Effective January 1, 2004, the Bank Branch Excise Tax in Nevada imposes a tax on banks based on the number of branch offices they operate within the state.

Initially, the tax was levied on each bank, for every branch office maintained in Nevada, beyond the first branch.

The tax rules were revised on July 1, 2005 so that the Bank Branch Excise Tax is imposed on each bank for each branch office in excess of one maintained by the bank in each county in this State.

• Bank Excise Tax Return
• Who should use it? Banks and Financial Institutions licensed and operating in Nevada.
• Purpose: The Bank Excise Tax Return is used by banks to calculate and report the excise taxes due based on their business operations within the state. This tax is typically assessed in lieu of other taxes, like corporate income taxes, and reflects a bank's earnings and economic activity within Nevada.
• Frequency: Most bank excise tax returns are filed annually, aligning with the fiscal year of the bank. The due date and specific filing requirements can vary based on state regulations, but generally, this aligns with the close of the bank's financial year to facilitate accurate financial reporting.

• Tax Base: The tax applies to those branch offices in Nevada that exceed the threshold of one branch per county and were operational on the first day of a given calendar quarter.
• Tax Rate: The tax is calculated at a rate of $1,750.00 per additional branch per quarter.

For example, if one bank operates four branches in Nevada, distributed as follows:

• Two branches in Clark County
• One branch in Washoe County
• One branch in Elko County

For this bank:

• Clark County: One branch is exempt (the first branch), and the tax applies to the second branch. So, tax = $1,750.00.
• Washoe County: The single branch is exempt as it is the only one in the county.
• Elko County: The single branch is exempt as it is the only one in the county.
• Total Bank Branch Excise Tax for the Quarter: $1,750.00

• Bank Branch Excise Tax FAQs