Home Business Taxpayers Association announces opposition to proposed taxes

Taxpayers Association announces opposition to proposed taxes

by Nevada State News
Image: Nevada Legislature.

CARSON CITY — The Nevada Taxpayers Association today announced its opposition to increases being proposed to the Gross Gaming Tax and Sales Tax. The increase is being proposed via a ballot initiative, something the organization is opposed to.

From the organization:

A policy blueprint of this size and scope must be thoroughly debated amongst all stakeholders. Therefore, any effort to undertake the modernization of Nevada’s tax structure should be conducted via the standard legislative process, not through a ballot initiative.

An increase of $1 billion in annual sales tax revenue is likely to affect tax neutrality and change consumer behavior. The exporting of the tax burden to non-residents is also of concern given the importance of tourists to our statewide economy.  As with the Sales Tax, an annual increase in the Gross Gaming Tax of $330 million is very likely to cause unpredictable economic consequences. The focus of this tax on one industry is prone to have a harmful effect on gaming companies and their employees.

Taken together, these proposals represent an annual increase of 28% to the $4.5 billion in general fund revenue forecast for the 2020 fiscal year. It is the view of the NTA that a tax increase of this size, without the appropriate performance benchmarks, does not serve the bests interests of our state. 

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