Nevada Incentives – Nevada Commission on Economic Development0

Posted by Thomas Miller, CCIM

Nevada Incentives and Reasons to Move to Nevada

Current Nevada Commission on Economic Development Incentives
Download the Nevada Incentive Program (PDF)

State Incentive Programs:

Incentives: State of Nevada – NCED:
Sales Tax Abatement:
  • An abatement of sales & use tax on eligible machinery and equipment listed on application only
  • Under abatement rate would be 2%
Sales Tax Deferral:
  • Sales tax that can’t be abated – can be deferred
  • Setting up a payment plan for taxes – equal monthly payments over 60 months (5 year payment plan)
Modified Business Tax (Payroll Tax) Abatement:
  • Abatement is 50% for 4 Years on new jobs
Personal Property Tax Abatement:
  • Eligible for up to 50% abatement of personal property tax over 10 years
  • Abatement applied to equipment listed on the application
Property Tax Abatement for Recycling:
  • Real and personal property tax abatement is available to qualified recycling businesses (50% for 10 years)
  • At least 50 percent of the material or product must be recycled on site.

Qualification Criteria:

  • Primary company (jobs)
  • A majority of the Nevada operation’s revenue is generated outside the state
  • Must agree to do business in Nevada for at least five years at or above the initial level
  • Must comply with all state and local business licensing requirements
  • Provide health insurance to the employee (and cover 25% of the cost) with an option for the dependents
  • Application must be brought to NCED from a recognized development authority

Sales and Use Tax Abatement:
All but 2% of the applicable sales & use tax can be abated (NRS mandate)

  • 2% goes to the state general fund

The abatement is eligible for the capital equipment listed in the application
only

Example: New company located in Sparks is approved for abatement on $1,000,000 of new equipment

  Tax Rate Equipment Tax
Total applicable Tax 7.725% 1,000,000 $77,250
Total applicable Tax 7.725% 1,000,000 $77,250
Not eligible for abatement 2% 1,000,000 $20,000 paid
Abatement 5.725% 1,000,000 $57,250 abated

Current Nevada Commission on Economic Development Incentives
Download the Nevada Incentive Program (PDF)

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About the Author

Thomas Miller, CCIM

Thomas Miller, CCIM is the president and broker of Miller Industrial Properties in Reno, Nevada. He has worked in industrial real estate since 1991, with 15 years of previous experience designing and building industrial warehousing and manufacturing facilities in the northern Nevada market. Contact Tom at tom@mipnv.com or 775-742-9891.

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