Take a closer look at mining taxes

Brian Covey, Las Vegas

Sunday, Feb. 6, 2011 | 2:03 a.m.

With the state strapped for cash, one target for increased taxation is the mining industry. Despite all the coverage of this issue, taxpayers and our legislators are missing critical information.

We need a comparison of mining tax rates in other states and countries where corporations are based that currently mine in Nevada. This comparison must be for the actual rate paid, not the rate before all the loopholes and tax breaks.

I am all for mining jobs, but if we are giving away our natural resources to corporations that couldn’t get the same deal back home, if we are being taken for rubes, then possibly an increase in the mining tax would be in order. Looking back in history, very little of the gold and silver from the Comstock Lode, one of the richest ever, stayed in Nevada. Let’s not let negative history repeat itself.

Take a look at international corporations mining in Nevada. Many are Canadian, some are Australian or based in the West Indies.

Our mining taxes should be based on a rate competitive with other major mining areas — any less is doing financial disservice to the citizens of our fine state.