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Below is a snapshot of key features of Nevada's tax system. (Scroll Down)
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State & Local Revenue (FY08)
- General Revenue, Own-Source (GROS): $15.8 billion
- General Revenue as a Share of Income: 14.9%
- Tax Revenue: $10.6 billion
- Tax Revenue as Share of income: 10%
- Personal Income Tax (Share of Tax Revenue): 0% (51 out of 51)
- Corporate Income Tax (Share of Tax Revenue): 0% (51 out of 51)
- Sales & Excise Tax (Share of Tax Revenue): 55.7% (3 out of 51)
- Property Tax (Share of Tax Revenue): 30.4% (25 out of 51)
- Other Taxes (Share of Tax Revenue): 4.5% (13 out of 51)
Personal Income Tax Features (2011)
- Range of Tax Rates: N/A
- Standard Deduction: N/A
- Personal Exemption: N/A
- Dependent Exemption: N/A
- Earned Income Tax Credit (EITC): None
- No broad based personal income tax
Corporate Income Tax Features (2011)
- Range of Tax Rates: N/A
- Income Level at Which Top Rate Applies: N/A
- Combined Reporting: N/A
- Apportionment Factor (Payroll): N/A
- Apportionment Factor (Property): N/A
- Apportionment Factor (Sales): N/A
Sales Tax Features (2011)
- State Sales Tax Rate: 6.85%
- Average Local Sales Tax Rate: 1.00%
- Average Combined State & Local Sales Tax Rate: 7.85%
- State Sales Tax Treatment of Groceries: Exempt
- Local Sales Tax Treatment of Groceries: Exempt
- Number of Services Taxed: 77 out of 168 surveyed
- Streamlined Sales Tax Membership: Full
- State sales tax rate scheduled to decline to 6.5% in 2011
- Vendor Compensation available without ceiling
Property Tax Features (2011)
- Property tax based on value of land plus "depreciated replacement value" of improvements
- Localities' property tax revenue increases capped at 6% per year.
- Levies a car tax.
Other Tax & Revenue Features (2011)
- Gasoline Tax Rate (per gallon): $0.331
- Diesel Tax Rate (per gallon): $0.286
- Cigarette Tax Rate (per pack): $0.80
- Estate or Inheritance Tax: No
- Net Lottery Sales Per Capita: N/A
Tax Policy Oversight
- Tax Expenditure Report: None
- Tax Incidence Analysis Capability: None
Last Updated August 25, 2011
Sources & Glossary
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