Taxes and Incentives
Doing business in Henderson is less taxing
With one of the lowest city property tax rates in the region and no state income tax, many new residents and businesses choose to relocate to Henderson each year.
The 2014 Kosmont-Rose Cost of Doing Business Survey rated Henderson as a “Very Low Cost City.” The survey looks at six types of taxes including business license levies, property tax, sales tax and utility use taxes for more than 300 cities nationwide.
The State Business Tax Climate Index for FY 2015, released by The Tax Foundation, ranked Nevada third among the top 10 states with the most business-friendly tax systems, http://taxfoundation.org/article/2015-state-business-tax-climate-index.
“No” is a good word when it comes to taxes
The City of Henderson and/or the State of Nevada has none of the following taxes:
- Personal Income (1)
- Bank Excise Measured by Income
- Special Intangible
- Sales Tax on Food
- Bank Share Tax (2)
- Chain Store
Note: (1) In 1990, the voters of Nevada approved a constitutional amendment to prohibit the imposition of a personal income tax. (2) In 1986, voters of Nevada approved the repeal of the constitutional provision which provided for a bank share tax. Source: Nevada Taxpayers Association (3) Nevada now has a Commerce Tax imposed on business entities whose Nevada gross income in a taxable year exceeds $4million, the rates vary depending upon the industry Source: 2015 Nevada Legislation
Need more incentives?
Incentive programs are available for select companies to provide further “start-up” savings. The City of Henderson’s Economic Development/Redevelopment Division representatives can help you identify if any of these programs may be available for your company.
- Developer Assistance – The Henderson Redevelopment Agency provides tailored financial assistance to development projects that are aligned with our objectives
- Facade Grants
- Tenant Improvement Grants
- Sign Grants
Consider tax exempt bond financing for your capital intensive projects through the Henderson Public Improvement Trust.
Workers Compensation rates for the State of Nevada are drastically less than of those in California.
Global exposure! Because of the major market/trade shows in Las Vegas, a Henderson location provides business leaders the opportunity to meet with and service customers frequently and conveniently.
Henderson’s easy access to McCarran International Airport (located just five minutes via freeway from Henderson) gives you access to low cost air rates (because of the popularity of Las Vegas) as well as superior flight availability.
As the business hub of the Southwest (Henderson is approximately a 40-minute flight or a four-hour drive from Los Angeles. It can be reached, by air, from Phoenix, Salt Lake City and San Diego in under an hour and from San Francisco in less than two), Henderson allows access to major business markets. Nearly 60 million people live in the states surrounding Henderson.
Businesses located in the Las Vegas valley enjoy tremendous shipping advantages. Many trucks come in to serve the hospitality market in Las Vegas and leave empty to return to their destination. Thus, shipping out of the Henderson/Las Vegas market is affordable.
The City of Henderson’s Development Services Center is a multi-department development review team. For the convenience of our customers, we bring together employees from seven city departments into a coordinated plan review, inspection, and permit operation. For more information on how this service can assist you and your company, visit http://www.cityofhenderson.com/development_services_center/index.php.
Henderson has the lowest property tax rates among major incorporated cities in the state of Nevada. The following are the overlapping property tax rates for incorporated Nevada cities (100,000-plus population) for the fiscal year 2014-15: Henderson ($2.8968), Las Vegas ($3.2782), North Las Vegas ($3.3544) and Reno ($3.6600). Source: Nevada Department of Taxation, Property Rates for Nevada Local Governments – Fiscal Year 2014-15. Note: Total property tax rate shown is highest rate for entity.