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The department has been in operations since 1917, when the Nevada Tax Commission was established. [3] It was only in 1975 that the Department of Taxation was created and the commission became part of its ruling body, serving as the head of the department. [4]
The state treasurer is the chief banker and investment officer for state government. As such, the State Treasurer's Office manages the state's cash flows and investments, issues and services the state debt, and administers Nevada's unclaimed property laws.
The government of Nevada comprises three branches of government: the executive branch consisting of the governor of Nevada and the governor's cabinet along with the other elected constitutional officers; the legislative branch consisting of the Nevada Legislature which includes the Assembly and the Senate; and the judicial branch consisting of the Supreme Court of Nevada and lower courts.
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EFTPS allows scheduling payments up to 365 days in advance. Payments cannot be scheduled in advance more than 30 days with Direct Pay. EFTPS allows taxpayers to pay federal taxes 24/7. Direct Pay only allows for the payment of individual tax payments (1040 series) and estimated taxes. It does not cover business-related taxes.
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Nevada has no personal income tax or corporate income tax. [141] Since Nevada does not collect income data it cannot share such information with the federal government, the IRS. [142] The state sales tax (similar to VAT or GST) in Nevada is variable depending upon the county. The statewide tax rate is 6.85%, with five counties (Elko, Esmeralda ...
In most states, the accounts payable and cash management functions are performed by different state officials. The same reality holds true in Nevada, where the state controller (as chief fiscal officer) processes accounts payable while the state treasurer (as chief banker and investment officer) is responsible for cash management.
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