The Low-Tax State. The outstanding tax climate in Nevada is one of the best reasons to do business in the state. This tax structure also clearly distinguishes Nevada as offering a business environment very few states can match. In Nevada there is: No corporate income tax. No personal income tax. No franchise tax on income. No inheritance or gift tax. No admissions tax. No unitary tax. No estate tax.* Competitive sales and property tax rates. Minimal business tax--$25 per FTE per quarter. (*A small assessed "pick-up tax" that cannot exceed the maximum allowable credit against the federal estate return.)