The Nevada Department of Taxation has announced the tax amnesty program established by law in July 2020 will begin February 1, 2021, and run through May 1, 2021. The program is open to individuals and businesses and will waive penalties and interest upon full payment of eligible unpaid taxes, fees or assessments. Eligible taxes may be due to unfiled tax returns, filing returns but not paying the taxes, past audits, large untaxed purchases or errors found in prior tax returns. Unregistered businesses must register with the Nevada Department of Taxation and file all returns and pay any tax due since they began business in Nevada. The lookback period for unfiled taxes is eight years.
Taxes eligible under the amnesty program include:
- Commerce tax
- Modified business tax
- Sales and use tax
- Bank branch excise tax
- Insurance premium tax
- Centrally assessed property tax
- Liquor tax
- Tire tax
- Live entertainment tax (non-gaming)
- Short term lessor (passenger car) fee
- Exhibition facilities fees
- Transportation connection tax
- Net proceeds of mineral tax
- Cigarette and other tobacco products taxes
- Cannabis tax
For more information on this program, please contact Tronconi Segarra & Associates SALT Partners Tom Mazurek or Andy Toth at tmazurek@tsapa.com or atoth@tsacpa.com, or (716) 633-1373.
