A proposed 2 percent margins tax on Nevada businesses could result in the loss of 3,610 private sector jobs in 2015, according to a new study released Tuesday and commissioned by a conservative think tank that opposes such a levy. At the same time, the tax would raise $862.5 million in its first year for the state and lead to adding 1,970 public employees, the study found, for a net job loss of 1,640. The study also said that imposing a margins tax would reduce Nevadans’ disposable income by $240 million a year and decrease investment in the state by $7.1 million annually due to the ripple effects of levying a new business tax. “The proposed margin tax would diminish economic activity and place Nevada’s above-average long-term competitiveness at risk,” the study concluded.
Posted on: Wed, 23 Jul 2014 17:04:59 +0000
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