Nevada 1 of 7 States No Income Tax

Continuing the Nevada tax environment theme this week, our Daily Snippet: Nevada is one of only seven states with no individual income tax (See Tax Foundation for list of states and income tax rates)

Critics of a newly proposed business tax of 2% on companies raking in over $1 million in revenue are suggesting this tax would be a “back-breaker.” How does this claim stack up to the facts about Nevada’s existing tax structure, compared to other states surrounding Nevada? Another quick fact: all the states surrounding Nevada have both an individual and business tax. They must have strong backs.