California Companies Flock to Las Vegas Due to “Business Friendly” Tax Structure
LAS VEGAS, NV – Due to a desire to escape the overwhelmingly high taxes in their home state, reports indicate that scores of California companies have been flocking to Las Vegas in recent months due to Nevada’s far more “business friendly” tax structure.
Among the top destinations in Nevada that these newly transplanted companies are heading for are Las Vegas, Henderson, and Reno; these three cities alone are in the top ten throughout the overall United States locations that California businesses are heading for in an effort to lessen their overhead expenses and free up funding for investment in their local communities.
Essentially, Southern Nevada is becoming one of the premiere destinations for companies looking to flee the Golden State to get more bang for their buck, according to financial analyst Steve Budin.
Nevada has long had a reputation of being a business-friendly state,” he said.
Las Vegas Valley realtor Anthony Luna concurred with his associate’s sentiment, noting that California companies currently make up a large percentage of his business, with out-of-state investors currently funding 56 new construction projects under his watch.
Local business owner Austin Pena noted that his company has saved millions of dollars after relocating to Nevada.
It has helped us understand the value of a dollar and how we should be as efficient as possible,” he said.
One of the main factors that are drawing numerous businesses to Southern Nevada is the fact that the state does not have a warehouse tax, an advantage that California cannot boast of; this accounts for the large number of companies that deal in warehouse goods that have been uprooting their operations and relocating to Las Vegas these days.
Another factor driving California businesses to come to Nevada is that commercial space back home is becoming extremely limited; in particular, it is becoming increasingly difficult to find warehouse and office space combined in California, whereas such accommodations are easy to come by in Nevada.
And finally, it can be said that Nevada’s “business-friendly” tax structure also benefits the state’s residents as well, as the taxes paid by new companies setting up in the state will go to funding public amenities such as schools, firehouses, police stations.
Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.