Nevada Tax Advantages

Many families are calling Nevada HOME and that is for many reasons!

One main reason we see visitors becoming locals is that Nevada has no state income tax!

The major justification for receiving this tax benefit is that Nevada must be listed as your primary residence. You are still permitted to conduct business outside of Nevada and even maintain residences there; Nevada need only be the state with which you are most closely connected. Except for income derived from sources located in another state, if you are domiciled in Nevada and then become a resident of Nevada, you will often be exempt from paying state income taxes. Even if you must “source” a portion of your income from a state that levies income taxes, you might still gain from the substantial decrease in your overall tax liability.

Nevada offers a plethora of tax advantages for relocating home and business owners alike, including:

• No personal state income tax
• No corporate income tax
• No gross receipts tax
• No franchise tax
• No inventory tax
• No tax on issuance of corporate shares
• No requirements for shareholders & directors to live in Nevada
• No tax on sale or transfer of shares
• No succession or inheritance with IRS
• No sharing of information with IRS
• No initial or minimum capital requirements
• Simple annual requirements
• Protection for Directors and Officers
• Anonymity of owners – total privacy
• Low property taxes
• Business-friendly environment

*Brooke Sullivan, Rob Wonhof and Monica Gore are not tax attorneys or CPAs. We strongly recommend that you consult your tax advisor for all the details and to address your specific situation.

Nevada’s tax advantages make it a prime destination for homebuyers, and certain areas of the Las Vegas Valley saw exceptional real estate activity in 2024. If you’re considering a move, here’s a breakdown of the hottest ZIP codes based on sales volume and total value sold.

89166 – Northwest Las Vegas & Providence
Located in the northwest valley, this ZIP code includes desirable communities like Providence and Kyle Canyon, offering a mix of modern homes and scenic mountain views. According to Clark County property records, 1,772 properties changed hands in this area in 2024, consisting of:

• 1,528 single family homes
• 224 townhomes
• 20 condos

89141 – Southern Highlands & Enterprise
89141 covers the southwestern tip of the valley and is home to the prestigious Southern Highlands community. In 2024, 1,387 homes and 227 townhomes were sold in this area. Notably, no condos were sold in this ZIP code, making it a hotspot for single-family and townhome buyers.

Highest Sales by Dollar Volume

When looking at total dollar value, two ZIP codes stood out in 2024:

89135 – Summerlin South & The Summit Club
This area, home to the luxury community of The Summit Club, led the way in sales volume, with $1.2 billion worth of real estate transactions:

• $1 billion in home sales
• $58 million in townhomes
• $82 million in condos

89141 – Enterprise & Southern Highlands
This ZIP code also ranked high in terms of total value sold, with $1 billion in sales, including:

• $92 million in single-family homes
• $90 million in townhomes

The Least Active ZIP Codes

At the other end of the spectrum, the lowest sales volume was recorded in 89039, with just two condos sold. Meanwhile, the lowest total dollar value was in 89046, where only $490,000 in single-family homes was sold, with no townhomes or condos changing hands.

Why This Matters for Homebuyers & Investors

Nevada’s real estate market remains strong, and these numbers highlight the areas where demand is highest. Whether you’re looking for a high-growth investment area or a luxury property in an exclusive community, understanding market trends can help you make the best decision.

Thinking about relocating to Nevada? Let’s chat about finding the right home for your needs!