Nevada 2019 Regular Session Status: Enacted

SB 497 — Eliminates certain filing requirements related to the commerce tax. (BDR 32-1198)

Last action — Chapter 329.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed Assembly
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced March 29, 2019. Enacted.

Prognosis

Advancing 50% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

AN ACT relating to taxation; removing the requirement for certain business entities to file a commerce tax return with the Department of Taxation; and providing other matters properly relating thereto.

Bill Text

What changed in the latest version

55 added · 69 removed

55 line(s) added, 69 removed.

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Latest
EXEMPT * S.B.
Senate Bill No.
497 SENATE BILLN O .
497–Committee on Finance CHAPTER..........
497–COMMITTEE ON F INANCE (O NB EHALF OF THE OFFICE OF FINANCE IN THE OFFICE OF THE G OVERNOR ) M ARCH 29, 2019 ____________ Referred to Committee on Revenue and Economic Development SUMMARY—Eliminates certain filing requirements related to the commerce tax.
(BDR 32-1198) FISCAL NOTE:
Effect on Local Government:
No.
Effect on the State:
Executive Budget.
~ EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
Existing law imposes an annual commerce tax on each business entity engaged in business in this State whose Nevada gross revenue in a fiscal year exceeds $4,000,000 at a rate that is based on the industry in which the business entity is entity whose Nevada gross revenue for a fiscal year is $4,000,000 or less must file an informational return with the Department of Taxation that includes, without limitation, an identification of the industry in which the business entity is primarily engaged and an affirmation under penalty of perjury that the Nevada gross revenue of the business entity for the fiscal year was less than $4,000,000 (NRS 363C.200;
Existing law imposes an annual commerce tax on each business entity engaged in business in this State whose Nevada gross revenue in a fiscal year exceeds primarily engaged.
(NRS 363C.200) Under existing law and regulations, a businessis entity whose Nevada gross revenue for a fiscal year is $4,000,000 or less must file an informational return with the Department of Taxation that includes, without limitation, an identification of the industry in which the business entity is primarily engaged and an affirmation under penalty of perjury that the Nevada gross revenue NAC 363C.220) This bill provides that a business entity whose Nevada gross63C.200;
- *SB497* – 2 – THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
EXPLANATION – Matter in bolded italics is new;
Section 1.
matter between brackets [omitted material] is material to be omitted.
THE SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:D IN Section 1.
For the purposes of determining the amount of the commerce tax due pursuant to this chapter, the initial [report] return filed by a business entity with the Department pursuant to subsection 2 must designate the business category in which the business entity is primarily engaged.
For the purposes of determining the amount of the commerce tax due pursuant to this chapter, the initial [report] return - 80th Session (2019) – 2 – filed by a business entity with the Department pursuant to subsection 2 must designate the business category in which the business entity is primarily engaged.
A business entity may not change the business category designated for that business entity unless the person applies to the Department to change such designation and the Department determines that the business is no longer primarily engaged in the designated business category.
A business entity may not change the business category designated for that business entity designation and the Department determines that the business is no longer primarily engaged in the designated business category.
Upon written commerce tax due pursuant to this chapter must be made, the Department may for good cause extend by not more than 30 days the time within which a business entity is required to pay the commerce tax.
Upon written application made before the date on which payment of the commerce tax due pursuant to this chapter must be made, the Department may for good cause extend by not more than 30 days the time within which a business entity is required to pay the commerce tax.
H - *SB497*
~~~~~ 19 - 80th Session (2019)
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Action History

  1. Chapter 329.

  2. Approved by the Governor.

  3. Enrolled and delivered to Governor.

  4. From committee: Do pass. Declared an emergency measure under the Constitution. Read third time. Passed. Title approved. (Yeas: 40, Nays: None, Excused: 1, Vacant: 1.) To Senate. In Senate. To enrollment.

  5. In Assembly. Read first time. Referred to Committee on Taxation. To committee.

  6. From committee: Do pass. Placed on General File. Read third time. Passed. Title approved. (Yeas: 19, Nays: None, Excused: 2.) To Assembly.

  7. From committee: Do pass. Placed on Second Reading File. Read second time. Taken from General File. Re-referred to Committee on Finance. To committee.

  8. From printer. To committee.

  9. Read first time. Referred to Committee on Revenue and Economic Development. To printer.

Sponsors

  • Senate Committee on Finance · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 66 not signed on

Sponsors (1)

  • Senate Committee on Finance

Co-sponsors (0)

None.

Not signed on (66)

66 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 497 do?
AN ACT relating to taxation; removing the requirement for certain business entities to file a commerce tax return with the Department of Taxation; and providing other matters properly relating thereto.
Who sponsors SB 497?
SB 497 is sponsored by Senate Committee on Finance.
What is the current status of SB 497?
This bill has been enacted into law. Introduced March 29, 2019. Enacted.
Where can I track SB 497?
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