Gold and Silver Excise Tax

Gold & Silver Excise Tax

Nevada imposes an excise tax on businesses involved in the extraction of gold and silver, provided their gross annual revenue exceeds a specific amount.

Excise Tax Rates for businesses that extract gold, silver or both in Nevada:

  • 0.75% tax on taxable revenue exceeding $20 million up to $150 million.
  • 1.1% tax on any revenue exceeding $150 million.

On January 24, 2022, the Nevada Tax Commission adopted Regulation R130-21, which outlines the administration, calculation, and payment of this excise tax.

Starting from July 1, 2023, funds collected under the Gold and Silver Mining Tax for Education will be directed to the Nevada State Education Fund.


Gold and Silver Excise Tax Return

  • Who is it for? This form is used by businesses to report and pay excise taxes on gold and silver transactions during the tax period.

Gold and Silver Excise Tax Return Instructions

  • Who is it for? Provides detailed guidance on how to correctly fill out the Gold and Silver Excise Tax Return, including applicable rates and deduction options.

Extension to File Gold and Silver Excise Tax Return Form

  • Who is it for? Allows taxpayers additional time to file their Gold and Silver Excise Tax Return.

Gold and Silver Estimated Quarterly Tax Payment Voucher

  • Who is it for? This voucher is for taxpayers that need to make quarterly estimated tax payments on expected gold and silver excise tax liabilities.

Universal Request for Waiver of Penalty and Interest

  • Who is it for? This form is for taxpayers to request a waiver for penalties and interest applied to late or underpaid taxes.


Tax Calculation:

  • Annual Revenue: $200 million
  • Tax Brackets:
    • 0.75% on revenue up to $150 million
    • 1.1% on any revenue exceeding $150 million
  • Calculate tax on the first $150 million:
    • $150,000,000 × 0.75% = $1,125,000
  • Calculate tax on the remaining revenue:
    • Remaining Revenue = $200,000,000 - $150,000,000 = $50,000,000
    • $50,000,000 × 1.1% = $550,000
  • Total Tax Due:
    • Tax on first $150 million: $1,125,000
    • Tax on remaining $50 million: $550,000
    • Total Tax: $1,125,000 + $550,000 = $1,675,000
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