Welcome to Las Vegas Coldwell Banker Premier

TAX & LICENSE / STATE TAX SYSTEM

One of the most desirable features for new residents and businesses alike is the Nevada tax structure. Anchored by revenues from tourism, the state does not impose taxes on personal income, corporate income, franchise, gifts, inheritance, or inventory. The neighboring state of California collects all these taxes, a fact that has contributed to Nevada’s status as a preferred location for new businesses. Nevada residents and businesses enjoy light tax burdens compared to those living in other Western states, since the majority of tax revenues tend to be derived from tourist gaming expenditures. For details on taxes, contact the Las Vegas office:

Department of Taxation
555 E. Washington Avenue
Las Vegas 702-486-2300
https://www.nevadatax.nv.gov/jse/

Nevada Tax Structure

Personal Income Tax
None

Inheritance Gift Taxes
None

Local Earnings Taxes
None

Property Tax
Nevada’s constitutional limit on property tax is $5 per $100 of assessed valuation while the statutory limit is $3.64 per $100. Ad valorem (according to value) property taxes are administered by the Department’s Division of Assessment Standards and local county assessors. These taxes apply to every property type, although the Nevada Revised Statutes now offers an exemption for some properties. For example, household goods owned by a single family are exempt from personal property tax. For answers to specific questions on property taxes in Clark County, contact:

Clark County Assessor
500 South Grand Central Parkway
Las Vegas 702-455-3882
www.clarkcountynv.gov/assessor/Pages/default.aspx

Sales and Use Tax
Sales taxes are imposed at the retail level, while the use tax is imposed on tangible personal property purchased for storage or use in Nevada (only when Nevada sales tax was not paid at the time of purchase). The Nevada sales/use tax rate is 6.85 percent, although counties and jurisdictions are allowed to increase this amount. The current high rate is 8.1 percent, which applies to Clark County. Specific tax rates levied by city and county governments are available online at the tax department’s website.

Real Property Transfer Tax
The RPTT tax is collected by the county recorder at the time that an interest in real property is conveyed. The tax is based on the selling price or estimated market value of the property. The state also adds $2.55 per $500 of value to the total tax.

Motor Vehicle Registration Taxes
Details or answers to specific questions on current tax rates and fees are available from the Carson City central office:

Department of Motor Vehicles
775-684-4830
www.dmvnv.com