Successor Liability – Nevada Sales and Use Tax

August 26th, 2021 by

When buying a Nevada business, you as buyer become liable for any unpaid amounts due the Nevada Department of Taxation (NDT) per NRS 360.525.  In fact, under that statute you are required to withhold the amount due the NDT from the purchase price paid to seller.  Your failure to do so results in you being personally […]

Nevada Department of Taxation Registration

October 29th, 2019 by

We run into many business owners who believe that the state business license, issued by the Nevada Secretary of State (NVSOS), is all they need to properly transact business in our state.  Not so. First, what does it mean to “transact business?”  The law is written such that you should assume you are, in fact, […]

ITINs, EINs, and Responsible Parties

October 19th, 2016 by

In order to open a bank account for your business entity, you have to present Articles of Organization/Incorporation and an EIN, which is an Employer Identification Number issued by the IRS.  In order to apply for an EIN number, you have to supply the EIN, ITIN, or Social Security Number of a “Responsible Party” for […]

Clark County Real Property Transfer Tax

November 21st, 2015 by

If you’ve ever purchased or sold real property in Nevada in the last 50 years, you’ve probably come across Real Property Transfer Tax. The state of Nevada imposed the Real Property Transfer Tax (“RPTT”) in 1968. Pursuant to NRS Chapter 375, RPTT applies to the transfer of all real property in each county of Nevada, […]

Nevada Consumer Use and Sales Tax Returns

November 10th, 2014 by

If you’re doing business in Nevada, you have to register with the Nevada Department of Taxation for either a sales tax permit or a use tax permit.  If you’re selling tangible goods, you’ll need a sales tax permit. If you aren’t, like many service providers, you’ll need a consumer use tax permit. With a sales […]

Nevada Commerce Tax

August 3rd, 2014 by

UPDATE: August 1, 2016 Welp, despite the Margin Tax having been soundly defeated by Nevada voters last November (see below), we are now stuck with the Nevada Commerce Tax.  It’s not as onerous a tax, but bears enough resemblance to the Margin Tax that many small business owners have posted legislators’ headshots to their office […]

Nevada DETR Audits – What You Need to Know

April 15th, 2014 by

Have you received an audit notice from the Nevada Department of Employment, Training, and Rehabilitation (DETR)?  Try not to panic.  Here’s what you should know: The purpose of the audit is to verify that the numbers reported to DETR match the numbers in your books.  The letter you received lists a bunch of documents the auditor […]

How to Start a Business in Las Vegas – Video Series

April 24th, 2013 by

I’m Gina Bongiovi. I’m a lawyer who works with startups and small businesses. Whether you’re in the startup phase or whether you just have an idea rolling around in your head you might want to turn in to a business one day, you need to know how to start a business in Las Vegas. If […]

IRS Issues Guidance on Tax Treatment of Cell Phones; Provides Small Business Recordkeeping Relief

September 27th, 2011 by

September 14, 2011 From the IRS NewsWire, issue IR-2011-93   WASHINGTON — The Internal Revenue Service today issued guidance designed to clarify the tax treatment of employer-provided cell phones. The guidance relates to a provision in the Small Business Jobs Act of 2010, enacted last fall, that removed cell phones from the definition of listed property, […]

Burdensome 1099 Rule Repealed

April 23rd, 2011 by

Last year I wrote about a rule buried deep within the cavernous provisions of the healthcare reform act which would have required small businesses to file 1099 forms for every purchase over $600.  Small business owners across the nation could be heard grumbling about the provision, which would have placed an additional administrative burden on […]