Despite the spin from some, Nevada business people care deeply about education in Nevada and routinely donate millions towards K-12 and higher education. Unfortunately, politicians also routinely force “contributions” by raising taxes, including the largest tax hike in Nevada history during the last legislative session. For decades, business owners and employees have paid … [Read more...] about Businesses Needed for Scholarship Program: At No Net Cost to Firms, Donations will Improve the Lives of Students
Modified Business Tax
State Tax system could be Stabilized and Improved with Broader Consumption Tax Calls for “revenue reform” have long emanated from Carson City, where state lawmakers have complained that Nevada’s current tax code is outdated and no longer capable of supporting critical public services. Most often, these calls for “revenue reform” have served as little more than a euphemism for … [Read more...] about What Should “Revenue Reform” Look Like?
Nevada is well known as a corporate tax haven. Many large companies are incorporated in Nevada, particularly those whose headquarters are located in California, Arizona or Utah. There are several reasons for this. One is that Nevada law provides strong protections against holding corporation’s owners responsible for the actions of a corporation. Another reason has to do with … [Read more...] about Welcome to Nevada: Tax Changes Looming
Taxes are on a lot of people’s minds this time of year. Taxes mean grumbling and money out of pockets and coffers, whether an individual’s or a business’. But taxes also mean services, at all levels of government, from federal to local. In the stressed and struggling Nevada economy, as tax season threatens on the horizon, there are inevitable questions. Is Nevada still … [Read more...] about Tax Issues: Beyond the Numbers
Leaders in the Democratic majority during the 2011 state legislative session proposed a dramatic change to Nevada’s tax system: Phase out the Modified Business Tax — a tax on private-sector payroll — and replace it with a new, larger levy modeled after Texas’ business margin tax. The effort gained so little traction in Carson City that the Democratic leadership, embarrassed, … [Read more...] about Texas Margin Tax: Always a Bad Idea: Margin Tax is More Destructive than Alternatives