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November 15, 2009

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Nevada tax revenues, proposals

AP

Tuesday, Nov. 12, 2002 | 8:24 a.m.

The Gov.'s Task Force on Tax Policy is expected Wednesday to recommend a batch of tax increases for Nevada totaling $333 million next fiscal year and $536 million in fiscal 2004.

Large revenue sources and tax revenue amounts in the current $1.8 billion state budget:

-Sales tax, $675 million.

-Gambling tax of 6.25 percent, $571 million.

-Insurance premium tax, $167 million.

-Business license tax, $79 million.

-Cigarette tax, $42 million.

-Commercial recording fees, $39 million.

Possible new revenues and projected taxes totaling $536 million in 2004:

-Gross business receipts tax of 0.25 percent, $189 million.

-Property tax increase, $96 million.

-Admissions and amusement tax, $65 million.

-Cigarette tax increase, $63 million.

-Business license inflationary tax, $52 million.

-Commercial recording fee increase, $30 million

Sources: Economic Forum projections for fiscal year 2002-03; Gov.'s Task Force on Tax Policy projections for fiscal year 2004-05.

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