Nevada may see millions from online sales tax
CARSON CITY, Nev. — Nevada Taxation Director Bill Anderson says the recent Supreme Court ruling allowing states to tax online sales could mean millions in revenue for Nevada.
The U.S. Supreme Court ruled June 21 states can tax online sales even if the business isn’t located in the state. Nevada already imposes the sales tax on businesses that have a physical presence in the state.
“(The) ruling allows all states to tax the sales of those entities going forward regardless of whether they have a physical presence in the state,” Anderson said, adding that preliminary assessments indicate that could mean nearly $30 million a year from the state’s 2 percent sales tax.
If Anderson’s projection is correct, the ruling will mean added cash for Nevada’s local governments, as well as the state’s 17 school districts.
The Local School Support Tax rate is 2.6 percent, which could generate $35 million for K-12 Education.
The combined City County Relief Tax is worth another 2.25 percent on the tax rate, which could provide those local governments some $30 million a year.
Those are the elements that make up the 6.85 percent sales and use tax rate the state collects.
Local rates in different counties are higher because of optional levies for specific purposes including flood control, road construction, mass transit and open space.
Anderson said the estimates are based on national trends where 10 percent of retail activity is now attributed to online sales. Because of the June 21 high court ruling, he said taxation expects to recognize $2.6 billion in online taxable sales a year, nearly double the current levels.
He said moving forward, his staff will monitor and assess Nevada’s progress in making the changes needed to successfully implement the Supreme Court decision.
Demolition will be completed in three phases: asbestos abatement, interior demolition and exterior demolition. The first two phases have already begun inside the 150,000-square-foot retail location formerly known as Shoppers Square; the first visual of outside demolition will be in early October on the northwest corner of the project.