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Nevada Yearly Expenses by Quarter
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Multi-State
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US-174-AZ
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The biggest areas of expenditures are in the core functions of health and human services ($13.1 billion, roughly 44.5 percent of the budget), education ($7.1 billion, or about 24.2 percent of budget), and infrastructure ($2.6 billion, around 8.9 percent of the budget).
Nevada runs on sales tax. In Nevada, 58% of tax revenue came from general sales tax, 24.4% from selective sales tax, 6.7% from licenses, 3.7% from property tax, 1.3% from severance and 7.9% from other tax sources.
Nevada runs on sales tax. In Nevada, 58% of tax revenue came from general sales tax, 24.4% from selective sales tax, 6.7% from licenses, 3.7% from property tax, 1.3% from severance and 7.9% from other tax sources.
Nevada enacted its FY 2022-2023 biennial budget in June 2021. The enacted budget included total spending of $23 billion in FY 2022 and $21.9 billion in FY 2023, and general fund spending of $4.6 billion in FY 2022 and $4.6 billion in FY 2023.
The table below notes what share of Nevada's general revenues came from the federal government in 2014. That year, Nevada received approximately $2.8 billion in federal aid, 24.8 percent of the state's general revenues.
Nevada's constitution requires that the State have a balanced budget, which means it cannot deficit spend. As soon as it becomes apparent Nevada's budget is becoming unbalanced, such as when revenues fall short of projections, adjustments must be made to keep the state operating in the black.
Nevada enacted its FY 2022-2023 biennial budget in June 2021. The enacted budget included total spending of $23 billion in FY 2022 and $21.9 billion in FY 2023, and general fund spending of $4.6 billion in FY 2022 and $4.6 billion in FY 2023.
The total estimated government spending in Nevada in fiscal year 2016 was $11.5 billion. Per-capita figures are calculated by taking the state's total spending and dividing by the number of state residents according to United States Census Bureau estimates.
Slightly more than two-thirds (67 percent) of the General Fund finances two departments: the Department of Health and Human Services accounts for 31.2 percent of the General Fund, and the Department of Education accounts for 35.8 percent of the General Fund.
Nevada's General Fund revenues are derived from several sources. Sales and Use Taxes make up the largest source of revenue in the General Fund and the State 2% Sales Tax the largest major fund source, at approximately $2.6 billion over the biennium, for 29.0 percent of the total.
