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Honest ~ Accurate ~ Punctual
Tax Changes
Important Changes For Business Owners
Clark County Sales Tax Increase - Effective 07/01/09 sales tax changes from 7.75% to 8.10%. Be sure to begin charging the correct amount as of 07/01/09 or you may have to pay the difference to the Nevada Department of Taxation plus interest and penalties.
Nevada State Business License Fee Increase - Effective 07/01/09 the fee for new business licenses and businesses renewing their business license will be increased from $100 per year to $200 per year. However on 07/01/11 the Nevada State Business License fee will change back to $100 per year.
Nevada State Business License Department Change - Effective 10/01/09 the Nevada Department of Taxation will no longer be handling Nevada State Business Licenses. This service will be transferred over to the Nevada Secretary of State's Office in Carson City, Nevada.
Modified Business Tax Fee Changes - This is a payroll tax paid by the employer on a quarterly basis. Currently the rate is 0.63% of the gross wages less health care deductions for the payroll. The new rate will be less at 0.50% as long as the sum of the wages is less than $62,500 for the quarter. If the quarterly wages are more than $62,500 then the new Modified Business Tax rate will be $312.50 plus 1.17% of the amount that the wages exceed $62,500
Nevada Minimum Wage Increase - The Following is a breakdown of the new Minimum Wage rates and their effective dates.
Through 06/30/09
$6.55 (With Qualifying Health Care Benefits) - Nevada State is currently $5.85, but the Federal rates take precedence over the State rates.
$6.85 (Without Qualifying Health Care Benefits)
Effective 07/01/09
$6.55 (With Qualifying Health Care Benefits)
$7.55 (Without Qualifying Health Care Benefits)
Through 07/23/09
$6.55 (Current Federal Rate)
$7.25 (Effective 07/24/09 the Federal Rate Increases)
Effective 07/24/09
$7.25 (With Qualifying Health Care Benefits) - Nevada State is $6.55 as of 07/01/09 but the Federal rates take precedence.
$7.55 (Without Qualifying Health Care Benefits)
Nevada Overtime - The following is how overtime is to be paid in the State of Nevada Overtime is 1.5x the Hourly Rate When the Employee Exceeds 40 Hours in a Work Week.
Exception - If an employee’s hourly rate is less than 1.5x minimum wage (Currently $9.83 with Heath Care Benefits and $10.28 Without Health Care Benefits) Overtime is paid after 8 hours in a day.
Nevada State Business License Fee Increase - Effective 07/01/09 the fee for new business licenses and businesses renewing their business license will be increased from $100 per year to $200 per year. However on 07/01/11 the Nevada State Business License fee will change back to $100 per year.
Nevada State Business License Department Change - Effective 10/01/09 the Nevada Department of Taxation will no longer be handling Nevada State Business Licenses. This service will be transferred over to the Nevada Secretary of State's Office in Carson City, Nevada.
Modified Business Tax Fee Changes - This is a payroll tax paid by the employer on a quarterly basis. Currently the rate is 0.63% of the gross wages less health care deductions for the payroll. The new rate will be less at 0.50% as long as the sum of the wages is less than $62,500 for the quarter. If the quarterly wages are more than $62,500 then the new Modified Business Tax rate will be $312.50 plus 1.17% of the amount that the wages exceed $62,500
Nevada Minimum Wage Increase - The Following is a breakdown of the new Minimum Wage rates and their effective dates.
Through 06/30/09
$6.55 (With Qualifying Health Care Benefits) - Nevada State is currently $5.85, but the Federal rates take precedence over the State rates.
$6.85 (Without Qualifying Health Care Benefits)
Effective 07/01/09
$6.55 (With Qualifying Health Care Benefits)
$7.55 (Without Qualifying Health Care Benefits)
Through 07/23/09
$6.55 (Current Federal Rate)
$7.25 (Effective 07/24/09 the Federal Rate Increases)
Effective 07/24/09
$7.25 (With Qualifying Health Care Benefits) - Nevada State is $6.55 as of 07/01/09 but the Federal rates take precedence.
$7.55 (Without Qualifying Health Care Benefits)
Nevada Overtime - The following is how overtime is to be paid in the State of Nevada Overtime is 1.5x the Hourly Rate When the Employee Exceeds 40 Hours in a Work Week.
Exception - If an employee’s hourly rate is less than 1.5x minimum wage (Currently $9.83 with Heath Care Benefits and $10.28 Without Health Care Benefits) Overtime is paid after 8 hours in a day.
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