The Nevada 2021 Tax Amnesty Program will begin February 1, 2021 through May 1, 2021, which allows eligible businesses and individuals to pay outstanding tax without being assessed penalties and interest. The Nevada Legislature approved the program as part of Senate Bill 3, during the 31st Special Session.1
Eligibility
Those businesses and individuals who owe taxes for period end dates of March 31, 2020 and prior (due on or before April 30, 2020 for quarterly filers), and for period end dates of May 31, 2020 and prior (due on or before June 30, 2020 for monthly filers), which have not been paid, are eligible for the program.2
However, businesses or individuals that are in bankruptcy and have entered into a compromise or settlement agreement with the Department of Taxation or Nevada Tax Commission regarding the unpaid tax, fee, or assessment are not eligible for the program. Further, the tax must be paid in full during the open period for amnesty (waiver of penalties and interest) to apply.3
Tax Types
Tax types that are included in the program are Sales and Use Tax, Modified Business Tax, Cigarette Tax, Other Tobacco Products Tax, Liquor Tax, Bank Branch Excise Tax, Insurance Premium Tax, Tire Tax, Live Entertainment Tax (non-gaming), Short-Term Lessor (Passenger Car) and Exhibition Facilities Fees, Commerce Tax, Transportation Connection Tax, Wholesale Marijuana Excise Tax, Retail Marijuana Excise Tax, Property Tax that is centrally assessed, and net proceeds of Mineral Tax.4 However, Lodging Tax, Real Property Transfer Tax, and Property Tax that is locally assessed are excluded from the program.5
For more information on the 2021 Tax Amnesty Program, please contact a Ryan National Tax Professional to assist you. For up-to-date information on all things tax in Nevada, as well as other states, please refer to Ryan News & Insights.
12020 Nevada S.B. 3, 31st Special Session § 10, Public Law Chapter 4; 2020 Tax Amnesty Program, Nevada Department of Taxation website located at https://tax.nv.gov/Home/Features/Nevada_s_Tax_Amnesty_Program/; 2020 - 2021 Tax Amnesty FAQs, Nevada Department of Taxation website located at https://tax.nv.gov/FAQs/Tax_Amnesty_Program_FAQs/.
2 Id.
3 Id.
4 Id.
5 Id.
TECHNICAL INFORMATION CONTACTS:
Brian Stromen
Principal
Ryan
763.445.4200
brian.stromen@ryan.com
Lindsay Higgins
Manager
Ryan
781.359.3800
lindsay.higgins@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.