Las Vegas Nevada economics

Las Vegas is trying to attract business from California in an effort to diversify the local economy (which of course currently relies heavily on gaming). The slow-down following 9/11 drove that point home although Vegas has recovered. In fact, personal income in Las vegas is up 34 percent between 2001 and 2005 and gaming revenue is up 28 percent over the same period.

Back to the main topic: there are a number of reasons for businesses to move to Vegas, and 77 have already left California for Sin City.

California’s expensive workmen’s compensation insurance, tax structure (corporate tax is 8.84% and personal income tax is 9.3% in California), high cost of living and potentially unreliable power grid are all negative factors for businesses.

Nevada has no corporate or personal income taxes. If you’re considering a trip to Las Vegas, for vacation or to scout for a new corporate headquarters, why not check out my new Las Vegas vacation site with information on entertainment, hotels, and more.

2 Responses to “Las Vegas Nevada economics”

  1. Luke says:

    wow..I did’nt know that Vegas has no corporate or personal income taxes. Just to get this straight if I go to vegas and get a job they will not take out state taxes on my W2?

  2. James Trotta says:

    I think so. I understand that Texas (like Nevada) has no personal income tax. Not sure about corporate tax in Texas though.