AB 276
Revises provisions governing the commerce tax. (BDR 32-192)
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Bill overview
This bill changes how Nevada’s commerce tax is calculated. Currently, businesses with Nevada gross revenue exceeding $4 million pay the tax, but this threshold is being eliminated. Instead, a new revenue threshold will be established annually, based on the previous year’s threshold plus an adjustment calculated using the Consumer Price Index. Businesses with revenue below this threshold will no longer need to file a commerce tax return. The bill also prohibits businesses from using a different revenue threshold than the one calculated and published by the Department of Taxation, and prevents interest from being paid on overpayments resulting from using an incorrect threshold.
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