Taxes & Properties
Nevada Tax Incentives
Many individuals and businesses are motivated to relocate to the “Silver State” by the fact that Nevada does not impose a state income tax. Is relocation an option you should consider?
A Question of Residency
The single, most important prerequisite for a taxpayer to take advantage of Nevada’s “tax hospitality” is domiciling one’s self in the state. In simple terms, this means the individual must make Nevada his principal place of residence – his primary home.
Family Office Services
Residency is a question of fact. In addition to the obvious need to acquire a domicile in Nevada, taxpayers wishing to establish state residency will have to pass the “close connection test” (see sidebar for details), identifying Nevada as the state with which they have the closest ties during the taxable year.
Benefits to Individuals
Individuals who are “domiciled” in Nevada and become Nevada residents will generally escape state taxation of their income, except for income arising from sources within another state. Even taxpayers who may continue to be required to “source” one or more items of their income to a taxable state may still enjoy a significant reduction in their overall state tax burden.
Benefits to Corporations
A corporation organized and domiciled in Nevada could significantly reduce its state tax burden. States generally tax corporate business income based on the corporation’s level of activity within and outside that state. Therefore, shifting at least part of the corporation’s business activities to Nevada will generally result in a reduction of state tax. In addition, being organized and domiciled in Nevada will eliminate state taxation of the corporation’s non-business income.
Benefits to Trusts
Likewise, trusts with Nevada fiduciaries can gain a significant tax advantage. In California, for example, trusts with a California fiduciary are taxed on income retained in the trust, even if all beneficiaries are California non-residents. With a Nevada fiduciary, non-California source income, distributed to non-California beneficiaries or retained and taxable in the trust, will escape California taxation.
The Close Connection Test
Various factors are considered in determining whether a taxpayer has close ties with a particular state, including if you are physcially present for 6 months and 1 day. While no factor by itself can positively determine residency, registering to vote or claiming the homeowner’s exemption in California, for example, has been found to make the taxpayer a California resident, regardless of the other factors.
- Michelle’s List for July homes-and-land-707.pdf
- Michelle’s List for August homes-and-land-807.pdf
- Michelle’s List for September homes-and-lane-907.pdf
- Michelle’s List for Next Quarter Coming
Beautiful Homes and Properties Available
Enchanted Forest in Montreux
Stunning architecture and custom construction by Zahler Homes of Incline Village. Enchanting home designed for the family lifestyle of olden days. Sweeping views, vaulted ceilings, hand crafted staircase, two master suites both with impressive fireplaces, country chef’s kitchen and outside portico with party kitchen. This is a sophisticated residence with lovely finishes of Alder woods, Junipero granites and rich Old Oak flooring. Superb media room or game room, office and children’s rooms. Beautifully priced.
Now $2,475,000 Originally priced at $2,795,000
Chateaux Montreux
Chateaux Montreux, elegant, enchanting and divine. Luxury is the standard for all Paul Zahler Homes and this one was constructed for Paul himself! Stunning interior with gorgeous chef’s kitchen featuring Wolfe commercial grade range, Duperano granite banquet work area, and custom Alder cabinets. Enjoy the master suites (2) with full fireplaces, great room with soaring cathedral ceilings, full game room/media center and additional bedrooms with private baths for guests. Elegantly priced.
$2,475,000
See virtual tour at http://5985lausanne.com
~Smashing ArrowCreek executive home with beautiful views of the mountains $965,000~Originally valued at $1,200,000!
Smashing ArrowCreek executive home with beautiful views of the mountains, valley, city and golf course. Enjoy Tuscany in Reno! Beautiful finishes and custom colors decorate this lovely home. Gourmet kitchen with huge granite bistro bar. Awesome master suite with retreat and french doors and spa patio. Great room/family room with fireplace, formal living and dining with vaulted ceilings and express/martini patio. Wonderful family floor plan with upstairs play/rec room for the children or media room for all! 4605 sq/ft, 4 bedroom, 4 bath, 3 car garage. $975,000. For a virtual tour click here.
For more information on any of my properties please contact me.
Michelle Plevel
775-570-5777
mplevel@chaseinternational.com
Brick mansion in Reno’s most sought after address originally priced at
$1, 695,000 and now remarkably priced at $1,495,000!
