If 2021 was a historic year for state tax reform, then what does the future hold for new business taxes or tweaks to the current tax code as Nevada voters go to the polls in November to elect a new slate of lawmakers? Those lawmakers will take office in January when the legislature reconvenes. In a major development last year, lawmakers approved a bill near the end the 81st … [Read more...] about Nevada Taxes
Multifamily in NevadaDemand Outspaces Supply
Nevada continues to be one of the fastest growing states in the nation. The downside to population growth is the inability of the multifamily commercial real estate market to keep up with demand for space, leading to rising rents and increased values for buildable land. “From a housing perspective, apartments, condos and housing, right now there is a significant shortage of … [Read more...] about Multifamily in Nevada
Nevada UtilitiesGrowth Continues Amid COVID, Cybersecurity Concerns
A recent cyberattack on the Delta-Montrose Electric Association (DMEA) in Colorado that shut down 90 percent of its internal controls and erased 25 years of historical data is a reminder for Nevada utility companies that bad actors are constantly targeting their infrastructure. It also comes at a time when these companies are experiencing increased demand for service as the … [Read more...] about Nevada Utilities
Economic Forecast 2022Nevada’s Economy Recovering – But Coronavirus Still Haunts State
Last year’s theme for Nevada’s economy was one of recovery versus recession as the state entered 2021 with coronavirus restrictions still in place. As the year progressed those restrictions slowly eased allowing for gaming revenues to recover, even as thousands of employees remain sidelined. The recovery was also assisted by employment recovering to pre-coronavirus levels in … [Read more...] about Economic Forecast 2022
Unique ChallengesRural Nevada, Housing and Innovation Zones
When it comes to rural communities, flexibility and community support are essential proponents for any business. Right now, there are a lot of interesting things happening in rural Nevada. At the top of the list is the issue of innovation zones. A company proposing to create self-governing, corporate-owned communities within thousands of acres of land it owns in a rural county … [Read more...] about Unique Challenges
Mining for TaxesRaising State Revenues in Nevada
It is well known that any debate in the Nevada Legislature over raising mining taxes has been a controversial topic since prospectors first struck gold in the 19th century. Previous efforts to raise the tax or reduce the ability of companies to deduct net proceeds have come up short. Opponents have argued successfully that any increase in the tax rate would severely … [Read more...] about Mining for Taxes
Business Survival VS. Pandemic DestructionBankruptcy in Nevada
For Nevada businesses struggling to survive during the coronavirus pandemic, bankruptcy may end up being the only way out. While overall filings nationally were up 20 percent last year, according to bankruptcy court records, the number of businesses in the state that filed Chapter 11 bankruptcy, which involves reorganizing and remaining in operation, have remained relatively … [Read more...] about Business Survival VS. Pandemic Destruction
Industrial SubmarketDemand Over Pandemic
The industrial real estate market has been crucial to the economy throughout the coronavirus pandemic as its stability has been driven by demand from e-commerce companies as consumer spending habits have shifted away from brick-and-mortar retail to online. That shift may be permanent as Nevada’s economy begins to recover from the pandemic. But some brokers believe retail … [Read more...] about Industrial Submarket
Healthy FinancesBanking on Nevada
Despite the ongoing changes and challenges brought by the coronavirus pandemic, the Nevada banking industry is in a much healthier place than it was after the Great Recession in 2008. Total assets of the 68 financial institutions in the state were $108.2 billion, according to recent statistics compiled by the Federal Deposit Insurance Corp. (FDIC). Banking executives … [Read more...] about Healthy Finances
Luxury DemandOpulent Homes Selling in Nevada
Recently, a home in MacDonald Highlands in Henderson sold for $5.35 million. While significantly higher than the median sale price, it’s representative of a typical transaction these days, according to real estate brokers and developers in Nevada. What was unusual about this particular deal was that the 80-year-old retiree in Florida who purchased the home conducted the … [Read more...] about Luxury Demand
Nevada’s Title IndustryOn the Sidelines
