{"id":52,"date":"2013-03-20T17:13:28","date_gmt":"2013-03-20T21:13:28","guid":{"rendered":"https:\/\/sierrasothebysrealty.blog\/2013\/03\/20\/nevada-residency-provides-relief-for-taxpayers\/"},"modified":"2013-03-20T17:13:28","modified_gmt":"2013-03-20T21:13:28","slug":"nevada-residency-provides-relief-for-taxpayers","status":"publish","type":"post","link":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/2013\/03\/20\/nevada-residency-provides-relief-for-taxpayers\/","title":{"rendered":"Nevada Residency Provides Relief for Taxpayers"},"content":{"rendered":"

\"ScreenIndividuals and businesses are becoming more and more motivated to relocate to Nevada due to the fact that there is no state imposed income tax. In order to take advantage of the income tax savings, several factors come into play. Evaluate your personal and corporate tax climate and use the following information to evaluate your potential for the Nevada tax savings.<\/a><\/p>\n

In order to take advantage of Nevada\u2019s \u201ctax hospitality\u201d a taxpayer must make Nevada its principal place of residence, i.e. your primary home. Residency is the single most important factor in gaining Nevada\u2019s tax advantages.<\/p>\n

A \u201cclose connection test\u201d is implemented and must be passed in order for a taxpayer to establish state residency. The \u201cclose connection test\u201d identifies if Nevada is the state in which a taxpayer has the closest ties during a taxable year. Various factors include: physical address, sources of income, voter registration, home ownership, the location of you closest social and business contacts, and more.\u00a0Individuals who are considered \u201cdomiciled\u201d in Nevada generally escape taxation. A corporation organized and domiciled in Nevada can also significantly reduce its state tax burden by shifting its corporate level of activity to the state of Nevada.<\/p>\n

\"nevada-tax-advantages\"Owning real estate in the state of Nevada is a key factor when considering such tax advantages. For more information about the current Nevada real estate market contact Sierra Sotheby\u2019s International Realty<\/a> at 888.444.1505.\u00a0To learn more about the potential tax advantages of Nevada residency for yourself or your business visit http:\/\/tax.state.nv.us\/<\/a>. Contact an experienced CPA or financial advisor to plan and implement a successful change in residency. Information gathered from Taking Advantage of Nevada’s Hospitable Income Tax Climate<\/em><\/a>.<\/p>\n

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Individuals and businesses are becoming more and more motivated to relocate to Nevada due to the fact that there is no state imposed income tax. In order to take advantage of the income tax savings, several factors come into play. Evaluate your personal and corporate tax climate and use the following information to evaluate your […]<\/p>\n","protected":false},"author":248546753,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[1369,1370],"tags":[1573,1576,1677,1679],"class_list":["post-52","post","type-post","status-publish","format-standard","hentry","category-tahoe-real-estate-news","category-sierra-sothebys-international-realty","tag-lake-tahoe-area-real-estate","tag-lake-tahoe-area-tax-advantages","tag-nevada-real-estate","tag-nevada-tax-advantages"],"jetpack_publicize_connections":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pfNAru-Q","jetpack-related-posts":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/posts\/52","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/users\/248546753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/comments?post=52"}],"version-history":[{"count":0,"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/posts\/52\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/media?parent=52"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/categories?post=52"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/tags?post=52"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}