From exemptions to abatements to deferrals to the complete absence of taxes, simply operating your business in Greater Reno-Tahoe adds to your bottom line.
As part of Nevada, Greater Reno-Tahoe offers one of the most attractive tax structures in the country with:
- NO corporate income tax
- NO personal income tax
- NO franchise tax
- NO unitary tax
- NO inventory tax
- NO inheritance tax
- NO estate tax
Click here for a summary of Nevada Incentives.
Selected business incentives and assistance programs
Greater Reno-Tahoe businesses can qualify for an abatement of sales and use tax on machinery and equipment. Your business will qualify if it is consistent with Nevada's state plan for economic diversification and development, is committed to doing business in Nevada, creates a minimum number of jobs, provides employee health plans and meets wage requirements.
Businesses in qualified industries are entitled to 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.
A partial abatement from the payroll tax may be obtained by 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. Payroll taxes may be abated by 50 percent for up to 4 years.
Personal property tax abatement is also available to new and expanding businesses. Qualifying criteria include a commitment to doing business in Nevada, minimum job creation, employee health plans, minimum capital investment, and wage requirements.
Qualified recycling businesses enjoy real and personal property tax abatement if at least 50 percent of the material or product is recycled on site. Fifty percent of real and personal property tax can be abated for up to ten consecutive years as long as a commitment by the business to stay in Nevada is acknowledged by local governmental entities.
Qualified Greater Reno-Tahoe businesses can also take advantage of Nevada’s customized job training program, Train Employees Now (TEN), which may be utilized prior to, and up to 90 days following, the opening of a new plant or operation.
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 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.
The Procurement Outreach Program provides direct technical assistance and bid information to businesses selling goods and services to the government.
Greater Reno-Tahoe manufacturers and artisans benefit from Made in Nevada, the State's official program to market and promote locally-produced products worldwide.
For more on the incentives and advantages to conducting business in Greater Reno-Tahoe, visit the data center.