Ask Robert Ray how Nevada’s title industry from a commercial real estate perspective is doing amid the coronavirus pandemic, and you’ll get a mixed response. In the title business for 25 years, and senior vice president, manager of Fidelity National Title Group in Las Vegas, Ray is anxious to see how the industry recovers as businesses begin to reopen and employees begin … [Read more...] about Nevada’s Title Industry
Supply & DemandNevada’s Industrial Market
The demand for industrial space has been extraordinarily strong in Nevada throughout this economic expansion and is expected to stay consistent throughout the rest of this year and into 2021, according to real estate professionals throughout the state. Originally, a decline in demand was expected due to the country’s trade war with China, but with trade tensions easing that … [Read more...] about Supply & Demand
How to Lease or Buy: A Guide to the Rebounding Commercial RE Industry
Buying or leasing commercial real estate is a stressful and complex process that can be difficult for even the best of brokers in Nevada. What about for entrepreneurs or business executives whose areas of expertise may be in gaming or healthcare? How should they evaluate the pros and cons of buying or leasing, choosing a location and making a purchase? Taber Thill, senior … [Read more...] about How to Lease or Buy: A Guide to the Rebounding Commercial RE Industry
Banking On Nevada: An Industry Still in Recovery
Nevada’s banking industry, which was hit hard during the recession, continues to see challenges today. Some bankers believe post-financial crisis regulations, rising interest rates and the popularity of mobile banking and other technology will continue to change their industry. Others believe China’s economic slowdown, Saudi Arabia’s worsening relations with Iran and an … [Read more...] about Banking On Nevada: An Industry Still in Recovery
Economic Forecast 2016: Increasing Stability and Growth
According to analysts, Nevada’s economy will continue to show improvement in 2016, but with a few new wrinkles thrown in. Rising wages will mean more disposable income, which in turn boosts consumer spending. Job creation, described as the single best indicator of economic growth, is expected to add more than 52,000 workers to company payrolls this year, according to the Nevada … [Read more...] about Economic Forecast 2016: Increasing Stability and Growth
Nevada Taxes Reaching Deeper
Hall of Fame baseball player Yogi Berra once said it is deja vu all over again. He wasn’t wrong if he was describing Nevada politics and biennial efforts to create a tax code that can better withstand economic recessions. Nevada lawmakers have recently been debating another proposed tax increase geared towards adding funds to the state’s woeful educational system. In total, … [Read more...] about Nevada Taxes Reaching Deeper
The Retail Market: Recovering with Measured Expectations
With a New Year upon us, real estate brokers and developers are dampening their expectations for the retail market in Nevada over the next couple of months and for the rest of 2015. Nevertheless, all of them see positive trends for the market and some reason to remain optimistic. “We are clearly in a recovery,” said Brendan Keating, principal with The Equity Group in Las … [Read more...] about The Retail Market: Recovering with Measured Expectations
Economic Forecast: 2015 Preview
Economists and industry analysts can, and will, argue over whether an economic recovery is as strong as numbers seem to indicate. However, they do agree the numbers show Nevada’s economy is on track to strengthen and add more jobs in 2015 because many of the impediments to faster growth have subsided. The unemployment rate has dropped to its lowest level in more than five … [Read more...] about Economic Forecast: 2015 Preview
Welcome to Nevada: Tax Changes Looming
Nevada is well known as a corporate tax haven. Many large companies are incorporated in Nevada, particularly those whose headquarters are located in California, Arizona or Utah. There are several reasons for this. One is that Nevada law provides strong protections against holding corporation’s owners responsible for the actions of a corporation. Another reason has to do with … [Read more...] about Welcome to Nevada: Tax Changes Looming
Executive Education: New Pathways to Success
When the University of Nevada, Reno (UNR) Extended Studies program held a series of leadership sessions for Barrick Gold, the event embodied new trends in executive education in Nevada. The 15 courses held over two months were shorter than the training once offered by business schools and colleges. Instead of theoretical discussions of leadership, the program covered … [Read more...] about Executive Education: New Pathways to Success