Modified business tax forms in the mail
The State Department of Taxation last week mailed forms to businesses required to pay the new modified business tax, and officials said businesses need to be careful that they file the correct form.
The tax went into effect Oct.
The first quarterly returns are due no later than Jan.
The confusion may arise because the modified business tax is administered by the Department of Taxation and based on information filed with the state’s Employment Security Division.
Some businesses, state officials worry, may mistakenly believe the modified business tax forms are those for unemployment insurance.
Other businesses may combine the two filings.
Chuck Chinnock, executive director of the Department of Taxation, said the two filings are separate and must be filed separately.
He said the returns and envelopes for the modified business tax have coded information specifically about each taxpayer.
It’s important, he said, for businesses to use the forms and envelopes that are provided.
Generic forms or additional information are available at the department’s Web site http://tax.state.nv.us.
or at department offices.
The state’s new modified business tax is based on gross wages, including tips, as reported to the Employment Security Division.
A deduction is available to employers who pay for qualified health benefit plans for their workers.
Officials with Fuentes Restaurant and Cantina, Axle Crossfit, Gather, Loved Momma Fitness, Rowdy Bar and Silver Strike Crossfit discuss challenges — and opportunities — due to the pandemic.