| Skip to content Search for: Translate State Agencies State Jobs ADA Assistance State of Nevada Department of Taxation Menu Laws, Statutes & Regulations Boards & Meetings Careers Calendar Contact About Menu Home Manage a Business Start Update Close Returns, Payments, Credits and Refunds Taxes Tax Forms Tax Types File & Pay Taxes File Online with Nevada Tax Get a Business License Online Returns, Payments, Credits and Refunds Resale Permit Search Education Appraiser Certification, Education & Testing Appeals Audits Hearings How-to Videos for Nevada Tax Tax Powerpoints News & Publications FAQs Bank Branch Excise Tax Bank Branch Excise Tax The Nevada Bank Branch Excise Tax is a tax levied on each branch of a bank operating within the state. It’s calculated based on the number of branches a bank has, not on the bank’s income or profits. About Nevada Bank Branch Excise Tax 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 Branch Excise Tax Forms 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. Bank Branch Excise Tax Rate 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. Example Scenario 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 Additional Information Bank Branch Excise Tax FAQs More Information Bank Branch Excise Tax Cannabis Tax Cigarette and Other Tobacco Products ( OTP) Tax Commerce Tax Exhibition Facility Fee Gold and Silver Excise Tax Insurance Premium Tax Liquor Tax Live Entertainment Tax ( LET) Lodging Tax Modified Business Tax ( MBT) Net Proceeds of Minerals Tax Peer-to-Peer Car Sharing Fee Property Tax Real Property Transfer Tax ( RPTT) Sales Tax & Use Tax Short Term Lessor Fee Tax Tire Surcharge Fee Transportation Connection Tax ( TCT) Consumer Use Tax State of Nevada Department of Taxation Google Translate ABOUT US Contact the Department Holiday Schedule Department Leadership ONLINE SERVICES Nevada Tax - File & Pay Permit Search Report Tax Evasion TAX FORMS Appeals Forms Cannabis Forms Sales & Use Forms LOCAL GOV Local Government Finance Centrally Assessed Property Locally Assessed Property Info BOARDS/MEETINGS Nevada Tax Commission State Board of Equalization Mining Oversight & Accountability Commission Committee on Local Gov. Finance Appraiser Certification Board Public Meetings Privacy Policy | ADA Technology Accessibility Guidelines | Web Style Standards | ADA Assistance | State ADA Website © 2024 State of Nevada Department of Taxation Close Home Manage a Business Start / Run a Business Update a Business Close a Business Returns, Payments, Credits and Refunds Taxes | Skip to content Search for: Translate State Agencies State Jobs ADA Assistance State of Nevada Department of Taxation Menu Laws, Statutes & Regulations Boards & Meetings Careers Calendar Contact About Menu Home Manage a Business Start Update Close Returns, Payments, Credits and Refunds Taxes Tax Forms Tax Types File & Pay Taxes File Online with Nevada Tax Get a Business License Online Returns, Payments, Credits and Refunds Resale Permit Search Education Appraiser Certification, Education & Testing Appeals Audits Hearings How-to Videos for Nevada Tax Tax Powerpoints News & Publications FAQs Bank Branch Excise Tax Bank Branch Excise Tax The Nevada Bank Branch Excise Tax is a tax levied on each branch of a bank operating within the state. It’s calculated based on the number of branches a bank has, not on the bank’s income or profits. About Nevada Bank Branch Excise Tax 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 Branch Excise Tax Forms 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. Bank Branch Excise Tax Rate 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. Example Scenario 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 Additional Information Bank Branch Excise Tax FAQs More Information Bank Branch Excise Tax Cannabis Tax Cigarette and Other Tobacco Products ( OTP) Tax Commerce Tax Exhibition Facility Fee Gold and Silver Excise Tax Insurance Premium Tax Liquor Tax Live Entertainment Tax ( LET) Lodging Tax Modified Business Tax ( MBT) Net Proceeds of Minerals Tax Peer-to-Peer Car Sharing Fee Property Tax Real Property Transfer Tax ( RPTT) Sales Tax & Use Tax Short Term Lessor Fee Tax Tire Surcharge Fee Transportation Connection Tax ( TCT) Consumer Use Tax State of Nevada Department of Taxation Google Translate ABOUT US Contact the Department Holiday Schedule Department Leadership ONLINE SERVICES Nevada Tax - File & Pay Permit Search Report Tax Evasion TAX FORMS Appeals Forms Cannabis Forms Sales & Use Forms LOCAL GOV Local Government Finance Centrally Assessed Property Locally Assessed Property Info BOARDS/MEETINGS Nevada Tax Commission State Board of Equalization Mining Oversight & Accountability Commission Committee on Local Gov. Finance Appraiser Certification Board Public Meetings Privacy Policy | ADA Technology Accessibility Guidelines | Web Style Standards | ADA Assistance | State ADA Website © 2024 State of Nevada Department of Taxation Close Home Manage a Business Start / Run a Business Update a Business Close a Business Returns, Payments, Credits and Refunds Taxes |
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