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STATE OF NEVADA DEPARTMENT OF TAXATION

MODIFIED BUSINESS TAX. MODIFIED BUSINESS TAX. Business entities are subject to Modified Business Tax in one of two categories:General ? NRS 363BFinancial Institutions ? NRS 363A. Who is required to be registered?Any business who is required to pay a contribution pursuant to NRS 612.535except???Indian TribeNonprofit organization under 26 U.S.C. 501(c)Political subdivision.

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STATE OF NEVADA DEPARTMENT OF TAXATION

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    1. STATE OF NEVADA DEPARTMENT OF TAXATION

    2. MODIFIED BUSINESS TAX

    3. MODIFIED BUSINESS TAX Business entities are subject to Modified Business Tax in one of two categories: General – NRS 363B Financial Institutions – NRS 363A

    4. Who is required to be registered? Any business who is required to pay a contribution pursuant to NRS 612.535 except……… Indian Tribe Nonprofit organization under 26 U.S.C. 501(c) Political subdivision

    5. What to report? Wages taken from Employment Security Department (ESD) form NUCS 4072, line 3 What to deduct? Deductions for employer-paid health insurance allowed MODIFIED BUSINESS TAX

    6. Employer-paid insurance deduction includes: Self-insured employer: all amounts paid for claims, premiums, stop-loss, if the program is a qualified employee welfare benefit plan 2. Premiums for a policy of health insurance for employees 3. Payments to a Taft-Hartley trust MODIFIED BUSINESS TAX

    7. Employer-paid insurance deduction DOES NOT include: Amounts paid by the employee Workmen’s compensation insurance Life insurance Disability MODIFIED BUSINESS TAX

    8. Categories and Rates General………………… Taxable wages up to $62,500 in a calendar quarter 0.5% Taxable wages over $62,500 in a calendar quarter 1.17% Effective 7/1/2009, expires 6/30/2011 Financial………………… 2.000% MODIFIED BUSINESS TAX

    9. MODIFIED BUSINESS TAX

    10. How is my business classified? NAICS code (North American Industry Classification System)

    11. Wages

    12. Health Benefit Deduction

    13. Health Benefit Deduction MODIFIED BUSINESS TAX

    14. Returns, Penalties, Interest

    15. Returns are due by the last day of the month following the quarter in which the tax was due (NRS 363B.110, NRS 363A.130) (example: quarter ended September 30, return is due by October 31) Up to 10% penalty if late (NRS 360.417) Interest calculated at 1% per month on unpaid balance (NRS 360.417) MODIFIED BUSINESS TAX

    16. Written Response Most tax issues can be addressed by the Department of Taxation. Please be advised that any responses to inquires made to the Department are only binding if put in writing, such as Nevada Revised Statutes, Administrative Code, Nevada Tax Notes, or in written correspondence.

    17. DEPARTMENT OF TAXATION Contact Information Our offices are open Monday-Friday 8:00 AM – 5:00 PM

    18. MORE QUESTIONS? Contact your Nearest Office: 702-486-2300 (Southern Nevada) 775-684-2000 (Carson City) 775-688-1295 (Reno) 775-753-1115 (Elko) Department of Taxation website: http://www.tax.state.nv.us/ Taxpayer “What You Need to Know” questions and answers Nevada Tax Notes Copies of blank returns

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