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Las Vegas Nevada Form 1040 (Schedule B): What You Should Know
Tax Forms and Publications β Las Vegas Publication:Publication Number:Publication Title:Publication Serial Number:Date Issued: Publication Details The most recent publication is: August 8, 2018. This publication shows tax rates for tax years 2014β15 and 2015β16. Tax Rates for Tax Years 2014β15 and 2015β2016 2015β16 Tax rate: 10.0 β β10.0 % Rate: 10.0 β β5.0% Tax rate: 10.0 β β5.0% Effective rate: β9.9% β1.5 % 2014β15 Tax rate: 10.0 β10.0 % Rate: 10.0 β β1.0% Rate: 10.0 β β1.0% Effective rate: β8.4% β1.0 % The tax on interest in excess of 5,000 paid to a Nevada resident under this section may be taxed as a dividend to an investment fund (that is, it is not a return of capital. See Sec. 1271). However, if an interest is paid within the first 3 years after becoming resident, such interest shall be included in the resident's gross income. After 3 years, such interest shall be subject to fringe benefit tax only to the extent its inclusion in the resident's gross income exceeds certain statutory limits. Any interest in excess of 5,000 paid to a Nevada resident under this section shall be included in gross income and taxed at the highest of: (1) 10.0%; or (2) the annual rate described in Sec. 1271(d). Tax Rate For Interest In Excess Of 5,000 If an interest is paid under this section in excess of 5,000 within the first 3 years after becoming resident and if the tax is not paid at the lowest of (1) 10.0%, or (2) a rate not to exceed 21.7%, such interest shall be included in the resident's gross income and taxed by the income tax on interest under section 4709. Tax Rate For Interest in Excess Of 5,000 At 21.7% If an interest in excess of 5,000 is paid in the last 3 tax return years of residency or in the first 5 tax return years after becoming resident and if the tax is not paid at the lowest of (1) 10.
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