the basics. How does Nevada collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures: How Does Your State Compare?
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All Related Articles
Details and Analysis of State and Local Aid Under the Bipartisan State and Local Support and Small Business Protection Act of 2020
On Monday, members of the bipartisan Gang of Eight negotiating an end-of-year pandemic relief package announced that they had settled on language and had divided the package into two bills: a pandemic aid package and a $160 billion state and local support package.
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Wireless Tax Burden Remains High Due to Federal Surcharge Increase
A typical American household with four phones on a “family share” wireless plan can expect to pay about $270 per year (or 22 percent of their cell phone bill) in taxes, fees, and surcharges.
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2021 State Business Tax Climate Index
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Top Rates in Each State Under Joe Biden’s Tax Plan
President Joe Biden’s tax plan would yield combined top marginal state and local rates in excess of 60 percent in three states: California, Hawaii, and New Jersey (also New York City).
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New Census Data Shows States Beat Revenue Expectations in FY 2020
State tax revenue collections were down 5.5 percent in FY 2020, driven by a dismal final quarter (April through June) as states began to feel the impact of the COVID-19 pandemic. While these early losses are certainly not desirable, they are manageable and far better than many feared.
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Nevada Hoping to Extract Revenue with Mining Tax Increase Amendment
Nevada is not alone in its need to find revenue, but it should take care not to embrace bad tax policy in the process. Significant rate increases, a shift in the tax base, and provisions which make it easier to hike taxes than to cut them would heavily burden the mining industry in the state.
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Gross Receipts Taxes by State, 2020
While it’s unclear how soon state economies may be able to fully open again, it’s not too early for states to consider how they can remove barriers to businesses & consumers resuming activity.
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A Visual Guide to Unemployment Benefit Claims
Another 1.4 million Americans filed initial regular unemployment benefit claims, the eleventh week of a decline in the rate of new claims, but still among the highest levels in U.S. history. The total number of new and continued claims now stands at 19.3 million, a marked decline from the peak of 24.9 million a month ago.
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Facts and Figures 2020: How Does Your State Compare?
Our updated 2020 edition of Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
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