Tax Advantages of Nevada
California Business magazine says the best state in the country overall for business is Nevada. This January, the magazine published the results of a 50 state survey which showed the pastures really are “greener on the other side of the state line”.
A research team from California Business collected information on all 50 states. They brought together government statistics and private research reports and compared special interest data bases. Twenty different measures of state social, economic and business health were chosen as being of primary importance. Nevada was chosen largely because of its pro-business attitude. The study ranks Nevada high in the following areas:
- Overall business climate
- Lowest corporate profits tax
- Best overall economy
- Population growth
- Employment growth
- Lowest combined major state and local tax
- Number of new companies per 10,000 workers
- Gross state product (GSP) growth
- Number of environmental policy initiative in place
All of this goes to show that a move to Nevada is a move to the greener pastures of a top-ranked business climate.
Here are some simple tax facts. In Nevada, there are fewer taxes and a lower tax burden than in most other states. That’s why Nevada is on every list of the top tax havens. Just this year, Money magazine ranked Nevada as one of the states with the lowest tax bill and California Business magazine rated Nevada as best overall for business based on a review of several factors including a low tax burden.
In Nevada, there is:
- No personal income tax
- No corporate income tax
- No inheritance, estate or gift tax
- No franchise tax
- No unitary tax
- No special intangible tax
- No chain store tax
- No admissions tax
- No inventory tax
Lake Tahoe: America’s All-Year Playground
Lake Tahoe is 180 miles northeast of San Francisco, with access by major highways and airports on both north and south shores. Reno is within 50 minutes. Virginia City, the famed Ponderosa Ranch, the Carson Valley and many historic sites are within an hours drive.
Lake Tahoe is North America’s largest alpine lake, measuring 12 miles wide, 22 miles long and 72 miles around. It is the third deepest lake in the world with an average depth of 989 feet. The lake’s capacity is 122,000,000 acre-feet which is enough to cover the state of California with more than one foot of water. The Lake is two thirds in California and one third in Nevada. Because of several decades of stringent growth and development ordinances, the lake remains 99.7 percent pure. The average surface temperature of the water varies from 41 degrees in winter to 68 degrees in summer. The lake never freezes. Lake Tahoe’s weather forecasts 80 percent chance of sunshine in any season, low humidity, 40-50 degree average winter temperatures and 70-75 degree average temperatures in the summer. Average annual snowfall is 350 inches.
Long before white settlers arrived in the Lake Tahoe Basin, and for nearly 10,000 years, the lake was home to the Washoe Indian. They considered Lake Tahoe sacred – the water of life which fed all living things. The discovery of gold and silver in the Sierra, the arrival of the white man and the growth of towns and settlements in the late 1800’s, ended the era of the Washoe. Lake Tahoe became the favorite summer vacation spot for wealthy San Franciscans in the 1900’s, beginning the reign of tourism as the foundation of the lake’s economy.
Today, mild temperatures and the crystal clear lake encourage outdoor enthusiasts to sample Lake Tahoe’s many recreational activities: golfing, hiking, swimming, boating, fishing, camping, sailing, biking and horseback riding. And in the winter, Lake Tahoe proves its reputation as one the world’s finest year-around playgrounds with American’s highest concentration of ski resorts, including Squaw Valley/USA, host of the 1960 Winter Olympics. Alpine Meadows, Heavenly, Kirkwood and Northstar are but a few of the many major ski areas to choose from. Complete community services are available around the entire lake with a full range of fine restaurants, casino-hotels and top-name entertainment, convenient shopping, excellent public schools, colleges and an active arts community.
Lake Tahoe A Good Business Climate
Northern Nevada is known for more than just exciting casinos, excellent dining and exceptional weather. It’s also famous for being one of the nation’s most desirable places to reside. With a tax and business climate as agreeable as the weather itself, it’s no wonder so many individuals and companies are moving to the area.
