It is well known that any debate in the Nevada Legislature over raising mining taxes has been a controversial topic since prospectors first struck gold in the 19th century. Previous efforts to raise the tax or reduce the ability of companies to deduct net proceeds have come up short. Opponents have argued successfully that any increase in the tax rate would severely … [Read more...] about Mining for Taxes
Nevada taxes
The ‘End of the World’ Comes with a Bump in Pay
One wouldn’t know it listening to many media loudmouths, but the recently passed GOP tax reform bill is producing results that should earn the applause of “progressives.” Unfortunately, as is now par for the course, political tribalism — not legitimate policy concerns — has encouraged the political left to protest a tax plan that’s poised to benefit every income bracket and … [Read more...] about The ‘End of the World’ Comes with a Bump in Pay
A Key Definition in the Margin-Tax Scheme Would Have Catastrophic Impact
Much ado has been made, and will continue to be made, about what is the most important question on Nevada’s 2014 ballot. But one critical aspect of the state teacher union’s proposal to enact a business margin tax has gone virtually unnoticed: the definition of an “affiliated group.” For the non-accountant, this might sound like a tedious and technical detail, but it could … [Read more...] about A Key Definition in the Margin-Tax Scheme Would Have Catastrophic Impact
May 2014: Around the State
Coalition Releases Job Impact Memo on Margin Tax Initiative The Coalition to Defeat the Margin Tax Initiative (CDMTI) has completed an analysis of the potential employment impacts of Question 3, the Margin Tax Initiative, which will appear on November’s ballot. According to their research, the tax burden for businesses would increase by approximately $700 million. That … [Read more...] about May 2014: Around the State
Margins Tax Initiative: A Look at the Details
Running a business is no small feat in today’s economic environment. The negative impact of declining tax revenues from America’s businesses and citizens has been felt in local communities. These falling revenues are resulting in unprecedented steps being taken by municipality after municipality across the country. Closer to home, the example of North Las Vegas’ efforts to deal … [Read more...] about Margins Tax Initiative: A Look at the Details
Profit and Loss Statements: Sounds Simple. Is It?
Profit and loss statements are a great tool to monitor the profitability and health of a company. At first glance they seem fairly simple; however, there are some important things to remember when working with these statements. There is real life, and there are taxes. They look alike but one is an orange and the other is a tangerine. The profit and loss statement typically … [Read more...] about Profit and Loss Statements: Sounds Simple. Is It?
Taxpayers Lose Big: Lawmakers Impose New Burdens
Three years ago, both Brian Sandoval and Rory Reid ran for governor on a “no new taxes” platform. Last year, voters in five Nevada counties rejected six efforts to raise taxes — even though Barack Obama was at the top of the ticket, driving liberal voter turnout. Given the clear will of the voters throughout the state, you’d expect that the governor and legislators would … [Read more...] about Taxpayers Lose Big: Lawmakers Impose New Burdens
How We Stack Up: Ranking Nevada
The Nevada economy is showing more positive signs in 2013 than it did last year, especially in critical indicators like unemployment and housing. While many Nevadans still fear that the light at the end of the tunnel may be an oncoming train, there are hopeful signs that travel and tourism are gradually rebounding, more Nevadans are finding work, and fewer homes are being … [Read more...] about How We Stack Up: Ranking Nevada
Getting It Done: The 2013 Legislative Session
The 77th regular legislative session starts in Carson City on February 4, 2013. What major issues will be coming down the pipeline in 2013? How will issues discussed and laws passed in the upcoming session affect Nevada in the future? What part will a freshman Legislature play and what challenges will lawmakers face? The Budget One of the biggest issues facing every … [Read more...] about Getting It Done: The 2013 Legislative Session