Nevada Business Opportunities
A Quick Glance at Nevada
Nevada, whose nickname is The Silver State, first obtained its statehood in 1864. With a population of 2,790,136 people, Nevada is the thirty-fifth most populated state in the United States.
If you are considering starting your new business in Nevada, you might want to look into one of Nevada's top three most populous cities - Las Vegas, Reno or Henderson and also in the state's capital of Carson City.
The largest industry in the state of Nevada is accommodation.
- The gross domestic product (GDP), of this industry, is roughly $13.3 billion and accounts for 9.4% of Nevada's GDP.
- Accommodation also employs 13.5% of Nevada's private workforce.
In the United States, the more than 600,000 plus franchised small busineeses account for 40% of all retail sales and provide jobs for some 8 million people. According to the Small Business Administration (SBA), their standard definition of what constitutes as a small business includes a maximum of 500 employees or operations with and/or up to $7 million in revenue, depending on the industry.
- There are 450,104 small businesses, in the state, of Nevada.
- Small businesses in Nevada, make up 31.3% of the state's private workforce.
State and Local Taxes
Listed below are the state and local taxes, for the state of Nevada, and how they rank against other states in the U.S.
|State Tax Rate||Avg. Local Tax Rate||Combined Rate||Combined Rank*||Max Local Tax Rate|
|*Combined Rank is rank from highest to lowest tax percentage|
California has the highest state tax rate in the United States at 7.25%, but Lousinana has the highest combined tax rate, overall, at 9.98%. Delaware, Montana, New Hampshire and Oregon share the spot for lowest combined tax rates at 0%.
If you need additional information about how to start a business in Nevada, their official state page might be a good place to start. If you are looking to own your own established franchise in Nevada, we have collected a comprehensive list of companies that are actively looking to expand in Nevada, for you to explore.
- By Unknown, Public Domain
- Comparison between U.S. states and countries by GDP (nominal) from Wikipedia
- Largest Industry in Each State from 24/7 Wall St.
- 2017 Small Business Profiles for the States and Territories from the U.S. Small Business Administration
- Small Business Trends from the U.S. Small Business Administration
- Civilian Labor Force and Unemployment by State from the U.S. Bureau of Labor Statistics
- State and Local Sales Tax Rates in 2017 from the Tax Foundation