The Thursday accident killed the Maserati's driver, aspiring rapper Kenneth Cherry Jr.; the driver of the taxi, Michael Bolden; and a passenger in the taxi whose name wasn't reported, CNN said.
Police said the incident began with a dispute in a hotel parking lot between Cherry and at least one other person. As Cherry drove away, he was allegedly shot by someone chasing him in black Range Rover.
After Cherry was shot, the Maserati went through a red light at a nearby intersection and crashed into Bolden's taxi, KLAS-TV, Las Vegas, reported.
A passenger in the Maserati and three other people were injured in the accident.
Police are working with Cherry's passenger and surveillance videos from nearby hotels to identify the alleged shooter, CNN reported.
Taxi drivers from Desert Cab, which employed Bolden, met for a memorial Friday. Drivers lined their taxis around the corner of Las Vegas Boulevard and Flamingo Road, leaving their meters running for 15-20 minutes, KLAS reported.
The drivers said they would pay that fare out of their own pockets into a memorial fund being set up for Bolden's family.