Income/Franchise:
Nevada: Proposed Changes to Commerce Tax Rule Clarify Application of Trade Show Exemption
(LCB File No. R090-24I) Proposed Amended Reg. section 363C.210, Nev. Tax Comm. (5/1/24). The Nevada Tax Commission is proposing changes to a rule on Nevada’s commerce tax – which is a tax generally imposed on each “business entity” (including disregarded entities) engaged in business in Nevada that has Nevada-sitused gross revenue in excess of $4 million annually at various rates that depend upon the industry in which the business entity is “primarily engaged” – by providing that the “trade show” exemption from the tax applies only to an entity that:
Participates in an exhibition, trade show, industry or corporate meeting or similar event held in Nevada for a purpose related to the conduct of a business, including, without limitation, as an organizer, manager, or sponsor of such an event or as an exhibitor at such an event; and
Does not engage in any in-state business activity other than the participation, organization, management, or sponsorship of such an event.
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