BUSINESS INCENTIVES& Financing Programs 
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| Nevada is one of the lowest taxed states in the country, offering a tax structure that is less burdensome to both business and its employees. Nevada has no corporate income tax; personal income tax; unitary tax; franchise tax; inventory tax; inheritance , estate and/or gift tax; or special intangible tax. The following incentives and financing programs offer a variety of opportunities to new and expanding companies. | |
| SALES & USE TAX ABATEMENT | An abatement of sales and use tax on eligible machinery and equipment may be given to businesses whose operations are consistent with Nevada's state plan for economic diversification and development. Qualifying criteria for certification by the Commission on Economic Development includes a commitment to doing business in Nevada, minimum job creation, employee health plans and wage requirements. |
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BUSINESS TAX ABATEMENT |
Partial exemptions from business tax may be obtained by new and expanding businesses that meet the overall objectives of the State's plan, Focus 2000. There are a number of statutory requirements and commission criteria that must be met to qualify including a minimum number of jobs created, a minimum capital investment, wage and fringe benefit requirements |
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PROPERTY TAX ABATEMENT |
Qualified recycling businesses that engage in the primary trade of preparing, fabricating, manufacturing or otherwise processing raw materials or an intermediate product through a process in which at least 50 percent of the materials or product is recycled on site may be certified for a 75 percent personal property tax abatement. Personal property is exempt from taxation for up to 10 consecutive years to the extent that the property is used as a facility for the production of electrical energy from waste material. A real property exemption also applies for up to 20 consecutive years for property used for the same purpose. |
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PROPERTY TAX EXEMPTIONS |
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SALES TAX DEFERRAL |
The State of Nevada offers a sales and use tax deferment program to qualifies industries that purchase specific types of capital equipment in excess of $100,000. Taxes can be deferred interest-free over a five-year period. |
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SALES TAX EXPEMPTION |
Certain aircraft are exempted from taxes imposed on gross receipts from the sale of aircraft and major components. |
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JOB TRAINING |
Nevada offers a job-training program to qualified businesses that meet established criteria. The program may be used prior to a plant opening and up to 90 days following. The program will pay up to 75% of a qualified company's training costs, with the company contributing the remainder in either cash or an in-kind match. |
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INDUSTRIAL DEVELOPMENT REVENUE BOND PROGRAM |
The program provides a mechanism to help companies to expand or build new facilities through the use of tax exempt financing, including composite tax-exempt bonds for manufacturing programs. The program can provide low cost, long-term tax-exempt financing for land, building, improvements and capital equipment to firms that incur $1-$20 million. Contact Larry Strive, Chief of Business, Finance and Planning, Department of Business and Industry, 1665 Hot Springs Road, Carson City, Nv 89710 |
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NEVADA DEVELOPMENT CAPITAL CORPORATION |
The Nevada Development Capital Corporation (NDCC) is a private for-profit development fund designed to finance the growth opportunities of sound Nevada Firms throughout the state who, in turn, create good jobs and expand and diversify the economy. NDCC will not finance start-up enterprises. Contact: Bobbi Bennett, President, Nevada State Development Corporation, 6572 S. McCarran Blvd, Reno, Nevada, 89501 (775)826-6172 nsdc-loans.com |
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SOUTHERN NEVADA CERTIFIED DEVELOPMENT COMPANY |
This non-profit certified development company packages SBA 504 and 7(a) loans in Southern Nevada. Contact Tom Gutherie, President/CEO, Southern Nevada Certified Development Company, 2770 S. Maryland parkway, Suite 212, Las Vegas, Nv 89109 (702)732-3998 |
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NEVADA SELF-EMPLOYMENT TRUST |
The Nevada Self-Employment Trust is the micro-enterprise development program of the Nevada's Women's fund, a non-profit organization based in Reno, Nevada. NSET's mission is to enhance the economic self-sufficiency of low and moderate-income women and men by developing entrepreneurial skills through training, technical assistance and access to credit. The programs designed by NSET provide participants with positive role models, leadership development and economic empowerment. NSET's programs provide women and men with business skills as well as life skills. A first-time borrower an borrow from $100 to $5,000 with a maximum l9oan of $25,000 for a period of up to 36 months. Contact Nevada Self-employment Trust, PO Box 50428, Reno, Nv 89513 (775)329-6789 |
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NEVADA REVOLVING LOAN FUND PROGRAM |
The Nevada Revolving Loan Fund assists small businesses in Rural Nevada in obtaining "gap" financing to complete their business expansion project. Loans may be used for any business expansion need, especially purchases of machinery equipment, inventory and working capital. Up to $100,000 is available to Nevada businesses that cannot secure 100% financing from commercial lenders. The rates and terms are tailored to the particular needs of the business with rates generally below prime and terms amortized up to fifteen years. The program requires the sponsorship for the local government and must meet job creation requirement, including the hiring and training of persons from low-to moderate-income households. Contact: Audrey Allen, Grant Manager, Nevada Commission on Economic Development, 5151 S. Carson Street, Capitol Complex, Carson City, Nv 89710 (775)687-4325 |
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NEVADA STATE DEVELOPMENT CORPORATION |
The Nevada State Development Corporation offers Small Business Administration (SBA) 503/504 and 7(a) loans. This program provides long-term, fixed rate, low down payment, second mortgage financing for real estate and fixed assets to owner operated businesses. NSDC as a certified develo9pment company, is authorized by the SBA to offer and package loans and obtain private sector, first mortgage financing and SBA second mortgage approval statewide. This program provides SBA guarantees for up to 90 percent on loans made by banks to businesses for a wide range of financing purposes. NSDC assists borrowers in packaging their loan requests. Contact: Roberta Bennett, President, Nevada State Development Corporation, 6572 S. McCarran Blvd, Reno, Nevada, 89501 (775)826-6172 nsdc-loans.com |
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STATE PUB LIC EMPLOYEES RETIREMENT SYSTEM |
A potential source of venture capital in Nevada is the State Public Employees Retirement System (PERS), which invests money in established venture capital pools. Contact: George Pyne, Executive Officer, Public Employees Retirement System, 693 West Nye Lane, Carson City, NV 89701 (775)687-4208 |
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U.S. DEPARTMENT OF AGRICULTURE RURAL DEVELOPMENT |
Formerly the Farmer's Home Administration, USDA's Rural Development program offers business and industrial loan guarantees specifically for rural areas. The program guarantees lenders up to 90% for loans of $2 million or less, 80% for loans over $2 million but not over $5million, and 70% for loans over $5 million. Contact: Sarah Mersereau Adler, State Director, U.S. Department of Agriculture, 1390 S. Curry Street, Carson City, Nevada 89703 (775)887-1222 |
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RURAL NEVADA DEVLEOPMENT CORPORATION (RNDC) |
TNDC is a business finance and community development agency established to provide business loans, business assistance and housing rehabilitation services. RNDC will lend to rural small businesses in need of expansion or start-up financing. Funds are targeted for the expansion financing for existing, non-retail rural businesses; however, start-up businesses may also be considered. Intermediary Relending Program (IRP) funds address the capital gap for rural businesses, and should leverage and encourage bank participation in rural business loans. Contact: Ferrel Hansen, Executive Director, Rural Nevada Development corporation, PO Box 338, Ely Nevada 89301 (775)289-8519 |
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LAND-BASED INCENTIVES |
A recent change to the state law now allows Nye County to enter into public/private development partnerships. Nye County is currently organizing a Regional Development Corporation as the method of instituting use of public land for development. Contact EDEN for further information. |
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