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Suit Filed to Combat Nevada Gambling Tax

3 March 2012 by Devon Chappell

As the 2012 presidential election gears up, the ongoing battle between democrats and republicans over how best to tax successful corporations rages on.  Republicans contend that lower tax rates encourage businesses to invest more of their profits back into the economy.  Democrats argue that taxing extremely successful companies at a slightly higher rate would not lead to less economic growth, but simply allow the government to avoid turning to austerity measures in order to deal with our ever-growing deficit.

This philosophical debate will most likely continue to be fought all throughout this year’s presidential election – and probably far beyond that until either the cows come home or the fat lady sings.  But in Nevada, a battle over a possible tax hike is taking place right now, that some argue will have a potentially huge outcome for the state.

Last month, an initiative was filed that seeks to raise taxes on Nevada casinos that take in gambling revenue exceeding $250K per month.  Monte Miller, a Las Vegas businessman working in conjunction with an organization called Nevadans For A Fair 9 Percent Gambling Revenue Tax, filed it.

On Wednesday, the Nevada Resort Association filed suit in a Carson City District Court in an effort to stop Miller’s initiative in its tracks.  The association represents many big-time casino owners who stand to lose great sums of money if their casinos’ revenue is taxed at a higher rate.

The previous rate of 6.75 percent would be raised to 9 percent if Miller’s initiative ultimately passes and goes into effect.  One of Millers representatives explained how the suit filed this week came as little or no surprise to them considering the financial interests involved.

If Judge James Todd Russell agrees with the Nevada Resort Association’s claims that the initiative petition is misleading, he could insist that supporters stop collecting signatures at once.  This would effectively put an end to the initiative’s supporters’ hope of having their petition considered by the state’s legislators next year.

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