Nevada businesses reminded to pay tax

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Wednesday, Jan. 7, 2004 | 11:05 a.m.

CARSON CITY -- An estimated 50,000 Nevada businesses are being reminded that the first payment on the new gross payroll tax is due Jan. 31.

The Legislature enacted the 0.70 percent tax on gross payroll for all businesses except financial institutions, which are assessed 2 percent on their payroll. Companies are allowed to deduct payments for health insurance and health benefits.

The state Department of Taxation said Tuesday it has mailed out tax returns and envelopes to businesses. It said the returns and envelopes had coded information specific to individual taxpayers and the businesses should use those forms.

The tax is based on gross wages reported to the state Employment Security Division. But the Tax Department cautioned the tax is separate from the unemployment insurance premium paid to the Employment Security Division.