Vol. 3, No. 2, February 2006
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Nevada Faces Tax Increase
Nevada political activist Tony Dane, who recently announced his plans to push an initiative petition to raise taxes on major casinos to 18 percent, said he might change his proposal to call for an increase to about ten percent.
Dane originally announced the plan as a way to generate additional revenue that would go to reduce property taxes for single-family homeowners. He said the increase in taxes on the state's largest casinos—from 6.75 percent to 18.25 percent—would raise $800 million.
After a meeting with Steve Wynn, however, Dane said he would consider reducing the tax increase. He said his intent is not to raise taxes to a point that casinos would be put out of business, but noted that even with a lower proposed tax increase, Wynn will not support the idea.
Dane needs to collect more than 83,000 signatures by November 14 to bring the measure before the 2007 legislature. If his initiative fails in the legislature, it will go before voters in 2008.
Nevada Resort Association President Bill Bible said the tax hike would stop the casino industry from reinvesting in the state and would limit the creation of new jobs.
