Nevada Tax Commission Proposes Rules Regarding North American Industry Classification System

The Nevada Tax Commission proposed a regulation regarding the North American Industry Classification System (NAICS). The regulation specifies that the edition of the North American Industry Classification System which is applicable to regulations governing the commerce tax is the same edition which is applicable to the provisions of statute governing the commerce tax. The NAICS is used to classify business entities for purposes of determining commerce tax rates on entities with Nevada gross revenue exceeding $4,000,000 in a taxable year. [Nev. Tax Comm’n, Proposed Reg. NAC 363C, 05/21/26, 338 Nev. Reg.]