Nevada imposes no corporate or personal income tax; no unitary tax, no inventory tax, no estate or gift tax, and no franchise fee or franchise tax on income. In addition, Nevada also offers a wide variety of incentives and perks, earning it a #1 ranking for desirable business climates from California Business magazine (Jan. ’92) and a #3 ranking for lowest state and local tax burden from Money Magazine (Jan. ’94.
And Lake Tahoe is ranked by Rand McNally as the nation’s #1 location for outdoor recreation, including skiing, water sports, hunting, fishing, hiking, camping, golf and tennis.
Plus, Reno/Tahoe is the cultural center of the Sierras with an internationally acclaimed opera company, a symphony orchestra, chamber orchestra, ballet, chorale, several repertory theatre companies, art galleries, museums and an active Young Audiences program.
The region also touts a strong educational record, with the best SAT and ACT scores in the state, and a national test ranking that is above average.
Incline Village Geographical Subdivision Characteristics
Lakefront– Prestigious area with a wide range of custom homes and estates. Prime Incline real estate. Burnt Cedar Beach was named by Ray Smith because of a large burnt cedar tree that stood there for many years. Elevation approximately 6,225’.
Mill Creek– Low elevation neighborhood with a high percentage of year-round residents. Primarily residential single family homes. Mayhew Circles is named after Dick Mayhew, the draftsman for ray Smith who was Vice President of The Crystal Bay Development Company. Elevation approximately 6,300’ to 6,400’.
Golf Course– Single family custom residences and condominiums in a low elevation central location surrounded by green belt areas and convenient to both the Championship and Mountain Golf courses. Harold drive is named after Harold Tiller, one of the three original founders of Incline Village. Elevation approximately 6,400’ to 7,040’ at the Mountain course.
Apollo– A wide range of single family homes in a high elevation area of Incline Village, many with lake views and surrounded by forested areas. Elevation low is 7,160’ to a high of 7,490’.
Lakeview– Single family homes, low elevation, close proximity to neighborhood shopping, the Post Office and some lake views. James lane is named after James McCourry, one of the three founders of Incline. Tiller Drive is named in honor of Harold Tiller. Mays Blvd. is named after Ray Smith’s wife May. Ray was in charge of planning and development in the early stages thus he had a lot of influence over the street names. 6,300’ to 6,400’ is the elevation range.
Lower and Upper Tyner– Some lake views, and a wide range of single family homes with an average elevation of approximately 7,000’. Spencer Way is named after Ray Smith’s son and Tyner was the maiden name of ray Smith’s wife May. Tyner is the longest street in Incline with Lower Tyner beginning at an elevation of 6,800’ and climbing to 7,120’. Upper Tyner starts at 6,800’ and tops at 7,840’, making it the highest residential subdivision in Incline.
Central– this subdivision is so named because it was the central hub of the original plan of Incline Village. Mostly condominiums, townhouses, commercial and retail, with some apartments and a few single family homes. This area includes the Hyatt Hotel, visitors center, restaurants, the public library, churches, the hospital, recreation center, tennis complex, and the Raley’s Shopping Center. Juanita Drive is named after Art Wood’s wife. Elevation ranges from 6,300’ to 6,600’.
The Woods– A low elevation neighborhood consisting mostly of single family homes with wooded views near Incline High School, Preston Field, the Sheriff’s substation and churches. The Woods subdivision is named after Art Wood, on e of the three founders of Incline Village. McCourry Street is named after James McCourry and Donna Drive is named after his daughter. Kelly Drive is named after the first maintenance man Charles Kelley. Three attorneys had streets named in their honor. Don Carano (a Reno Attorney) and Bob McDonald (who was responsible for showing the Incline property to Art Wood) have Donald Lane and McDonald Way named for them respectively. North and South Dyer Circle and Jensen Circle, are named after the third attorney, Dyer Jensen. Gary Way and Pat Court are named after Art Wood’s sons and Betty Lane is named in honor of his housekeeper. The elevation ranges from 6,300 to 6,400’.
Eastern Slope- Primarily single family custom homes in a prestigious area known for its panoramic lake views and magnificent sunsets. Elevation ranges from 6,6+00’ to 7,600’.
