What should a credible Nevada business valuation report state?
The standard of value, the premise of value, the effective date, the exact interest being valued, and every key assumption and information source. Professional standards from USPAP, the AICPA, ASA, and NACVA all require these identifications, and a report that presents a number without them will not hold up to scrutiny.
Are fair market value and investment value the same number?
No, and confusing them is a frequent and costly error. Fair market value is the price between a hypothetical willing buyer and seller under no compulsion, while investment value reflects worth to a particular buyer including synergies. Selecting the wrong basis of value for a Nevada engagement can swing the conclusion substantially.
Does Nevada tax a business interest passing through an estate?
No. Nevada repealed its former estate tax and has no inheritance tax, so there is no state-level exemption amount or rate schedule to plan around. Valuation requirements for Nevada estates holding company interests come from federal estate tax rules and probate administration, both of which rest on fair market value.
Who pays Nevada personal property tax on financed business equipment?
The business in possession, not the lender. Under NRS 361.245, property subject to a security interest is deemed the property of the possessor for tax purposes, so a company using financed machinery lists and pays tax on it even though a bank holds title. Asset schedules behind a Nevada valuation should reflect that treatment.
What happens if a Nevada business skips its property declaration?
The assessor can estimate the value and add penalties. Nevada ties assessment to the July 1 lien date, and NRS 361.265 requires a signed statement listing all taxable personal property owned, possessed, or controlled. Failing to provide it invites an estimated assessment, and contesting an estimate costs more than filing a clean, well-supported declaration.