A Less Taxing Tahoe

the choice is clear

THE BOTTOM LINE

PLANNING YOUR LEGACY

When we say that Clear Creek is borderline perfect, we’re referring to the considerable advantages of enjoying a residence on the eastern side of the state line that bisects Lake Tahoe. Those who envision a liquidity event, work from a home office, or travel extensively may find a Nevada address a prudent choice.

Tahoe is a unique destination, a lake literally bisected by the state line. The California side features nearly the highest income tax rate in the country – especially now with new restrictions on deducting state and property taxes. The Nevada side, with its pristine eastern shore, is a natural wonderland with the equally wondrous advantages of a Nevada residency – no state income tax, no business tax, and no inheritance tax. Our county also features the lowest real estate taxes of any county in Nevada. It raises the question, why live anywhere else at Tahoe?

The Letter of the Law

We asked Ashley Quinn, CPAs with offices nearby in Incline Village and Reno, to assist Clear Creek members considering Nevada residency. The initial consultation is on us. You can learn more at ashleyquinncpas.com 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 have a requirement 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.
A corporation organized and established in Nevada could also 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.
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.
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Obtain the Property Report required by Federal law and read it before signing anything. No Federal agency has judged the merits or value, if any, of this property.

WARNING: THE CALIFORNIA DEPARTMENT OF REAL ESTATE HAS NOT INSPECTED, EXAMINED, OR QUALIFIED THIS OFFERING.

The information set forth in this website is not intended to be an offer to sell nor a solicitation of offers to buy property in Clear Creek Tahoe by residents of Connecticut, Hawaii, Idaho, Illinois, New Jersey, Oregon, Pennsylvania, or South Carolina or any other jurisdiction where prohibited by law.

Notice to New York Residents

The developer of Clear Creek Tahoe and its principals are not incorporated in, located in, or resident in the state of New York. No offering is being made in or directed to any person or entity in the state of New York or to New York residents by or on behalf of the developer/offeror or anyone acting with the developer/offeror’s knowledge. No such offering, or purchase or sale of real estate by or to residents of the state of New York, shall take place until all registration and filing requirements under the Martin Act and the Attorney General’s regulations are complied with, a written exemption is obtained pursuant to an application granted pursuant to and in accordance with Cooperative Policy Statements #1 or #7, or a “No-Action” request is granted.

This website, and the information and materials displayed herein, are intended to provide general information about the proposed plans for the Clear Creek Tahoe, and these proposed plans are subject to change or cancellation (in whole or in part) at any time without notice. Land uses, public and private facilities, improvements, and plans described or depicted herein are conceptual only, subject to government approvals and market factors, and subject to change without notice. Nothing in this website obligates Clear Creek Holdings, LLC or any other entity to build any facilities or improvements depicted or described herein, and there is no guarantee that any illustrated or described proposed future development will be implemented. No guarantee is made that the features and amenities depicted by artists’ renderings or otherwise described will be built, or, if built, will be the same type, size, or nature as depicted or described.

Photographs and renderings of private homes, amenities, or facilities contained in this website may not be located within the described development. Neither this website, nor the information and materials described herein, nor any communication made or given in connection with any of the foregoing, may be deemed to constitute any representation or warranty or may otherwise be relied upon by any person or entity.

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.

Clear Creek Tahoe Golf Notification

Access to and use of golf facilities is not included in the purchase of property and require separate membership. Memberships in the Clear Creek Tahoe golf club are subject to application and approval and payment of applicable fees and dues by and to the club operator.