Interest on unpaid invoices in Nevada: a floating rate if no rate was agreed; the most you can set depends on the deal

Nevada's rate when no rate was agreed

What the text says: Prime rate at the largest bank in Nevada (set by the Commissioner of Financial Institutions on Jan 1 / Jul 1 before the transaction) + 2%. Applies when no express written contract fixes a different rate, from the time the money becomes due, including settled book or store accounts. Does not apply to money owed under NRS chapter 624 (contractors' works of improvement), which NRS 624.630 governs.

How the rate moves: Legal rate: Nevada largest-bank prime (Commissioner of Financial Institutions, Jan 1/Jul 1) + 2%.

• “When there is no express contract in writing fixing a different rate of interest, interest must be allowed at a rate equal to the prime rate at the largest bank in Nevada, as ascertained by the Commissioner of Financial Institutions, on January 1 or July 1, as the case may be, immediately preceding the date of the transaction, plus 2 percent” — Nev. Rev. Stat. § 99.040(1), read November 6, 2026
• “Upon the settlement of book or store accounts from the day on which the balance is ascertained.” — Nev. Rev. Stat. § 99.040, read November 6, 2026
• “The provisions of this section do not apply to money owed pursuant to chapter 624 of NRS which is governed by the provisions of NRS 624.630.” — Nev. Rev. Stat. § 99.040, read November 6, 2026
• “Following is the prime rate as ascertained by the Commissioner of Financial Institutions: January 1, 2026 6.75%” — Nevada Financial Institutions Division, Prime Interest Rate (NRS 99.040(1)), read November 6, 2026

The most you can set in Nevada

For a homeowner: No general cap — parties may agree any rate (except for covered service members/dependents: lesser of 36% APR or the federal maximum). NRS 99.050(1) lets parties agree any rate on money due on any contract, plus compounding and other charges or fees.

For a business customer: No general cap — parties may agree any rate. Same NRS 99.050.

• “Except as otherwise provided in subsection 2, parties may agree for the payment of any rate of interest on money due or to become due on any contract, for the compounding of interest if they choose, and for any other charges or fees.” — Nev. Rev. Stat. § 99.050(1), read November 6, 2026
• “A creditor shall not charge an annual percentage rate that is greater than the lesser of 36 percent or the maximum annual percentage rate authorized under any federal law or regulation with respect to the consumer credit extended to a covered service member or a dependent of a covered service member.” — Nev. Rev. Stat. § 99.050(2), read November 6, 2026
• “parties may agree for the payment of any rate of interest on money due or to become due on any contract” — Nev. Rev. Stat. § 99.050(1), read November 6, 2026

Late fees in Nevada

What the text says: No numeric cap found: retail installment contracts may carry any finance charge and any other fee, expense or charge the parties agree (NRS 97.195); NRS 99.050 allows any agreed charges or fees on a contract. NRS 99.050: any contract.

• “The amount of the finance charge in any retail installment contract and of any other fee, expense or charge may be any amount agreed upon by the parties.” — Nev. Rev. Stat. § 97.195 (Amount of finance charge and any other fee, expense or charge), read November 6, 2026
• “Services means work, labor or services of any kind when purchased primarily for personal, family or household use and not for commercial or business use” — Nev. Rev. Stat. § 97.135 ("Services" defined), read November 6, 2026
• “is barred from the recovery of any finance charge, official fees, or any charge for delinquency or collection” — Nev. Rev. Stat. § 97.305 (Violation bar to recovery), read November 6, 2026

Does Nevada want it agreed in advance?

Agreed in advance: see the state's words below.

• “When there is no express contract in writing fixing a different rate of interest” — Nev. Rev. Stat. § 99.040(1), read November 6, 2026
• “The parties shall specify in writing the rate upon which they agree, that interest is to be compounded if so agreed, and any other charges or fees to which they have agreed.” — Nev. Rev. Stat. § 99.050, read November 6, 2026

Homeowners and businesses in Nevada

Retail installment sales of services to a consumer (personal, family or household use — including home repairs and improvements) fall under NRS chapter 97, where finance charges and fees are whatever the contract says but a seller who violates the chapter loses them. The prompt-payment owner provisions do not reach an owner-occupied single-family home's owner for qualified services. No consumer-specific cap on the agreed interest rate in NRS 99.050 beyond the service-member limit.

