Nevada tax amnesty program

| 1/28/2021
Nevada tax amnesty program

Nevada has enacted a tax amnesty program applicable to specific taxes. The amnesty period will run from Feb. 1, 2021, through May 1, 2021. The program allows for the abatement of penalties and interest for certain businesses and individuals doing business in the state with an existing tax liability.

Amnesty program criteria

The following types of taxes are eligible for the Nevada amnesty program:

  • Sales and use tax
  • Commerce tax
  • Modified business tax
  • Cigarette tax
  • Other tobacco products tax
  • Liquor tax
  • Bank branch excise tax
  • Insurance premium tax
  • Tire tax
  • Live entertainment tax (nongaming)
  • Short-term lessor tax (passenger car)
  • Exhibition facility fee
  • Transportation connection tax
  • Wholesale marijuana excise tax
  • Retail marijuana excise tax
  • Property tax that is centrally assessed
  • Net proceeds of mineral tax

The program applies only to the following tax periods:

  • For quarterly filers: Taxes owed for periods ending on or before March 31, 2020, that were due on or before April 30, 2020
  • For monthly filers: Taxes owed for periods ending on or before May 31, 2020, that were due on or before June 30, 2020

Nevada taxpayers can take advantage of the amnesty program to resolve issues relating to unfiled tax returns, tax returns filed without the payment of taxes, prior tax audits, significant untaxed purchases, or errors on previously filed tax returns. To qualify for the abatement of penalties and interest under the program, taxpayers must pay the outstanding tax in full during the amnesty period.

The amnesty program does not apply to any person or business that is in bankruptcy or has entered into a compromise or settlement agreement with the Nevada Department of Taxation or Nevada Tax Commission regarding the unpaid tax, fee, or assessment. The program also does not apply to a person or a business that is not able to pay the outstanding tax in full or to a business or individual currently under audit that does not receive a final deficiency determination before the last day of the amnesty period (May 1, 2021).

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Participating in the program

Beginning Feb. 1, 2021, taxpayers can file qualifying tax returns or pay tax due online for the relevant periods or download and complete the missing tax return forms, which are available on the Nevada Department of Taxation’s website.

An unregistered business must register with the Department of Taxation by applying online or by mailing a completed and signed Nevada Business Registration and Supplemental Registration form. Unregistered businesses must file qualifying tax returns for up to eight prior years, depending on when the business became subject to tax.

Looking forward

Nevada’s tax amnesty program presents an opportunity for taxpayers that have outstanding tax liabilities to come into compliance. Taxpayers should consult with their tax adviser to evaluate whether tax amnesty is right for them.

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