Las Vegas, NV Estate Planning & Probate Blog

Wednesday, August 3, 2016

Nevada Commerce Tax FAQs---- Deadline is August 15, 2016!

We're getting a lot of questions about this issue, and I admit, it's a bit confusing.  You see, the measure for the Margin Tax was defeated during Nevada's last legislative session... But we have to now deal w/ the Nevada Commerce Tax.

What is it?

The Commerce Tax is a new annual business tax passed by the Nevada Legislature during the most recent (2015) state Legislative Session. The tax is imposed on businesses with Nevada gross revenue exceeding $4,000,000.00 in a taxable year.

Who does this apply to???

All Nevada businesses, including those who don’t conduct traditional “business activities” (i.e. holding companies, LLC’s that own real property/rentals, etc.) are now required to file a Commerce Tax return, even if gross receipts are under $4,000,000.00.  There will be no tax liability for those businesses whose gross receipts are under $4,000,000.00, however a return must be filed.

When's the deadline???

The Commerce Tax return is due 45 days following the end of the state's fiscal year ending June 30th. For 2016, the first return is due August 15, 2016. 

What do I need to do???

All Nevada businesses registered with the Nevada Secretary of State (regardless of income/gross receipts!) should have received a welcome letter with enrollment instructions. You can find enrollment instructions and further information about this tax at, or contact the Commerce Tax Division at (866) 962-3707 for assistance.  We strongly urge you to visit their website for additional information on how to obtain a NV Taxpayer ID and how to file the return electronically.

You can find Commerce Tax News here.

If you have questions or would like to learn more about getting legal assistance with this fun new compliance issue, please contact us

Good luck out there! :)

-Tiffany Ballenger Floyd, Esq.

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