Existing law imposes an annual commerce tax on each business entity engaged in business in this State whose Nevada gross revenue in a taxable year exceeds $4,000,000 at a rate that is based on the industry in which the business entity is primarily engaged. (NRS 363C.200) Existing law requires the amount of commerce tax to be calculated by subtracting $4,000,000 from the Nevada gross revenue of the business entity for the taxable year and multiplying that amount by the rate established for the business category in which the business entity is primarily engaged. (NRS 363C.300-363C.560) Section 1 of this bill revises the annual commerce tax to apply only to business entities engaged in business in this State whose Nevada gross revenue in a taxable year exceeds $6,000,000. Sections 2-28 of this bill revise the manner in which the commerce tax rate is calculated to require the commerce tax to be calculated by subtracting $6,000,000 from the Nevada gross revenue of the business entity for the taxable year and multiplying that amount by the rate established for the business category in which the business entity is primarily engaged. Existing law: (1) imposes various excise taxes on a supplier of motor vehicle fuel, other than aviation fuel, for the sale, distribution or use of such fuel by the supplier in this State, including, without limitation, an excise tax at a rate of 17.65 cents per gallon of such fuel sold, distributed or used in this State; and (2) requires the proceeds attributable to this tax rate to be deposited in the State Highway Fund. (NRS 365.175, 365.540) Section 29 of this bill provides a discount of 100 percent of this tax rate for all motor vehicle fuel, except aviation fuel, sold, distributed or used by a supplier in this State during Fiscal Year 2023-2024. In place of the proceeds of this excise tax on motor vehicle fuel, section 29 appropriates $250,000,000 from the State General Fund to the State Highway Fund for the administration, construction, reconstruction, improvement and maintenance of highways in this State. Section 29 requires the Department of Motor Vehicles to determine if the amount of proceeds of this excise tax on motor vehicle fuel collected during Fiscal Year 2023-2024 would have, in the absence of the discount, exceeded $250,000,000. Section 29 further requires the State Controller to transfer money from the State Highway Fund to the State General Fund in an amount equal to the amount by which the calculated amount is less than $250,000,000, or from the State General Fund to the State Highway Fund in an amount equal to the amount by which the calculated amount is more than $250,000,000. Section 29 requires the State Treasurer to provide notice to the holders of certain bonds regarding the provisions of this bill. Section 30 of this bill makes appropriations to the Department of Motor Vehicles and the Department of Taxation for costs relating to carrying out the provisions of this bill. Section 31 makes an appropriation to the Office of the Attorney General for investigations and enforcement actions related to the provisions of section 29.

Statutes affected:
As Introduced: 363C.200, 363C.300, 363C.310, 363C.320, 363C.330, 363C.340, 363C.350, 363C.360, 363C.370, 363C.380, 363C.390, 363C.400, 363C.410, 363C.420, 363C.430, 363C.440, 363C.450, 363C.460, 363C.470, 363C.480, 363C.490, 363C.500, 363C.510, 363C.520, 363C.530, 363C.540, 363C.550, 363C.560
BDR: 363C.200, 363C.300, 363C.310, 363C.320, 363C.330, 363C.340, 363C.350, 363C.360, 363C.370, 363C.380, 363C.390, 363C.400, 363C.410, 363C.420, 363C.430, 363C.440, 363C.450, 363C.460, 363C.470, 363C.480, 363C.490, 363C.500, 363C.510, 363C.520, 363C.530, 363C.540, 363C.550, 363C.560