Here are some simple tax facts. In Nevada, there are fewer taxes and a lower tax burden than in most other states. That's why Nevada is on every list of the top tax havens. Just this year, Money magazine ranked Nevada as one of the states with the lowest tax bill and California Business magazine rated Nevada as best overall for business based on a review of several factors including a low tax burden. In Nevada, there is:
- No personal income tax
- No corporate income tax
- No inheritance, estate or gift tax
- No franchise tax
- No unitary tax
- No special intangible tax
- No chain store tax
- No admissions tax
- No inventory tax
The best state in the country overall for business is Nevada as quoted in California Business magazine. The magazine published the results of a 50 state survey which showed the pastures really are "greener on the other side of the state line."
A research team from California Business collected information on all 50 states. They brought together government statistics and private research reports and compared special interest data bases. Twenty different measures of state social, economic and business health were chosen as being of primary importance. Nevada was chosen largely because of its pro-business attitude. The study ranks Nevada high in the following areas:
- Overall business climate
- Lowest corporate profits tax
- Best overall economy
- Population growth
- Employment growth
- Lowest combined major state and local tax
- Number of new companies per 10,000 workers
- Gross state product (GSP) growth
- Number of environmental policy initiative in place
All of this goes to show that a move to Nevada is a move to the greener pastures of a top-ranked business climate.