• “Services means work, labor or services of any kind when purchased primarily for personal, family or household use and not for commercial or business use” — Nev. Rev. Stat. § 97.135, read November 6, 2026

Prompt payment on private construction in Nevada

What the text says: Interest at the higher of the agreed rate or the prime rate at Nevada's largest bank (Jan 1 / Jul 1 before signing) + 4%, from when payment is due. The owner–prime provisions (NRS 624.609–624.622) do not apply to a natural person who owns a single-family residence contracting for qualified services on it (construction, remodeling, repair or improvement by a residential contractor on an owner-occupied single-family residence), nor to public works.

• “accrues interest from the time it becomes due at a rate equal to the higher of: 1. The rate agreed upon in the agreement between the parties; or 2. The rate equal to the prime rate at the largest bank in this State, as determined by the Commissioner of Financial Institutions on January 1 or July 1, as the case may be, immediately preceding: (a) The time at which the agreement was signed;” — Nev. Rev. Stat. § 624.630 (Accrual of interest on money due; rate of interest) — NSCB Handbook rev. 8/2024, read November 6, 2026
• “plus 4 percent until the date of payment.” — Nev. Rev. Stat. § 624.630 — NSCB Handbook rev. 8/2024, read November 6, 2026
• “NRS 624.609 to 624.622 , inclusive, do not apply to an agreement between: (a) A prime contractor and a natural person who owns a single-family residence for the performance of qualified services with respect to the residence; or (b) A public body and a prime contractor for the performance of work and labor on a public work.” — Nev. Rev. Stat. § 624.622(4) — NSCB Handbook rev. 8/2024, read November 6, 2026
• “Qualified services means any construction, remodeling, repair or improvement performed by a residential contractor on a single-family residence occupied by the owner of the residence.” — Nev. Rev. Stat. § 624.440 ("Qualified services" defined) — NSCB Handbook rev. 8/2024, read November 6, 2026

Work out a late charge in Nevada

Set your own rate.

What was not checked for Nevada

• The newest entry on Nevada's prime rate list, when checked, was January 1, 2026; no July 1, 2026 figure was seen.
• Nevada's prompt-payment text was read in the State Contractors Board's handbook (revised August 2024), not on the legislature's page.

Check Nevada's own text

Before you charge: read Nev. Rev. Stat. § 99.040(1) and the other Nevada texts quoted on this page, or ask a lawyer. As of November 6, 2026.

This is a plain-words summary of each state's own laws as of November 6, 2026, not legal advice. Rules have exceptions. Check the state's own text, linked on every state's page, or a lawyer before you charge a late fee or interest.

Compare Nevada with every state's answer, or with its neighbours just below.

Next door to Nevada

• Arizona: 10% if none agreed, no general cap found
• California: 10% if none agreed, depends by agreement (two answers)
• Idaho: 12% if none agreed, no general cap found
• Oregon: 9% if none agreed, depends by agreement
• Utah: 10% if none agreed, no general cap found

Official sources for Nevada

• Nev. Rev. Stat. § 99.040(1) — read November 6, 2026
• Nevada Financial Institutions Division, Prime Interest Rate (NRS 99.040(1)) — read November 6, 2026
• Nev. Rev. Stat. § 97.195 (Amount of finance charge and any other fee, expense or charge) — read November 6, 2026
• Nev. Rev. Stat. § 97.135 ("Services" defined) — read November 6, 2026
• Nev. Rev. Stat. § 624.630 (Accrual of interest on money due; rate of interest) — NSCB Handbook rev. 8/2024 — read November 6, 2026

Every state in one file: Excel and CSV downloads

Where our data comes from