Ponderosa– Single family residences, with elevations beginning at 6,250’ and goes to 6,800’. Some lake views and many year-round residents.
Jennifer– A wide range of single family residences, many full timers. This area provides some lake views and is surrounded by forested areas. Geraldine Drive is assumed to be named after Don Marek’s wife. Don was head of Boise cascade, the company that bought out the Crystal Bay Development. A low elevation of 6,800’ to a high of 7,400’.
Ski Way– The Diamond Peak ski resort area, includes condominiums, many freestanding, and residences. Some with spectacular full or partial lake views. Elevation 6,400’ to 7,240’ at upper Tyrolian Village.
Area Facts: Incline Village
- In 1959, there were a few homes in Incline Village. The actual Boise Cascade development began in 1968.
- Incline Village is NOT incorporated.
- The Incline Village General Improvement District is governed by five trustees, elected every two years for four year terms.
- Incline Village consists of 9,000 acres, 4,500 of which would have been developed if the original plans were to be completed. There are approximately 9,000 lots.
- Elevations range from 6,225 to 7,700 feet. The average snowfall is 181 to 189 inches. There is an average of 290 days of sunshine each year.
- Average temperatures are 30 to 32 degrees in winter and 70 to 75 degrees in summer.
- There are (according to the Chamber of Commerce) 6,225 permanent residents in Incline Village. During the peak tourist time, it is estimated that this figure increases to 22,000 persons.
- There are two golf courses in Incline Village. The Championship course is a par 72 totaling 7,200 yards and the Mountain course is a par 56 totaling 3,400 yards.
- Diamond Peak Ski Resort has 23 runs and seven lifts. The Incline beaches have a total of 2,400 feet of lake frontage. There are currently seven tennis courts as well as a private tennis club.
- Incline Village has one elementary school, one middle school, one high school, one college (Sierra Nevada College) and one private school, Lake Tahoe School serving grades PreK – 8th.
- Tax Rate: Property is taxed at $3.29 per $100 of assessed value.
The Incline Village General Improvement District assesses the following fee for Recreation and Beach Facility Fee of $830.00 per parcel owner. The above information is in effect as of July 1, 2010. The fiscal budget year begins on July 1st of every year and is approved and voted on by the current IVGID Board of Trustees. The Recreation Facility Fee and its amenities are subject to change.
The History of Incline Village
Once upon a time, there was a lovely, azure blue lake, surrounded by lush forest. When Mark Twain first viewed Lake Tahoe, he remarked that “surely this is the finest view the world affords.”
Lake Tahoe’s first residents were the Indians who lived and fished along its shores. As time Passed, and civilization moves West, settlers paused in the passes to the North and South to marvel at the color and clarity of this magnificent body of water. Incline Village slept through the Lake’s early development, as the centers of activity in the early days sprang up at South Lake Tahoe, Glenbrook and Tahoe City.
In the mid-1800’s, lumber interests discovered the Nevada North Shore as an excellent source of timber for the Washoe mines, and at that point, began the methodical logging of the area we know as Incline Village.
It was called “Incline” in those days; the name was derived from the double track narrow gauge tramline, which carried logs nearly 1,400 feet vertically to the V-flume, which ran along the mountain top granite outcroppings. The 4,000 feet-long tramline was located in the area of what is now Mill Creek Subdivision. (Hikers will find the scars and remnants of the tramline and flume in the area between Mill creek and Sand Harbor Beach.)
The V-flume carried Incline’s timber on the first leg of its route to the water tunnel through the mountains on and to the mines of Virginia City and the Washoe Valley.
In 1884, the remote settlement of Incline was declared both an election precinct and a fourth class post office, thus marking the first time that Incline was “on the map.”
By 1887, Incline has been left a sea of stumps, with a maze of crumbling flumes and rotting log chutes … the ugly duckling of the Lake area. Incline was left to sleep and rejuvenate itself.
