“An act … repealing the Commerce Tax…”
This is one of the most important bills in this session, if not THE most important. The people voted down the margin tax ballot initiative by an 80-20 margin in 2014. So how did the arrogant imperial government respond to the will of the people? They RENAMED it to “commerce tax” and shoved it down our throats in the Legislature in 2015. A legislature with a REPUBLICAN majority. And a REPUBLICAN governor. This bill is the one chance to repeal it, before the damage it inflicts on Nevada’s business, industry and jobs takes full effect.
Let’s admit one simple truth in economics: NO business ever pays any taxes. All taxes are paid by the end customer, as all costs of doing business are necessarily included in the price that a business charges its customers. Otherwise the business uses up its reserves and goes bankrupt. So even if the supporters of the commerce tax make the argument that with all our exports (such as mining) or tourist-oriented businesses (such as gaming) NO Nevadan is hit with this commerce tax, the simple fact is that WE too end up paying it when WE buy goods made from our raw materials or when WE go to the casinos.
Yes! This is the will of the people of Nevada! We voted in November, 2014 with an overwhelming majority of 78+% to defeat the Margin Tax, a punitive gross receipts tax. And much to our appalling astonishment, the Governor and the 2015 Legislature renamed it a Commerce Tax and shoved through a similar gross receipts tax – deliberately defying the will of the taxpayers who elected the Governor and the Legislature and who pay their salaries. Never in Nevada’s history has there been such a defiance of the public will by those who serve at the behest of the public.
This Commerce Tax is a most business-unfriendly stain on Nevada. I personally know several small business owners who were considering NV on their short list of business-friendly states to relocate to and immediately took NV entirely out of the running once this albatross passed. Small businesses are what make our state economy roll, not the giant manufacturing plants like Tesla and Farraday, which, by the way, aren’t doing too well. Let’s bury this Commerce Tax and welcome small business back to our state.
AB263 would repeal the Commerce Tax.
Thank you Assemblyman Hansen for having the back bone to submit this bill.