Nevada Commerce Tax Draft Regulations Released: Comment Now!

Nevada has released draft regulations for the new Commerce Tax. Taxpayers and tax practitioners have until October 10th to submit comments. 

As I previously mentioned, the new Commerce Tax is similar to the Ohio CAT tax or the Washington B&O tax with deviation. The Commerce Tax uses market-based sourcing to source receipts from services, so out-of-state service providers must look closely at the impact of this new tax on their operations.

PwC has released a nice summary of the draft regulations and takeaways. Check it out here.