Las Vegas traders

Does anyone have a read on how this will play out?

The way it's looking now, it's going to be a disaster for traders.
The proposal is structured to include all proceeds of business sales. If you are filing a 4797, your proceeds are the billions in stock sales you made.
 
Quote from zxcv1fu:

I am thinking of moving to LV & looking to rent a safe & 1br place in the end of April. When should I fly in to check with rental agent?
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www.lasvegas.com has zillions of rentals and real estate people.

SouthEast or West side...not north side of town.....

Also: (Prophet) New tax is possibly a nightmare....I got your email and passed it on to Bob....we've been aware of the implications....just hoping for an "accounting fix" (via exclusions or definitions).....Or at least "grandfather in" firms that have been here 10 years or more and make all the "new guys" pay big time!! :-)

Don
 
What link is that on NV gross business tax? A friend of mine was dealing with something like that in CA.

Thanks,

cas
 
Quote from Don Bright:



www.lasvegas.com has zillions of rentals and real estate people.

SouthEast or West side...not north side of town.....

Also: (Prophet) New tax is possibly a nightmare....I got your email and passed it on to Bob....we've been aware of the implications....just hoping for an "accounting fix" (via exclusions or definitions).....Or at least "grandfather in" firms that have been here 10 years or more and make all the "new guys" pay big time!! :-)

Don
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There are some more details on the states website. Has the new tax been enacted ? I thought that this was still under discussion and was not yet approved. IMHO if this does go through it is a dumb move by the legislature: There are some advantages to being physically located in Nevada but they are not that great: add more tax to the equation and the case for doing business in Nevada gets very weak ....
 
About the gross receipts tax- Is there a reason why Nevada is requesting that businesses relocate to other states?

Some states (like TN) have another brilliant business killing tax which is a 1% direct tax on capital- yes it includes computers, office chairs etc... I'm not sure if its a state or county tax, but I know someone in Memphis who had a simple word processing business (a long time ago) and was greatly plagued by that insane tax.
 
Quote from PuffyGums:

About the gross receipts tax- Is there a reason why Nevada is requesting that businesses relocate to other states?

Some states (like TN) have another brilliant business killing tax which is a 1% direct tax on capital- yes it includes computers, office chairs etc... I'm not sure if its a state or county tax, but I know someone in Memphis who had a simple word processing business (a long time ago) and was greatly plagued by that insane tax.
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Business property taxes here in Los Angeles are another anti-business provision....

In my office location particularly the city taxes are very negative with respect to encouraging buisnesses to locate within the city.
 
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