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NEVADA Fast Facts

• Population (2006): 2,495,529
• Largest Cities (2006): Las Vegas, 552,539; Henderson, 240,614; Reno, 210,255; North Las Vegas, 197,567; Sparks, 83,959
• Targeted Industries: Advanced Manufacturing, Logistics and Distribution, Renewable Energy, Financial Services, Life Sciences

• Key Incentives: Personal Property Tax Abatement, Sales and Use Tax Abatement, Sales Tax Deferral, Industrial Development Bonds, Renewable and Energy Storage Abatements

NEVADA State Incentives

A Sales and Use Tax Abatement on eligible machinery and equipment is available to businesses with operations consistent with Nevada's state plan for economic diversification and development. Qualifying criteria include a commitment to doing business in Nevada, minimum job creation, employee heath plans, and wage requirements.

Renewable and Energy Storage Abatements are available for companies involved in the production of energy from renewable sources such as wind, solar, and others, or a facility for the production of an energy storage device. The package of abatements includes sales/use tax and property tax.

Modified Business (Payroll) Tax Abatements provide partial abatement from the payroll tax for new and expanding businesses. Statutory requirements, which must be met to qualify, include a minimum number of jobs created, a minimum capital investment, and wage and employee health plan requirements. Taxes may be abated by 50% for up to four years.

Nevada is authorized to use tax-exempt Industrial Development Bonds (IDBs) to provide low-interest financing of new construction, improvements, rehabilitation, or redevelopment of qualified projects, which include manufacturing facilities and certain other projects organized under Section 501 of the Internal Revenue Service code.

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