Nevada Enacts Rare One-Time Tax Amnesty Program

January 2021 – The Nevada Legislature has passed a one-time penalty and interest amnesty program beginning February 1, 2021 and ending May 1, 2021 for persons and companies doing business in the state that may have a current tax liability.

In order to qualify, the following criteria must be met: the tax was due and payable on or before to 6/30/2020, which includes monthly tax returns due on May 31, 2020 or before, and quarterly tax returns due April 30, 2020 or before.

Amnesty programs do not happen very often, so if your company has a tax liability this is a great opportunity to take advantage of the P&I savings. Read the full release from the State of Nevada Department of Taxation here