August 19, 2019

Nevada: Updated Commerce Tax Filing Requirements

By Alex Toback Tax & Business Services

Related Service Tax & Business

Nevada: Updated Commerce Tax Filing Requirements Tax & Business

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Originally enacted into law in 2015, Nevada’s commerce tax applies to business entities with Nevada-sourced gross receipts in excess of $4 million.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.