Grants

Catalyst Fund:  This discretionary program offers post-performance transferable tax credits to support business attraction and expansion projects that involve significant capital investment and job creation.   Funds are disbursed in equal installments over a 5-year period.

TAX ABATEMENTS

Modified Business Tax Abatement:  New businesses that make a capital investment of at least $1 million in Clark (Las Vegas) or Washoe (Reno/Sparks) counties and create at least 50 jobs with wages at or above the statewide average may receive a 50% abatement of the Modified Business Tax.  Existing businesses that expand in Clark or Washoe counties as well as new or expanding businesses located in Nevada’s rural counties (defined as the rest of the state) may also receive a partial abatement and are subject to lower capital investment and job creation thresholds.  The Modified Business Tax is imposed by the state on employers and is equal to 1.475% on taxable wages over $50,000 in a quarter. Qualifying businesses may receive the abatement for up to 4 years. 

Partial Sales and Use Tax Abatement:  New businesses that make a capital investment of at least $1 million in Clark or Washoe counties and create at least 50 jobs with wages at or above the statewide average may receive a partial abatement of sales and use taxes for the purchase of capital equipment.   The abatement is equal to approximately 75% to result in an effective sales and use tax rate of 2%. Existing businesses that expand in Clark or Washoe counties as well as new or expanding businesses located in Nevada’s rural counties may also receive a partial abatement and are subject to lower capital investment and job creation thresholds. 

Personal Property Tax Abatement:  New manufacturing businesses that make a minimum capital investment of $5 million in Clark or Washoe counties and non-manufacturing businesses that are new to Nevada and make a minimum capital investment of $1 million may receive a 10-year, 50% abatement on business personal property taxes.  To qualify for the incentive, a business must create at least 50 jobs with wages at or above the statewide average. Existing businesses that expand in Clark or Washoe counties as well as new or expanding businesses located in Nevada’s rural counties may also receive a partial abatement and are subject to lower capital investment and job creation thresholds. 

Data Center Tax Abatement: Companies that build new data centers or expand existing operations may receive abatements equal to 75% of sales and use taxes and 75% of business personal property taxes for up to 20 years.  To qualify, a business must invest at least $25 million over 10 years for new and expanded facilities or $100 million over 20 years.  A minimum of 10 jobs with wages that meet or exceed the statewide average must be created to receive the 10-year abatement.  To be obtain the 20-year abatement, a company must create at least 50 jobs with wages that are at or above the statewide average.

JOB TRAINING

WINN: The Workforce Innovation for the New Nevada (WINN) program helps fund job training programs for qualifying employers. 

 

Last updated: May 2017


 
BIGGINS LACY SHAPIRO & COMPANY
 
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