Las Vegas, Nev. – A new economic analysis of the “Margin Tax” proposed by Ballot Question 3 was released this week by the Coalition to Defeat the Margin Tax Initiative. Question 3, also known as the Margin Tax Initiative, will appear on Nevada’s statewide ballot in November. Unlike previous studies, […]Read More
If Nevada were really trying to catch up to other states, if it were really serious about creating an environment for future prosperity and opportunity, then Question 3 on November’s ballot would seek to cut taxes, not raise them.Read More
Between now and the November 4th general election, Nevadans will hear a lot of information from proponents and opponents of the Margin Tax Initiative (otherwise known as Question 3 or the Education Initiative). As an organization whose main objectives include advocating for Hispanics and small businesses and promoting economic growth and development in the Hispanic community, the Latin Chamber of Commerce’s Board of Directors believes it is important to help the Latino community to understand the current tax proposal.Read More
The Nevada Society of Certified Public Accountants (“NVCPA”) opposes Ballot Question Number 3:The Education Initiative, also known as the “Margin Tax,” which will be on the November 2014 statewide ballot in Nevada.Read More
Two issues are central to Nevada’s margins tax debate. Thus far, justifiably, conversations and research have focused almost exclusively on one: how the levy would affect the state’s businesses. Which industries would be hit hardest by the 2 percent tax on revenue? How many jobs would be lost if Question 3 passes in November?Read More
The Nevada federation of the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) passed a resolution opposing the Margin Tax Initiative during its COPE conference at the Circus Circus Hotel Casino in Reno Friday. This vote from the working men and women of Nevada is further proof that the Margin Tax Initiative, otherwise known as Question 3, would kill jobs and damage Nevada’s fragile economy.Read More
The Northeastern Nevada Regional Development Authority (NNRDA) has publically joined with the Coalition to Defeat the Margin Tax Initiative to educate Nevadans about the damaging impacts of the proposed Margin Tax and to encourage voters to vote NO in November.Read More
A new analysis of the potential employment impacts of Question 3, the Margin Tax Initiative, on the November statewide ballot determined that the roughly $700 million increase in the tax burden the measure would impose on Nevada employers would cause the loss of nearly 9,000 private sector jobs and cost Nevadans hundreds of millions in lost wages and income.Read More
Silver State small-business owners are almost unanimous in their opposition to a November ballot measure calling for a new margin tax, according to the results released today by their leading representative group.
The National Federation of Independent Business, America’s Voice of Small Business, asked its nearly 2,000 Nevada members two questions last week, and after a greater than usual response, it was acidly clear where their opinions stood.Read More
While Economic Development Authority of Western Nevada is very selective in engaging in political issues and initiatives, after a thorough investigation into the Margins tax — The Education Initiative, the EDAWN board concluded that this initiative will have an adverse impact on EDAWN’s ability to effectively accomplish its primary mission: quality job attraction, retention and entrepreneurial job creation.Read More
The battle for votes over Question 3 on this November’s statewide ballot — known as The Education Initiative by its proponents, but as the Margin Tax Initiative by its opponents — is escalating.Read More
A study by Applied Analysis, a Las Vegas based economic research firm, shows that if the proposed margin tax ballot measure is passed this November, Nevada consumers could face $60 million each year in higher insurance costs for their automobiles, homes, life and health.Read More
For Immediate Release February 27, 2014 Reno, Nev. - The Economic Development Authority of Western Nevada (EDAWN) Board has voted to take an active role in the opposition of the Margins Tax / The Education Initiative. The Board takes this position after receiving testimony from both sides of Margins Tax / […]Read More
A new fiscal and economic impact analysis of Question 3 (the Margin Tax Initiative) by leading Nevada economic researcher Jeremy Aguero has concluded that the measure’s proposed tax on the gross revenues would significantly increase the tax burden on employers in Nevada and damage Nevada’s economic competitiveness by making Nevada one of the highest taxed states in the country for businesses.Read More
The margins tax was a terrible idea from the moment the state teachers union put it on paper and began collecting signatures to qualify it for the 2014 ballot. But we now know the initiative is even worse than previously thought: In addition to killing jobs, the plan, if passed, creates a huge disincentive for small business growth.Read More
The Education Initiative, better known as the Gross Margin Tax proposal, will be on the 2014 ballot for voter consideration. Supported passionately by those who believe Nevada’s public school system requires higher funding, the tax would raise an estimated $800 million a year dedicated to that purpose. The business community vigorously opposes the proposed tax.Read More
Nevada voters will be asked to decide in November whether they support the margin tax initiative, a gross revenue tax on businesses that, if passed, would leave the Silver State with one of the worst business tax burdens in the country.Read More
Sandwich shop owner Tim Wulf has been foretelling doom in Nevada should voters approve a 2 percent business margins tax at the polls this November.
