Aside from a handful of exceptions, nearly all goods, wares and merchandise are subject to sales tax. This includes items purchased for resale or incorporated into a product sold at retail, such as clothing, furniture, and electronic equipment. Generally, services that are necessary to complete the sale of tangible personal property or that are required as part of the sales contract are not subject to taxation unless separately stated on the invoice.
If you purchase tangible personal property from an out-of-state vendor, you may be able to use an out-of-state resale certificate to avoid tax. The certificate must contain a general description of the kind of property, the buyer’s and seller’s names and the date of the sale. If the resale certificate is delivered electronically, it does not need to be signed.
As a reminder, businesses with Nevada gross revenue exceeding $4,000,000 from engaging in business in the State during a taxable year are required to file the Commerce Tax return and remit the tax. The return is due 45 days following the end of the fiscal year, which is June 30 in 2021 and August 15 in 2022. If the 45th day falls on a weekend or holiday, the return is due the next business day.
To simplify the compliance process, the Department of Taxation offers SilverFlume to manage your business and tax filings online. Log in or sign up to get started. The Department’s Common Forms page has centralized all of our most used taxpayer forms for your convenience.
Regulations
Nevada regulations are rules and administrative codes that provide a framework for how to conduct business within the state. They are not statutes, but have the force of law. They are typically not included in the same books as the Nevada statutes, and they can be difficult to locate. If you have a specific regulation in mind, check out the website of the state agency that propounded it or visit your local law library (see links below).
A final note about regulations: they are “amended” or changed by the agency from which they were propounded from time to time. If you want to be sure that the regulation you’re looking at is the newest and the most notable, click on the links below to check out some of the most recent Nevada regulations from the Legislative Council Bureau’s online repository. Then, make sure to read the description of the particular regulation.
Licensing
For many small businesses, ensuring compliance with local, state, and federal regulations can be a big undertaking. While some licenses and permits can be completed on your own, other tasks require professional assistance. Fortunately, Nevada Small Business Development Center offers no-cost, confidential business advising. Our licensed business advisors will help you understand which licensing and permits your business needs to be compliant, and how to complete them.
Licensing in Nevada is a complicated process that often requires more than one type of license or permit. A few of the most common types include: zoning, building, and fire department permits. Some licenses and permits may be issued by local municipalities and county governments, while others may be regulated by the State of Nevada or the federal government. It is important to identify the type of license or permit that your business will need before submitting an application to avoid delays or fees. Additionally, some types of permits require a background check and financial suitability investigation before obtaining them. For more information on the licensing requirements for your Nevada business, visit the State of Nevada website.
