Taxes in Nevada

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Subject Author Date Taxes in Nevada W 09-26-2009  Re: Taxes in Nevada Alan 09-26-2009  Re: Taxes in Nevada W 09-26-2009  Re: Taxes in Nevada Alan 09-26-2009  Re: Taxes in Nevada D.F. Manno 09-26-2009  Re: Taxes in Nevada Wallace 09-26-2009
Posted by W on September 26, 2009, 2:37 am Please log in for more thread options Based on the fact Nevada has no income tax, I thought of it as a low tax environment. Apparently they make up for the lack of income tax in other ways? Besides sales tax, what kinds of taxes would a wage earner have in Nevada? -- W -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by Alan on September 26, 2009, 12:33 pm Please log in for more thread options W wrote: > Based on the fact Nevada has no income tax, I thought of it as a low tax > environment. Apparently they make up for the lack of income tax in other > ways? Besides sales tax, what kinds of taxes would a wage earner have in > Nevada? > See the link below and the referenced documents in that link for overall tax burdens by state. I believe that Nevada has the second lowest burden behind Alaska. Taxes you could be subject to directly or indirectly in Nevada include: sales & use tax, tobacco tax, liquor tax, property tax, fuel tax, live entertainment tax, bank branch excise tax, modified business tax, insurance premium tax, tax on short term automobile rentals and finally a tax of $1 for each new tire you buy. I'm not sure where Nevada stands on the issue of estate taxes but I believe they used a pick-up tax equal to the state tax credit under federal law. As that credit is now zero, there would no longer be an estate tax. http://www.retirementliving.com/RLtaxburdens.html -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by W on September 26, 2009, 4:16 pm Please log in for more thread options > W wrote: > > Based on the fact Nevada has no income tax, I thought of it as a low tax > > environment. Apparently they make up for the lack of income tax in other > > ways? Besides sales tax, what kinds of taxes would a wage earner have in > > Nevada? > > > See the link below and the referenced documents in that link for > overall tax burdens by state. I believe that Nevada has the > second lowest burden behind Alaska. > > Taxes you could be subject to directly or indirectly in Nevada > include: sales & use tax, tobacco tax, liquor tax, property tax, > fuel tax, live entertainment tax, bank branch excise tax, > modified business tax, insurance premium tax, tax on short term > automobile rentals and finally a tax of $1 for each new tire you buy. > > I'm not sure where Nevada stands on the issue of estate taxes but > I believe they used a pick-up tax equal to the state tax credit > under federal law. As that credit is now zero, there would no > longer be an estate tax. > > > http://www.retirementliving.com/RLtaxburdens.html I have seen this web site and also the taxfoundation.org review of state taxation before. The problem is they don't break down the type of tax per state. For example, the article here: http://www.taxfoundation.org/files/sr163.pdf show what is the per capita income per state. But it doesn't show the basis for that calculation. How much of the tax is income tax; how much is property tax; how much is sales tax, etc. They break down those things across all states, but not per state. What you really need is something like a formula that could then be applied to given wage earner profile, given a particular type of property ownership, etc. -- W -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by Alan on September 26, 2009, 4:33 pm Please log in for more thread options W wrote: >> W wrote: >>> Based on the fact Nevada has no income tax, I thought of it as a low tax >>> environment. Apparently they make up for the lack of income tax in > other >>> ways? Besides sales tax, what kinds of taxes would a wage earner have > in >>> Nevada? >>> >> See the link below and the referenced documents in that link for >> overall tax burdens by state. I believe that Nevada has the >> second lowest burden behind Alaska. >> >> Taxes you could be subject to directly or indirectly in Nevada >> include: sales & use tax, tobacco tax, liquor tax, property tax, >> fuel tax, live entertainment tax, bank branch excise tax, >> modified business tax, insurance premium tax, tax on short term >> automobile rentals and finally a tax of $1 for each new tire you buy. >> >> I'm not sure where Nevada stands on the issue of estate taxes but >> I believe they used a pick-up tax equal to the state tax credit >> under federal law. As that credit is now zero, there would no >> longer be an estate tax. >> >> >> http://www.retirementliving.com/RLtaxburdens.html > > I have seen this web site and also the taxfoundation.org review of state > taxation before. The problem is they don't break down the type of tax per > state. For example, the article here: > > http://www.taxfoundation.org/files/sr163.pdf > > show what is the per capita income per state. But it doesn't show the > basis for that calculation. > > How much of the tax is income tax; how much is property tax; how much is > sales tax, etc. They break down those things across all states, but not > per state. > > What you really need is something like a formula that could then be applied > to given wage earner profile, given a particular type of property ownership, > etc. > The detail information you desire is not available and I don't foresee it becoming available as there are two many variables. If you are interested in the relative difference in cost of living by state given a certain salary, that information is available. Try http://swz.salary.com/costoflivingwizard/layoutscripts/coll_start.asp -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by D.F. Manno on September 26, 2009, 4:15 pm Please log in for more thread options > Based on the fact Nevada has no income tax, I thought of it as a low tax > environment. Apparently they make up for the lack of income tax in other > ways? Yes, Nevada does. It's called "casinos." -- D.F. Manno | dfmanno@mail.com "...the work goes on, the cause endures, the hope still lives, and the dream shall never die." -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Similar Threads Posted taxes due CA or Nevada April 9, 2007, 3:29 am any taxes for foreigners to incorporate in Nevada or Delaware??? 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