![]() The declaration form requests a NAICS code or a brief description of the type of business. The North American Industry Classification System (NAICS) is a Federal indexing system for classifying businesses. (These manuals define how Personal Property is assessed in Nevada.)Ģ023-2024 Unsecured Roll Depreciation Schedule The depreciation factors are based on expected life schedules prescribed by the Nevada Department of Taxation through the Personal Property Manual. The year of purchase or acquisition is needed so that the value of the property can be reduced by any applicable depreciation. The cost is defined as the purchase price of the item, including any applicable shipping and installation charges. The cost and year of acquisition should be listed on the declaration. All personal property used for the business should be listed completely and accurately. The completed declaration provides most of the information needed to determine the taxable value of the personal property. Please remember, the responsibility of keeping the Assessor informed of any changes to the business address, mailing address, or location is that of the taxpayer. New businesses should contact the Clark County Assessor at the same time the business license is acquired, or prior to opening the business. The declaration is due by July 31, or within fifteen days of receipt of notification, whichever is later. Who Must File a Personal Property Declaration with the Assessor?Īll businesses having assets within Clark County must complete and file an annual declaration which lists any personal property that is used in conjunction with the business as of the lien date, which is July 1. Motor vehicles required to be registered with the Nevada Department of Motor Vehicles and Public Safety are exempt from the property tax, though subject to a governmental service tax. The exemption of household goods does not extend to personal property or furnishings rented or leased to another party or rented in conjunction with the rental of a dwelling unit. What Types of Personal Property are Exempt from Taxation?Įxamples of property that are exempt from taxation includes business inventory held for resale, consumable supplies, livestock, boats, and personal household belongings. Nevada Revised Statutes, Chapter 360-361, provide for the taxation of all property unless specifically exempted by law. ![]() The taxation of business personal property has been in effect since Nevada became a state in 1864. Personal property is taxable whether it is owned, leased, rented, loaned, or otherwise made available to the business. According to Nevada Revised Statutes, all property that is not defined or taxed as "real estate" or "real property" is considered to be "personal property." Taxable personal property includes manufactured homes, aircraft, and all property used in conjunction with a business.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |