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By Sean Whaley | Nevada News Bureau
CARSON CITY — Nevada may have fewer tax incentive programs than other Western states, but the Silver State has a generous tax structure, according to report from the Council of State Governments.
Nevada does not have a personal income tax, unitary tax, corporate income tax, inventory tax, estate and/or gift tax, franchise tax, inheritance tax or special intangible tax, notes the report titled “Trends in Western State Business Incentives” released Wednesday by CSG.
The report found that Nevada does offer some incentives, including sales tax abatements on capital equipment purchases, a sales and use tax deferral on capital equipment purchases, abatements on personal and modified business taxes, and real property tax abatements for recycling.
In addition, the Nevada Train Employees Now Program provides short-term, skills-based intensive job training to assist new and expanding firms to reach their productivity goals quickly.
“While state leaders may not agree on what strategy is best when it comes to reviving our economies, learning how our neighbors are innovating and pushing through tough fiscal times can help guide us as we move forward,” said state Assemblywoman Debbie Smith, D-Sparks, chairwoman of CSG West Fiscal Affairs Committee.
Read the complete story at the Nevada News Bureau.
