LAS VEGAS (KLAS) – The Nevada Department of Taxation has sent out its first round of refund checks going to 22,621 business taxpayers who paid a higher tax rate than they should have been. A total of $ 30.6 million will be refunded.
This is the result of a ruling by the Nevada Supreme Court that found Senate Bill 551 – passed by lawmakers in 2019 – unconstitutional. This bill changed the way the state collected corporate taxes.
Money refunded includes taxes collected from September 30, 2019 to March 31, 2021 for general corporations, financial institutions, and mining.
Before a refund can be issued, the state must verify that the credit is valid. A taxpayer’s account must be up-to-date. The state urges taxpayers to do the following:
- Taxpayers who have late tax returns, including sales / use tax, amended business tax, business tax, or excise tax, are encouraged to file the tax return (s) via US mail or using Nevada Online Tax at https: //tax.nv. gov / OnLineServices / Online_Services. All outstanding tax returns must be submitted before the refund amount can be issued.
- Refunds cannot be sent to an invalid mailing address. Taxpayers can update their address using Nevada Online Tax or the Department Call Center at 866-962-3707.
If the account is up to date and there is no refund within the next 10 days, you can contact the Treasury Department at 866-962-3707.
The next round of repayments is planned for September.