Best Tax Attorneys in Paradise

FAQs

• Where does the Tax Court hold trial sessions closest to Paradise, Nevada?

  The U.S. Tax Court trial location nearest to Paradise, Nevada, is Room 4-400 of the Foley U.S. Courthouse & Federal Building at 300 Las Vegas Blvd., Las Vegas, NV 89101.

• Where is the low-income taxpayer clinic that is closest to Paradise, Nevada?

  As there are no low-income taxpayer clinics in Nevada, residents of Paradise are advised to consult with the nearest IRS Taxpayer Assistance Center, located at 110 N City Pkwy, Las Vegas, NV 89106.

• Are Paradise residents required to pay income taxes?

  The residents of Paradise are not subject to income taxes, as Nevada does not collect both individual and corporate income taxes. However, the state does collect property taxes of 0.59% of owner-occupied properties’ housing value, with an average of $1,153 in tax collections per capita as of 2023. In 2020, Nevada derived 24.0% of its state tax revenue from property taxes.

• Are Paradise sales tax rates high?

  Although Paradise does not impose local taxes, its residents are subject to the highest sales tax rate allowed in the state, which is 8.375%. This figure, based on 2020 reports, comprises the Nevada state sales tax rate of 6.850% and the Clark County sales tax rate of 1.525%.

• Are Paradise business owners subject to taxes?

  Business owners in Paradise are subject to the Nevada Commerce Tax, which is imposed on entities with an annual gross income of more than $4 million. Although businesses with revenues less than $4 million do not have any taxes due, they are still required to file a Commerce Tax Return each fiscal year.

• What Paradise businesses are exempt from the Nevada Commerce Tax?

  Business entities in Paradise that are exempt from the Nevada Commerce Tax are grantor trusts, credit unions, passive entities, real estate mortgage investment conduits, and certain non-profit organizations. Also exempt are businesses that only own and manage intangible investments, such as patents, trademarks, stocks, and bonds. These entities must file an Exempt Status Entity Form with the Nevada Secretary of State.

• How do businesses in Paradise benefit from voluntary self-disclosures?

  The Department of Justice's self-disclosure policy aims to encourage businesses, including those based in Paradise, to disclose criminal wrongdoings by their employees or agents in return for certain benefits. However, these benefits may be lost if the misconduct in question is pervasive or involves executive management. Prior misconduct similar to the ones disclosed, such as unpaid taxes or civil penalties, may also complicate the situation.