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November 14, 2009

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Business tax may by postponed until 2002

Thursday, Sept. 28, 2000 | 5:33 a.m.

If he's right, the 4 percent tax would go to a statewide vote in 2002.

"I don't expect it to pass (in the Legislature), which means for the next two years you're going to get a full dose of what both sides want," Amodei, R-Carson City, said Wednesday at a Chamber of Commerce luncheon.

"I agree with the senator," said Larry Osborne, the chamber's executive vice president. "The legislators will say, 'You want this much money, let the voters decide.' We will have until 2002 to let the voters know what this is. It's an income tax that doesn't guarantee results."

Sought by the Nevada State Education Association, the tax is supposed to raise at least $250 million a year in new revenue for more teachers, pay hikes and various educational goals, such as improving the quality of teaching, parental involvement, student accountability and student achievement.

The initiative calls for a 4 percent tax on business income profits in excess of $50,000.

The teachers' union says the proposal won't hurt small companies or drive industry from Nevada. Association officials say they believe more than half of the businesses that will be affected are out-of-state companies that have offices in Nevada but take the profits elsewhere.

However, opponents call it a hidden income tax that will affect almost all Nevadans.

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