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Nevada

A guide to help you understand the ins and outs of business in Nevada

Overview

Nevada is a western state; one of three states that shares a border with California. Nevada’s state capital is Carson City, but its largest city is Las Vegas. Although Nevada is the 7th largest state in the United States, it only has 3.08 million people, which makes it the 32nd most populated state. In 2019 Nevada’s GDP was $178,199,000,000.

Aerospace and defense, health, IT, manufacturing, mining, natural resource tech, and tourism and gaming are the largest industries in Nevada.

In 2019, Nevada imported $135,901 from Qatar. In 2019, Nevada exported $4,621,443 to Qatar with its top exports being: Nuclear reactors, boilers, machinery, etc. Electric machinery, sound/tv equipment Optic, photo, medical/surgical instruments

Nevada does not have a corporate income tax. However, it does have a commerce tax, which it states, “is a tax on a privilege of engaging in business in Nevada.” The state implements its commerce tax on entities “whose Nevada gross revenue in a taxable year exceeds $4,000,000 is required to file the Commerce Tax return.” Nevada offers 16 incentive programs like the Workforce Innovations for the New Nevada (WINN) and Silver State Works Employee Hiring Incentive. Nevada also has two free trade zones, located in Las Vegas and Reno.

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