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Nevada: Betting on Exports and Energy to Offset Record Unemployment

Mary Lou Byrd (Oct/Nov 09)
Steady business from overseas is a key element in preventing additional economic erosion in this recession-devastated state. More

Clean Energy, Green Economy

Steve Stackhouse (June/July 09)
Renewable energy stands poised to create opportunities across the country. More

Nevada's Business-Friendly Tax Structures Attract Domestic and International Investment

Mali R. Schantz-Feld (Oct/Nov 08)
Solar energy, agricultural products, and software development lead the state’s industry growth. More

A Discussion With Nevada Governor Jim Gibbons

Jennifer LeClaire  (Apr/May 07)
If you ask Nevada Governor Jim Gibbons what’s on his mind these days, you’ll hear the word “education” somewhere in his response. Gibbons has made education his top priority, followed by tax reduction, renewable energy, and homestead exemption. It’s a combination that spurs long-term economic development opportunities for his state. More
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Nevada  At A Glance
POPULATION: 2,783,733 (2008 estimate)

LABOR FORCE: 1,409,227 (July 2009)

RIGHT TO WORK: Yes

TRADITIONAL INDUSTRIES: Mining, tourism, agriculture

EXPANDING INDUSTRIES: Renewable energy, light manufacturing, research and development, financial services

COLLEGE GRADUATES: (Age 25 and over) 20.9%

BASIC BUSINESS TAXES:
Corporate Income Tax:
None

Business License Fee: $200 annually

Gross Payroll Tax: 0.5–1.17 percent with deductibility of employer-paid health insurance premiums; financial institutions are taxed at 2 percent and have a $1,750 branch fee.

Sales and Use Tax: 6.85 percent on retail sales plus local add-ons

Property Tax: Levied at 35 percent of the property’s full cash value

BUSINESS INCENTIVES:
Sales tax deferral and abatement
Property tax abatement
Foreign-trade zones
Job training
Personal property tax abatement
Industrial development revenue bonds
Modified business tax abatement
Private activity bond financing
Captive Insurance Program
Millennium Scholarship Program
Publicly registered securities offerings

Nevada Chart
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