Inventories held for sale within Nevada are exempted from personal property taxation. Lyon County Personal property tax is calculated by the Assessor using the depreciation,short, average, or long lives schedules annually adopted by the state Tax Commission. For improvements, value is replacement cost less depreciation at 1.5 percent a year up to 50 years. Assessed value is 35 percent of taxable value. The tax rate is then applied against the assessed value.
Sales tax is imposed at the retail level.
Use tax is imposed on tangible personal property purchased for storage or use in Nevada on which Nevada sales tax was not paid at the time of purchase. Nevada is one of the lowest taxed states in the nation, offering rich opportunities and economic prosperity for new industries. Back to the main page.