White Paper

Commerce Tax in Nevada - How We Got Here

 
Commerce Tax Generally – The Commerce Tax is a gross revenue tax on each business in Nevada whose “Nevada Gross Revenue” in a fiscal year exceeds $4,000,000. The rates for the tax fluctuate between 0.051% and 0.331% depending on the entities’ NAICS classification code. The State projects that this tax and the other tax revisions associated with Senate Bill 483 will raise $1.5 billion dollars in revenue (in conjunction with other tax revisions/changes passed by SB 483). Assuming even the highest marginal rate of 0.331% (or 1/3 of one percent) for rail transportation, and that all of the $1.5 billion dollars in revenue comes from the Commerce Tax, such a tax estimate will require an additional taxable measure within the state of $453 billion dollars. With most rates hovering around 0.1% (or 1/10 of one percent) the increased revenue projection anticipates an increase in taxable measure of $1.5 trillion dollars. This is obviously overestimated considering that each of the commerce tax filers is able to clear $4 million dollars of Nevada Gross Revenue from their taxable measure calculation immediately.

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Jed Bodger is general counsel and tax director at the Hamilton Company. He oversees federal and state tax compliance, including commerce tax compliance. Mr. Bodger is a past attorney to the Nevada Department of Taxation.

Faculty

Jed Bodger

Hamilton Company

Agenda

Faculty

Jed Bodger

Hamilton Company

  • General counsel and tax director at the Hamilton Company
  • Oversees federal and state tax compliance, including commerce tax compliance
  • Past attorney to the Nevada Department of Taxation
  • Written numerous articles on state and local taxation
  • LL.M. degree, cum laude, Northwestern University; J.D. degree, Temple University; B.A. degree, cum laude, McKeon Scholar Athlete of the year, Saint Mary’s College of California

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