Nevada Tax Incentives
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. Nevada was ranked No. 3 Most Business Friendly Tax Climate by the Tax Foundation for 2015.
- NO corporate income tax
- NO personal income tax
- NO franchise tax
- NO unitary tax
- NO inventory tax
- NO inheritance tax
- NO estate tax
Nevada Incentives Overview
The State of Nevada, through the Governor’s Office of Economic Development (GOED) offers the following tax incentives to companies considering relocating or expanding to the state: Sales & Use Tax Abatement, Modified Business Tax Abatement, Personal Property Tax Abatement, Real Property Tax Abatment for Recycling, Intellectual Property Development and Train Employees Now (TEN). Incentives are granted subject to the following three categories of critieria: job creation, capital investment and average wage.
Incentive Reference Guide updated July 2016
Nevada Catalyst Fund
Created in 2011, Nevada’s Catalyst Fund incentivizes the expansion or relocation of businesses that will quickly result in the creation of high-quality, primary jobs in Nevada. This fund offers a tool to Regional Development Authorities to assist their efforts to close deals with viable companies that will enhance the state’s economic sectors and offer stable jobs with good pay and benefits.
Nevada Catalyst Fund Overview
Workforce Training Assistance
Two statewide programs, Train Employees Now (TEN) and Silver State Works incentivize workforce training for companies looking to relocate to or expand in the region.
Train Employees Now (TEN) Overview
Silver State Works Overview
Property Tax Exemptions
The following are exempt from property tax:
- Inventories held for distribution purposes
- 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 Energy & Environmental Design (LEED) Green Building Rating System adopted by Nevada’s Office of Energy to 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-Sparks-Tahoe manufacturers and artisans benefit from Made in Nevada, a non-profit program to market and promote locally-produced products worldwide.