Minimizing Your Taxes and Managing Your Complex Affairs

Tax Tips, Finance Tips, Fun Events

Tips for Individuals, Businesses and Charities. Fun Events.

Nevada Commerce Tax Small Business Exception

Nevada has simplified tax reporting for small business.

Businesses whose Nevada gross revenue for the 2018-2019 taxable year is $4,000,000 or less, are no longer required to file a commerce tax return.

Businesses whose Nevada gross revenue for the 2018-2019 taxable year is over $4,000,000 are still required to file a commerce tax return by August 14, 2019.

For those who need to file, the commerce tax has 26 business categories that determine an entity’s tax rate. The tax rate varies by category and ranges from 0.051% to 0.331%.

For a consultation on your business’ exposure to multistate taxation, contact me today.

Richard Pon CPA, CFP