POSTED: 3:25 pm PDT May 20, 2011
CARSON CITY, Nev. -- Amendments to a Democratic tax plan were pending in the Nevada Legislature to clarify how the proposed margin tax would be calculated for the mining and casino industries.Senate Revenue Committee Chairwoman Sheila Leslie said one amendment would exempt winnings by casinos because those are already taxed by the state.Another deals with net proceeds taxes paid by mining companies.Legislative committees have been holding marathon hearings on SB491 and AB569. The Senate bill would replace existing business taxes with a system based on gross revenue. The other would impose a transaction tax on services.Both bills face a questionable future because Democrats lack the votes needed to pass tax increases and override an expected veto by Gov. Brian Sandoval.Copyright 2011 by The Associated Press. All rights reserved.
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Source: http://www.fox5vegas.com/news/27971162/detail.html
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