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Wednesday, Feb. 6, 2013 | 2:01 a.m.
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The state Supreme Court’s decision last week about the margins-tax initiative recognizes that the limited wording of an initiative does not allow a complete statement of all aspects of the proposed tax. It did not address the regressive nature of this tax. All business taxes are passed along to the consumer as a cost of doing business. But unlike sales tax, this will increase the costs of all goods and services, prescription medications and even the cost of visits to the hospital, which may be running at a loss.
A less regressive way to raise money for schools would be to raise the sales tax, but this would be harder to sell to the voters than having them think that business would just pay these taxes. The tax initiative, pushed by the Nevada State Education Association, assumes that voters will sign up for anything that relates to schools.
The Legislature should vote no on this tax and allow the voters to decide in an election. I am sure it will be defeated once all the facts are known.
"All business taxes are passed along to the consumer as a cost of doing business."
No surprise
Taxes no matter what form are paid by the people eventually
The margins tax will not pass the Nevada legislature and will be voted down by Navadans on the ballot.
CarmineD
"I am sure it will be defeated once all the facts are known."
Wanna bet?
"Wanna bet?" @ Jim Weber
Ask Governor Sandoval. I'm sure he will.
CarmineD
The margin tax kicks in when a business has one million in revenue. The tax on that amount would be 20,000.
To reach a million in revenue, a business needs to average $2750 per DAY in sales. The tax on that would be $55. If that amount of tax would cause a business to fail, how survivable is it to begin with.
NO BUSINESS in Nevada pays a tax on profits earned in Nevada. If you want a list of those business, I suggest that you look in the Yellow Pages.
I'd like to see this go to the ballot. Even more, I'd like to see SJR15 passed by this session and also be on the ballot.
It strikes me as being wrong to impose this tax on normal businesses while mining gets what is effectively a free pass.