The Baker Company



Tax Incentives for Reno and Northern Nevada.

Northern Nevada has the most business-friendly tax climate in the nation. Seriously! Nevada lawmakers saw an opportunity years ago when surrounding states kept raising worker comp and tax rates and businesses thereby cutting into their bottom line and often forcing them to relocate to a state with a more business friendly atmosphere. California, in particular, is famous for doing this and has resulted in over 80 businesses relocating to Nevada in recent years!

Nevada offers one of the most attractive tax structures in the country with:

  • NO franchise tax
  • NO estate tax
  • NO inheritance tax
  • NO corporate income tax
  • NO personal income tax
  • NO unitary tax
  • NO inventory tax

Businesses in northern Nevada can also qualify for an abatement of sales and use tax on machinery and equipment, and can also apply for sales and use tax deferment for up to five years on capital investments on specific types of equipment in excess of $100,000.

Sales tax exemptions are extended for gross receipts from the sale of aircraft and major components of aircraft.

New and expanding businesses can apply for personal property tax abatement. Qualifying criteria include a commitment to doing business in Nevada, minimum job creation, employee health plans, minimum capital investment, and wage requirements.

If that were not enough incentive, you can also apply for a partial abatement from the payroll tax for new and expanding businesses that create a minimum number of jobs, meet a minimum level of capital investment and offer adequate wages and health plans to employees.

Qualified companies can also take advantage of Nevada’s customized job training program.

Property Tax Exemptions

The following are exempt from property tax:

  • Inventories held for sale within Nevada
  • All personal property stored, assembled or processed for interstate transit
  • All raw materials and supplies utilized in the manufacturing process
  • All real and personal property that qualifies and is used for the purpose of air and/or water pollution control
  • Others may be applicable depending on the company's situation.

Green building abatements are made available on real property which has a building or other structure certified as silver level or higher under the Leadership in Environmental Design Green Building Rating System adopted by Nevada's Office of Energy. Up to 35% of real property tax may be abated for up to ten consecutive years should the company commit to maintain operations in Nevada.

Companies in the renewable and alternative energy and energy storage segments are offered renewable and energy storage abatements that encompass sales and use tax and property tax.

The Nevada Hub Zone Development program extends sales and use tax and personal property tax abatements to businesses relocating or expanding in historically underutilized zones and enterprise communities. Additional incentives are available to qualified grocery stores and to businesses hiring dislocated workers.

The State of Nevada is authorized to use tax-exempt Industrial Development Bonds to provide low-interest financing of new construction, improvements, rehabilitation, or redevelopment of qualified projects, which include manufacturing facilities and other projects organized under Section 501 of the Internal Revenue Service code.

Northern Nevada goods-producers benefit from Made in Nevada, the State's official program to market and promote locally-produced products worldwide.

 

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