Tucked away on California Street, surrounded by gorgeous views of downtown Reno, the Truckee River and mountains. This is an awesome property for the artist, writer or developer. 4887 sq/ft, 4 bedroom, 4 bath, 3 car garage, originally listed at $1,695,000. For a virtual tour click here
Michelle Plevel
775-750-5777
mplevel@chaseinternational.com
Sensational Craftsman style custom home in beautiful Saddlehorn $1,350,000 SOLD SOLD SOLD
South West Reno. Just minutes to the Sierra Summit shopping center, Mount Rose Ski Resort, gaming, dining and schools. Located on almost an acre overlooking White’s Creek on a cul-de-sac, this is a lovely setting and beautiful home. Gourmet kitchen includes 8 burner professional grade stove, 4 ovens, 2 dishwashers, granite bistro bar and breakfast nook. Adjoins fun family gathering area. Master suite is huge and has sitting area! 4500 sq/ft, 4 bedroom, 4 bath, 4 car garage. $1,350,000. For a virtual tour click here
Michelle Plevel
775-750-5777
mplevel@chaseinternational.com
Frank Lloyd Wright prairie style home-designed by Peter Wilday recently priced at $1,250,000 with water rights!
Sensational opportunity for the owner/bulider or Architect looking for a project. Superb location, panoramic views of the Sierra’s and Spring Valley. The ultimate equestrian area of South West Reno. Home is a contempory design with lots of redwood and beams. Great bone structure for a remodel. This is the dream property waiting for the inspired designer to make this a classic estate property. Call your builders agents, especially those that have been looking for homesites! 3706 sq/ft, 5 bedroom, 4 bath, 4 car garage. $1,250,000. For a virtual tour click here
Michelle Plevel
775-570-5777
mplevel@chaseinternational.com
Absolutely sensational contemporary residence in beautiful ArrowCreek $1,150,000
Classically designed by Steven Miles and Associates. This is the perfect home for the high tech client, executive or empty nester. Large inviting rooms with interesting lines. Great room design with open and inviting floor plan for entertaining. Granite, wood and stone create a warm and stylish interior. Plus, Master Suite is on the main floor. Downstairs area is super space for a rec room, media room, private office, gym or hobby area. 3600 sq/ft, 3 bedroom, 3 bath, 3 car garage. $1,150,000. For a virtual tour click here
Michelle Plevel
775-750-5777
mplevel@chaseinternational.com
Smashing ArrowCreek residence over looking the city and golf course originally priced at $1,087,000 now a steal at $799,000
Very stylish finishes including granites, woods and stone. Great single story floor plan with Casita for executive office or guest suite. Priced below developers inventory. Originally priced at $1,087,000. One of the sellers is a licensed Nevada Broker. Property will be vacant as of 6.15.07. Originally listed at $1,087,000, great buy for city views at ArrowCreek. Sellers can do lease option or rental. 3632 sq/ft, 3 bedroom, 4 bath, 3 car garage. $799,000.
For a virtual tour click here
Michelle Plevel
775-750-5777
mplevel@chaseinternational.com
Beautiful Tuscan style custom home with gorgeous Sierra Mountain views $955,000
This residence offers a fantastic floor plan that is centered around the awesome great room and gourmet kitchen that is accented by the distressed hickory plank flooring and slab granite countertops.Enjoy the master suite with a jetted tub and gas log fireplace for added ambiance.The builder has great exploitation of the large windows that overlook the Northwest Mountains. 3600 sq/ft, 3 bedroom, 4 bath, 3 car garage. $955,000. For a virtual tour click here
Michelle Plevel
775-750-5777
mplevel@chaseinternational.com
Enjoy living in a Tahoe mountain lodge in beautiful Saddlehorn $1,395,000
Over looking White’s Creek and Mount Rose! This is truly a gorgeous and unique home in Reno. Featuring natural quartsite stone floors with”hydronic heating”, grand solarium foyer which can be used as a garden or reading room, fantastic great room design with valted wood and beam ceilings. Douglas Fir cabinetry, doors and bookshelving brings a richness and warmth to the entire home. Classic gourmet kitchen fully equiped. 4500 sq/ft, 5 bedroom, 4 bath, 3 car garage. $1,395,000. For a virtual tour click here
Michelle Plevel
775-750-5777
mplevel@chaseinternational.com
