Report: Nevada maintains favorable tax climate for businesses
The research think tank, based in Washington, D.C., also assigned Nevada a tie for the nation’s top rank for corporate and individual income taxes because the state doesn’t collect either tax.
Nevada also has the ninth lowest property taxes, but only the 39th lowest sales taxes and 43rd lowest unemployment insurance taxes among the 50 states, according to data as of July 1.
The foundation reported that the typical American had to work until April 21 last year before earning enough money to pay all federal, state and local taxes for all of 2014. For Nevadans, Tax Freedom Day fell on April 8, 13 days earlier. Only six states paid off their tax burdens earlier in the year.
Among other findings the foundation ranked Nevada:
* 26th highest for state tax collections in fiscal 2013 at $2,535 per capita compared to a U.S. average of $2,689.
* 48th highest for state revenue in fiscal 2013 at $4,113 per capita compared to a U.S. average of $5,428.
* 43rd highest with federal aid making up 25 percent of state revenue in fiscal 2013.
* 4th highest state general sales tax collections at $1,312 per capita in fiscal 2013 compared to a U.S. average of $809.
* 10th highest state gasoline tax rate at 33.15 cents per gallon as of Jan. 1.
To recruit, support and advocate for candidates for public office who support private sector job creation, low taxation, a responsible regulatory environment, and effective delivery of essential state services.