Nevada likes to market itself as a low tax jurisdiction, touting the fact that "Nevada does not impose income tax on domestic or foreign corporations." It may not impose a tax on income, but it does impose a tax on "commerce". This new tax is imposed on businesses with a "Nevada gross revenue" exceeding $4 million in the taxable year. A business entity engaged in business in Nevada is required to file a commerce tax return, regardless of liability on before the 45th day following the end of the fiscal year ending June 30. NRS 363C.200(2). The law was enacted in 2015 and the first return was due August 15, 2016.
The amount of the tax is determined by subtracting $4,000,000 from the "Nevada gross revenue" of the business entity for the taxable year and multiplying by a percentage based on the business category. NRS 363C.300. For example, the percentage for the manufacturing category is 0.091 percent. NRS 363C.350. There is no maximum tax. "Nevada gross revenue" is defined as the gross revenue of a business entity from engaging in a business in Nevada, as adjusted pursuant to NRS 363C.210 and "sitused" to Nevada pursuant to NRS 363C.220.