Incentives

Reno/Sparks/Tahoe provides unique opportunities and incentives to locate your business in our area. The combination of tax benefits, business-friendly laws, location and lifestyle make us one of the most attractive business environments in the West.

Nevada's Lack of Taxes

• NO Corporate Income Tax
• NO Personal Income Tax
• NO Unitary Tax
• NO Inventory Tax
• NO Franchise Fee
• NO Franchise Tax on Income
• NO Estate and/or Gift Tax

Nevada's Freeport Laws

All personal property in transit throughout the state, while being stored or processed for use in another state, is exempt from state property tax. Inventories held for sale within the state are also exempt from personal property tax.

Right-To-Work State

Nevada is a Right-to-Work state. Our laws prevent labor organizations from creating "closed" policies. No person shall be denied an opportunity to obtain or retain employment because of nonmembership in labor unions.

Sales and Use Tax Abatement

Qualified new and expanding businesses can abate up to 5% of sales and use tax on certain capital equipment and machinery. They must be consistent with the State's plan for economic diversification.

Sales and Use Tax Deferral

Sales and Use Tax may be deferred, up to 60 months, interest free, on capital purchases exceeding $100,000 and can be used in conjunction with the abatement program. Administered by the Nevada Tax Commission, the application must be made through the Nevada Commission on Economic Development.

Business Tax Abatement

New or expanding businesses may qualify for a partial business tax exemption if the business invests $1 million and hires at least 75 full-time employees within the first year. The business must be consistent with the Commission on Economic Development's plan for economic diversification.

Personal Property Tax Abatement

New or expanding businesses may qualify for a 50% tax exemption if the business meets 125% of the statewide average hourly wage, must continue in operation in Nevada for 10 or more years, meets minimum employment requirement, and is consistent with Nevada's plan for economic diversification.

Foreign Trade Zone (FTZ)

Opened in 1986, FTZ #126 allows foreign goods to enter the FTZin the U.S. without formal customs entry and payment of customs duties and excise taxes. Duty or taxes are only due at the time of transfer of the product or parts. If the final product is exported outside the U.S. marketplace, no U.S. duty is paid.

Employee Training

The Train Employees Now program provides short-term, intensive job training to assist new and expanding firms to reach productivity quickly. A customized program is designed to cover recruitment, hiring and job training for Nevada residents. Each project is tailored to fit the firm's needs and designed jointly by the firm and state agencies. Cost reimbursements are also available through a variety of other state and federal programs.

Industrial Development Bonds

The Industrial Development Revenue Bond (IDRB) is a special type of LOAN to qualified manufacturers who are buying land, building new facilities (or refurbishing existing buildings), and purchasing new equipment. The borrower must be credit worthy and have a 5 year operating history. The minimum amount should be $1.5 million; the maximum is $10 million. The IDRB is governed by federal and state regulations. The Nevada Department of Business and Industry, cities and counties can issue the IDRB.

Financing

Programs which exist within the Reno/Sparks/Tahoe area include: Industrial Development Revenue Bonds (both tax exempt and taxable); SBA 504 and SBA 7 (A) loan programs; Nevada Revolving Loan Fund; Export/import Bank of U.S.; Nevada Development Capital Fund; small business revitalization loans; build-to-suit with lease/purchase options and conventional loans.

Telelecommunications

Nevada does not apply telephone sales taxes to local, intra-state or inter-state calls. Reno/Sparks is 100% digitally switched and has an installed fiber optic network with ISDN capabilities.