Checking the Nevada tax office website recently it appears that there is a sales or 'use' tax where real estate is concerned. I dont fully understand this - what 'use' tax or sales tax would there be for the purchase of property? If this property was bought to rent out to tenants is there any such sales or use tax on the property purchase or rental income?many thanks!
Answers:
Sales & Use tax is imposed on tangible personal property, not real property. There's a list of taxable items items attached. There's no sales tax on tenent rent. There would be real estate taxes imposed on the owner of the property, and that cost can be passed on to the tenent, if the property is rented, but usually in the rent price, not a separate bill.
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