• August 4, 2019

Our recent 2019 legislative session has resulted in a change to commerce tax filing requirements.  When the commerce tax was instituted in 2017, every business was required to file an annual return with the Department of Taxation.  Senate Bill 497 (SB 497) has removed the requirement for certain business entities from filing an annual commerce tax return with the Department of Taxation—specifically, those with a gross revenue of $4,000,000 or less no longer need to file a return. The law is effective for the 2018-2019 taxable year as well as future tax years. If the Nevada gross revenue for a business from July 1, 2018 through June 30, 2019 was over $4,000,000, that business is still required to file a commerce tax return on or before August 14th, 2019. In the event that an entity’s gross revenue exceeds the $4,000,000 threshold in a future year, it is the business owner’s responsibility to file a return for the year. Failure to file may result in the assessment of penalty and interest.

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