PROPERTY TAX
ABATEMENT for RECYCLING
Of 50% on real and personal property tax for those qualified recycling
businesses that recycle at least 50% of the material or product on site.
The 50% of tax can be abated for up to 10 consecutive years. |
MODIFIED BUSINESS
(PAYROLL) TAX
ABATEMENT
Partial abatement from the payroll tax may be obtained by
new and expanding businesses. Statutory requirements,
which must be met to qualify, include a minimum number of
jobs created, a minimum capital investment, and wage and
employee health plan requirements. Taxes may be abated by
50 percent for 4 years.
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PERSONAL PROPERTY
TAX ABATEMENT
Real and personal property tax abatement is available to
qualified recycling businesses. At least 50 percent of the
material or product must be recycled on site. Fifty percent of
real and personal property tax can be abated for up to ten
consecutive years. A commitment to stay in Nevada on behalf
of the company is required as well as acknowledgement from
local governmental entities.
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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.
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RENEWAL & ENERGY STORAGE ABATEMENTS
For those companies involved in the production of energy
from renewable sources such as wind, solar, and others, or a
facility for the production of an energy storage device, there is
a package of abatements available including sales/use tax and
property tax. This abatement is intended for independent
power providers. |
SALES & TAX
EXEMPTIONS
On the gross receipts, for certain businesses engaged in air transportation,
from the sale of aircraft and/or the major components thereof.
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SALES TAX
DEFERRAL
The state of Nevada offers a sales & use tax deferment
program to qualified industries that purchase specific types of
capital equipment in excess of $100,000. Taxes can be
deferred interest-free for up to five years.
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SALES & USE TAX
ABATEMENT
An abatement of sales & use tax on eligible machinery and
equipment is available to businesses with operations
consistent to Nevada's state plan for economic diversification
and development. Qualifying criteria include a commitment
to doing business in Nevada, minimum job creation, employee
health plans, and wage requirements.
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