NevadaNevada revenue committee studies taxes on rentals and property transfers
Nevada’s revenue committee must study possible changes to taxes on property-rental businesses and real estate transfers, then report its findings by January 1, 2027.
What it does
The committee must study whether certain businesses that rent Nevada property should count as one business for the commerce tax, including the effect on state revenue.
The committee must study a possible tax when someone sells or transfers control of an entity that owns Nevada real estate, including its revenue effects and how it could be reported and paid.
Argument forThe study could help lawmakers weigh how grouping rental businesses or taxing ownership transfers might affect state and local revenue.
Argument againstIf lawmakers later adopt either tax, property businesses could face higher tax bills or new work to report transfers and pay the tax.
More detail
The Joint Interim Standing Committee on Revenue must study whether certain property-rental businesses should count as one business for the commerce tax. The study covers businesses mainly renting Nevada property, including those with common owners who own or control more than 50 percent, limited liability companies and their series, and other types the committee decides to study. The study must include the estimated effect on state revenue. The committee must conduct the study during the 2025–2026 interim.
The committee must study a possible tax on selling or transferring control of an entity that owns an interest in Nevada real estate, and how that tax should be handled. The study concerns entities that own an interest in Nevada real estate. The study must estimate effects on state and local revenue and consider how changes in control should be reported and the tax paid. The committee must send its study results and any legislative recommendations for transmittal to the 84th Legislature by January 1, 2027.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jun 6Chapter 263.Latest
- Jun 5Approved by the Governor Joe Lombardo.Became Law
- May 29Enrolled and delivered to Governor.To Governor
- May 27Senate Amendment No. 623 concurred in. To enrollment.Major
- May 26In Assembly.
- May 23From printer. To re-engrossment. Re-engrossed. Second reprint. To Assembly.
- May 22Read third time. Passed, as amended. Title approved, as amended. (Yeas: 14, Nays: 7.) To printer.Passed Senate
- Vote recorded Senate (2nd Reprint). Result: pass.Upper
- May 21From committee: Amend, and do pass as amended. Placed on Second Reading File. Read second time. Amended. (Amend. No. 623.) Reprinting dispensed with.Minor
- Apr 23In Senate. Read first time. Referred to Committee on Revenue and Economic Development. To committee.Minor
- Apr 22From printer. To engrossment. Engrossed. First reprint. Read third time. Passed, as amended. Title approved, as amended. (Yeas: 27, Nays: 15.) To Senate.Passed Assembly
- Vote recorded Assembly (1st Reprint). Result: pass.Lower
- Apr 21From committee: Amend, and do pass as amended. Placed on Second Reading File. Read second time. Amended. (Amend. No. 471.) To printer.Minor
- Mar 27Notice of eligibility for exemption.
- Mar 19From printer. To committee.
- Mar 17Read first time. Referred to Committee on Revenue. To printer.Introduced
Taxes & Budget