In the early 1900’s visitors to Lake Tahoe spent glorious summer holidays in the vacation paradises of Glenbrook and Tallac to the South, and Tahoe Tavern and Brockway to the North. A one-lane road connected the North and South Shores, and in the 1930’s, summer homes were built in the area of Incline Beach (south from Hyatt Lake Tahoe Hotel, along Lakeshore Boulevard.)
By this time, the lumber interests had sold most of the Nevada North Shore from Crystal Bay to Zephyr Cove to a multi-millionaire real estate magnate, “Captain” George Whittell. Captain Whittell built his stone castle on a point south of Sand Harbor (his home can be seen from the road as you are driving to the South Shore). Captain Whittell was quite a character, and, at one time, had wild animals roaming his reserve.
Incline was little more than a “wide spot” in the road during the 30’s, 40’s, and 50’s, with only summer homes and a trailer park to distinguish it. Year-round residents were few, and those who remain tell stories of wild winters, food shortages and isolation.
In the late 1950’s, Crystal Bay Development Company approached Captain Whittell, then in his declining years, with an offer to purchase the 9,000 acres which is Incline Village today. Crystal Bay Development Company had a grand plan for a community totally unique and master-planned to perfection. The sale made, development began, and in the 1960’s, roads were cut, a ski area was designed, beaches were developed, and Robert Trend Jones was contacted to conceive a golf course which would couple beauty and challenge.
Lot and condominium sales were brisk. Private homes were under construction along Lakeshore Boulevard (then the main highway), in Mill Creek, the central areas, and on the view sites in Chateau Acres and Country Club Subdivision. The lower Ponderosa area was developed, and lakefront condominiums were built. (Don’t you wish you had been here then … when lakefront condominiums were selling for under $40,000!) A small shopping center began, with market and post office. Children attended elementary school above the present site of Incline Drug. High school students were bussed to Reno – leaving at 6:00 in the morning and on winter days, not returning until 8:00 to 9:00 at night.
Crystal Bay Development, in an attempt to preserve something of those early logging days names this new community “Incline Village.” By 1964, a new elementary school was under construction, and several years later, the community cut the ribbon at Incline High School. Incline Village was on its way. In June of 1968, Crystal Bay Development Company sold its remaining interests to Boise Cascade Corporation. New development began.
A second golf course designed by Robert Trent Jones, Jr. was constructed and Incline Village Units 1, 1A, 1B, 2, 3, 4 and 5 were master planned. Land sold quickly. Large condominium projects were built – Mountain Shadows, Forest Pines. Where supply could not meet the demands of the 1960’s, now, in the early 1970’s, supply exceeded the demand and Incline Village was ready for another “nap.”
Recovery came in 1976, as renewed interest in Incline Village as a year-round community sprang up. Residents became interested in their political future – the subject of incorporation was discussed; the possibility of forming a new Lake County was explored. The swing had started toward a community with a larger percentage of permanent residents, and facilities were built to handle their needs.
And, that brings us to the Incline Village we have today … with signs of a healthy future in evidence around every corner. Incline residents and property owners come from all parts of the country and the world. They are hard working young families and relaxed retirees. They are corporation executives, airline pilots, teachers and builders. They are artists, writers and astronomers. They are recreationally active, and environmentally protective. And, they have one common denominator, their all-encompassing love for Incline Village and Lake Tahoe.
Why do we love life at Lake Tahoe, and more specifically, in Incline Village? Part of it is clear, crisp air; the clean, pure water we drink from the Lake without the need for purification, and the anticipation we feel for each new season. And, in Incline Village, it is the pride of ownership – ownership (we inherit as property owners) in our recreational facilities – three beaches, two golf courses, our ski area, tennis complex and parks – the sense of “community” we feel as a result of our well-defined boundaries, and the satisfaction we gain as participating members of a small, growing community.
We invite you to join us here. The only requirements for residency are a deep appreciation for our beauty, a willingness to try a new, more relaxed form of living, and a bit of the pioneer spirit!