State’s tax amnesty period ends May 1 for businesses

There is less than one month left of Nevada’s Tax Amnesty program that began Feb. 1. Business entities that have unpaid tax debt can file/pay their taxes online or download the missing tax returns that are available on the Department of Taxation’s website https://tax.nv.gov/

The base tax in a specific period must be paid in full during the amnesty filing dates of Feb. 1 through May 1 in order for amnesty to apply. The amnesty program allows penalty and interest to be waived provided the outstanding tax debt meets the following criteria:

The tax was due and payable on or before June 30, 2020, which includes monthly tax returns due May 31, 2020 or before, and quarterly tax returns due April 30, 2020 or before; the delinquent tax amount was paid in full for the period. If a taxpayer has several delinquent returns but is only able to pay one or more periods, the penalty and interest may be waived for each period providing the tax was paid in full; and the delinquent tax is paid during the amnesty period.

The types of taxes included in the amnesty program are the Sales and Use Tax, Modified Business Tax, Cigarette Tax, Other Tobacco Products Tax, Liquor Tax, Bank Branch Excise Tax, Insurance Premium Tax, Tire Tax, Live Entertainment Tax, Short Term Lessor, Exhibition Facilities Fees, Commerce Tax, Transportation Connection Tax, Wholesale Marijuana Excise Tax, Retail Marijuana Excise Tax, Property Tax that is centrally assessed and Net Proceeds of Mineral Tax.

Taxes that are not included in the amnesty program include Lodging Tax, Real Property Transfer Tax and Property Tax that is locally assessed.

The amnesty program began Feb. 1 and will run through May 1. Taxpayers will be able to make their payments through the online portal paying with Visa, Mastercard, Discover Card and debit cards. Those who do not have an online account can visit Nevada Tax Online and sign up.

The Department of Taxation, with 403 employees in five divisions, is responsible for the administration of 17 tax types, three fees, two licenses and one civil penalty. The collection and distribution of funding supports the state general fund, the state distributive school account, local governments and the state debt service fund.