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Attention Nevada Businesses: Changes to the Commerce Tax Filing Requirements

Our recent 2019 legislative session has resulted in a change to commerce tax filing requirements.  When the commerce tax was instituted in 2017, every business was required to file an annual return with the Department of Taxation.  Senate Bill 497 (SB 497) has removed the requirement for certain business entities from filing an annual commerce tax return with the Department of Taxation—specifically, those with a gross revenue of $4,000,000 or less no longer need to file a return. The law is effective for the 2018-2019 taxable year as well as future tax years. If the Nevada gross revenue for a business from July 1, 2018 through June 30, 2019 was over $4,000,000, that business is still required to file a commerce tax return on or before August 14th, 2019. In the event that an entity’s gross revenue exceeds the $4,000,000 threshold in a future year, it is the business owner’s responsibility to file a return for the year. Failure to file may result in the assessment of penalty and interest.

Cassell von Baeyer

Cassell von Baeyer is a partner at the Incline Law Group, LLP. Incline Law Group, LLP - Providing Legal Clarity for Over 40 Years Incline Law Group, LLP, is committed to providing legal clarity. Our transparent approach to delivering legal services is designed to get beneath the surface of the matter in order to minimize surprises and maximize our clients’ outcomes. Founded in 1973 by John C. Rogers, Incline Law Group has earned a reputation for professionalism, discretion, honesty, diligence and positive results. Our attorneys are licensed in Nevada and California and have been providing legal clarity in the areas of Real Estate, Litigation, Family Law, Contracts, Business Formation and Estate Planning for over 40 years to our Northern Nevada and California communities. Cassell has been practicing law for 16 years and is licensed to practice in all courts of California and Nevada. Cassell's areas of practice include: -Real Estate transactions (commercial and residential) -Purchase and sale of real property -Commerce development -Common interest community developments and homeowner's association matters -Commercial development -Leases -Easements -Construction contracts -Mechanics liens -Land use -Distressed real estate, including judicial foreclosure -Business Entities and Transactions - formation and administration of business entities -Contracts -Real property -Business -Licensing agreements -Construction Cassell is a member of The State Bar of Nevada, The State Bar of California and the Washoe County Bar Association.

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