Economic Development

Elko County Business Overview

The incentives of doing business in Nevada are expansive. Nevada boasts one of the most liberal tax structures in the nation and from a tax-planning perspective, the return on investment in the form of tax saving dollars can be enormous.

Incentives
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• Minimum State Requirements for Rural Areas
• Minimum State Requirements for Expansions
• Minimum State Requirements for Rural Recycling and Intellectual Property
  
  

Taxes

Sales Tax Rate

In Elko County, the sales tax rate is 6.850.

Property Tax Rate

In Elko County, the 2011-12 average county wide tax rate is 2.9078.

Calculating Real Property Taxes

The formula for calculating real property tax is as follows:

Taxable Value x .35 = Assessed Value
Assessed Value x Tax Rate = Total Real Property Tax

For more information, please see How Property Taxes are Calculated .

Calculating Personal Property Taxes

Using the Cost Conversion Factor tables in the Personal Property Manual, use the following formula to calculate the assessed value. The assessed value is the value on which taxes are calculated.

Actual Cost x Cost Index (for appropriate year) = Cost of Replacement
Cost of Replacement x Percent Good = Taxable Value
Taxable Value x .35 = Assessed Value
Assessed Value x Tax Rate = Total Personal Property Tax

Business Resources

Nevada's Industrial Development and/or Mini-Bond Programs through Nevada Industry Excellence
If you are a Nevada manufacturer and in need of low-cost (2 to 3% below typical commercial rates) financing for real estate, buildings or new equipment, Nevada Industry Excellence may be able to help you qualify for Nevada's Industrial Development and/or Mini-Bond Programs. Bond Programs

www.itssimple.biz
An easily understandable site including all the information an entrepreneur would need to start a business.

Elko County's Largest Employers

Source: Nevada Department of Employment, Training and Rehabilitation (DETR), 1st Quarter 2010

Fortune 1000 Companies with a Presence in Elko County

Source: 2009 Fortune 500 List

Impact Fees

Elko County does not have set impact fees, each commercial project is evaluated on a case-by-case basis. For more information, please contact Elko County Economic Development Authority (ECEDA) at 775.738.2100.

Business Start Up Information*

Business License and Taxation Requirements

A business license is needed for each person, corporation, partnership, proprietorship, business association and any other similar organization that conducts an activity for profit, including an independent contractor or sole proprietor. A trade show or convention held in this state in which a business previously described takes part, or in which a person who conducts such a business attends, for a purpose related to the conduct of the business also needs a business license. Detailed information on taxation rates may be obtained at the Department of Taxation web page.

Nevada Department of Taxation

State Business License

All businesses operating in Nevada must obtain a State Business License issued by the Secretary of State's office. For more information please visit their website.

Local Business License Offices

A local business license is required to operate a business in nearly all cities, most counties, and many other locations. This is in addition to the State Business License. Please contact the appropriate business license office to determine the specific licensing requirements.

City of Carlin

PO Box 787
101 S. 8th Street
Carlin, NV 89822
Phone: 775.754.6354

City of Elko
1751 College Avenue
Elko, NV 89801
Phone: 775.777.7138

City of Wells

PO Box 366

279 Clover Avenue

Wells, NV 89834

Phone: 775.752.3120

City of West Wendover

PO Box 2825
801 Alpine Street
West Wendover, Nevada 89883
Phone: 775.664.3081

Employer Identification Number

Every partnership or corporation must have an Employer Identification Number (EIN) to use as its taxpayer number. Sole proprietors must also have an EIN if they pay wages to one or more employees or if they are required to file any excise tax returns.

Internal Revenue Service Employer Identification Number
200 S Virginia St
Reno, NV 89501
Phone: 775.824.2218

Business Personal Property Declaration Form

Nevada tax laws require all persons, firms, or businesses owning, renting, leasing, or controlling business personal property to file a Business Personal Property Declaration Form. Please contact your city or county government office for more information.

Workers' Compensation Insurance

Every business that employs anyone must by law, obtain workers' compensation insurance coverage unless that entity is certified by the Commissioner of Insurance as a self-insured employer.

Nevada Department of Business and Industry - Nevada Division of Industrial Relations
400 W King St., Ste. 400
Carson City, NV 89703
Phone: 775.687.7270
Fax: 775.687.3937

Nevada Unemployment Compensation Program

Any business that employs one or more workers is an "employing unit" and must register with the Nevada Unemployment Compensation Program. Registration is made by submitting a Nevada Business Registration Form to the employment security division as soon as workers are hired.

Employment Security Division
500 E Third St.
Carson City, NV 89713
Phone: 775.684.6300

I-9 Forms for New Employees

Every employer is required, within 72 hours of hiring a new employee, to maintain a completed, signed, witnessed, and dated I-9 Form for each employee.

U.S. Citizenship and Immigration Services

USCIS Reno Field Office
1790 Sandhill Rd.
Reno, NV 89521
Phone: 800.375.5283

W-4 Forms

Every employee hired is to complete a W-4 Form so that the employer can withhold the proper amount of income tax from each paycheck. Any change in the employee's tax status requires a new form.

Internal Revenue Service
200 S. Virginia St.
Reno, NV 89501
Phone: 800.829.1040

Nevada Labor Statutes

All employers must comply with Nevada's Labor Statutes and must post a sign explaining these laws at the place of business.

State Labor Commission
675 Fairview Dr., Ste. 226
Carson City, NV 89701
Phone: 775.687.4850
Fax: 775.687.6409

Incorporating

Businesses interested in incorporating, along with non-Nevada businesses seeking permission to do business in Nevada, should register with the Secretary of State's Office. The Secretary of State's office handles commercial recordings (incorporation), securities, notaries, and election information.

Secretary of State
Capital Building
101 N. Carson St., Suite 3
Carson City, NV 89701
Phone: 775.687.5203
Fax: 775.687.3471

Zoning Offices

The applicable city or county zoning ordinances should be checked to ensure that the desired location is zoned for the proposed type of business before buying or leasing property. For home-based businesses, please verify if a Home Occupation Permit will be required. Contact your local government office(s), or you may find the applicable zoning office(s) in the limited list above under Local Business License Offices.

Using a Fictitious Name

A fictitious name/dba certificate is required for all businesses that plan to use a name different than their legal or corporate name. It is best to check with the County Clerk's office where your business is located to determine if the fictitious name desired is available.