By Sean Whaley | Nevada News Bureau

CARSON CITY – The Nevada Taxpayers Association has identified several concerns with an initiative petition to impose a margin tax on Nevada businesses filed by the state teachers union, including the title.

The Nevada Taxpayers Association has identified several concerns with an initiative petition to impose a margin tax on Nevada businesses filed by the state teachers union, including the title.

The “Education Initiative” outlining how the 2-percent tax on companies making more than $1 million in gross revenues should more properly be called the “Margin Tax Initiative”, the association said Monday in an email. The $800 million a year in revenue estimated to be raised from the proposed tax is not directed specifically to public education, the NTA said.

The money would go to the state general fund instead.

But that is just the beginning of the litany of concerns identified by the NTA.

“Proponents claim the $1 million exemption protects small businesses,” the NTA said in its assessment of the proposal. “Not true. The calculation of total revenue pursuant to the provisions of the initiative will put the income of many small businesses over $1 million. Those small businesses will include many franchise operators with a single location, most independently owned gas stations, many medical clinics, ranches and farms and a host of other businesses. In reality it is only the tiny business that will not be captured.”

Read the full story at the Nevada News Bureau.

Editorial Staff

More Posts

RELATED ARTICLES

1. Government Employee Salaries Data Reveals Thousands Make More Than Governor
2. Charlotte’s Loss May Mean Another Las Vegas NASCAR Race
3. Nevada Again Trying to Take Control of Its Federal Public Lands
4. Newest Tax Idea: Hike In “Job-Killing” Modified Business Tax
5. Nobody Can See the Real Solution to ‘Sharing’ Colorado River Water

COMMENTS