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Nevada: Updated Commerce Tax Filing Requirements

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As of June 13, 2019, the Nevada Legislature changed the filing requirements for the state’s commerce tax.

Originally enacted into law in 2015, Nevada’s commerce tax applies to business entities with Nevada-sourced gross receipts in excess of $4 million. Prior to the 2019 amendment, businesses that accrued less than $4 million in Nevada-sourced gross receipts were required to file a tax return, but were not subject to taxation.

Pursuant to State Senate Bill 497, businesses whose Nevada-sourced gross receipts for the 2018 tax year are $4 million or less are no longer required to file a commerce tax return.

For questions as to how this update affects your Nevada commerce tax filing requirement, please contact your Marcum State and Local Tax professional.

 
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