He has been telling the media that his two Jimmy Johns franchises in Reno would get hammered with a $30,000 tax bill should voters pass the tax. It’s being peddled by the Nevada teachers union as a way to help the state’s ailing education system.Read More
The proposed margin tax will bring in between $650 million and $750 million a year, bringing business revenue in the state to more than $1 billion annually.
Those are the findings of numbers maven Jeremy Aguero, who is preparing a report for the coalition opposing “The Education Initiative.” The actual gross revenue from the margin tax is about $1 billion, according to Aguero’s calculations, with the net estimate arrived at from credits to businesses paying the payroll tax. But they still pay that so-called Modified Business Tax, which puts the total business revenue number in 10 figures.Read More
Gov. Brian Sandoval brought his optimistic message of Nevada’s economic progress to the Directions 2014 event hosted by the chamber of commerce here on Thursday, but he also sounded a note of caution about the proposed margins tax on the November ballot.Read More
“[The Margins Tax] is the biggest threat to our economic recovery you can possibly imagine. It’s the biggest threat to business in Nevada in my lifetime.”
That was one of the messages delivered by Nevada Sen. Mark Hutchison – who is campaigning for a spot on the November ballot as the Republican party’s candidate for the office of lieutenant governor of Nevada – during his recent presentation before members of the Laughlin Economic Development Corporation.Read More
As a Nevada business owner or executive, you’re probably hoping that 2014 will be the year our state finally climbs out of the depths of the recession, but the so-called “Education Initiative,” which will come before the voters on the November 2014 ballot, could spell the end of any hopes for economic recovery. It has the potential to kill business in our state.Read More
Money is fungible.
This fact appears to have escaped the backers of a margins tax on businesses that is supposed to raise money for K-12 education. The measure is on the November 2014 ballot.
The Nevada State Education Association teachers’ union estimates the tax would raise $800 million a year, a contention business leaders seriously doubt. But furthermore, the ballot initiative contains no language that would prevent the Legislature from simply taking tax money that currently goes to education and spending it elsewhere — the very definition of fungible.Read More
Though the November 2014 mid-term election is still a year away, business leaders are starting a drumbeat of opposition to a tax initiative on the ballot.
Voters will be asked whether to impose a 2 percent margins tax on Nevada businesses that have gross revenues in excess of $1 million, a proposal put forward by the Nevada State Education Association as a means of funding K-12 education.Read More
The November 2014 mid-term election is still a year away, but the campaigning over a key ballot question should be starting in earnest soon.
The Nevada State Education Association managed to gather enough signatures and survive enough court challenges to have its Nevada Education Initiative go before the voters. The initiative proposes a 2 percent margins tax on all Nevada businesses that gross more than $1 million a year.Read More
Still suffering from election fatigue? Too bad. The biggest race of Campaign 2014 is under way in Nevada, less than eight months after last year’s scorched-earth ballot.Read More
Creating funds for education could have some devastating consequences if the proposed business margin tax takes effect. The tax would affect businesses that make more than a million dollars a year, and the owners of a local family-run dairy say it could be the end of a company they’ve run for generations.Read More