Nevada doesn't impose a franchise tax on businesses, setting it apart from states like Delaware and New York. This absence offers real advantages for companies considering where to establish operations or expand their business presence.
However, Nevada businesses may still face compliance obligations like annual list filing with the Nevada Secretary of State and taxes such as the Commerce Tax, Modified Business Tax, and Sales and Use Tax.
A major selling point: Nevada has no personal or corporate income taxes. This, along with no franchise tax, attracts tax-conscious businesses. Here’s a quick overview of what you need to know.
Every Nevada-registered business must file an Annual List (aka Nevada annual report) to maintain good standing, regardless of other tax obligations.
Specific requirements vary by business structure, but both LLCs and corporations must file with the Secretary of State by the last day of the anniversary month in which your business entity was originally formed or registered. Early filing is encouraged, and you can submit your Annual List as early as 90 days before the due date. Late filings incur penalties, and continued non-compliance can result in administrative dissolution.
While Nevada offers a business-friendly tax environment without a franchise tax, companies operating may owe one or more of the following taxes:
You can file and pay these taxes through the Nevada Department of Taxation.
Business compliance in Nevada doesn't have to take up your valuable time. With Discern, you can manage multi-state compliance and filings simultaneously and affordably. Setup takes only minutes and covers all 51 jurisdictions, letting you focus on what truly matters: strategic growth and innovation.
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