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.

Top Industry

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.

Small Businesses

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.

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%.

Additional Information

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.