Stop the Margin Tax
Stop the Margin Tax from Killing Jobs and Hurting Nevada's Economy.
Initiative Petition (IP) 1, also referred to as the Margin Tax, will be on the November 2014 general election ballot. If passed, it would impose a 2% margin tax on all Nevada business with annual revenues – regardless of profit – of more than $1 million. IP 1 will impose a tax on a business, even if there is no profit.
Here's What You Need to Know:
- The Margin Tax will cost jobs, make it harder for employers to operate and will harm economic recovery.
- The Margin Tax will create a complicated tax code, requiring businesses to spend scarce resources just to figure out how to comply. In Texas, 45 bills had to be introduced to address complications with a similar tax. Problems still persist.
- The Margin Tax would expand government and bureaucracy in order to implement the tax.
- And most importantly, there are no guarantees that money from the Margin Tax will ultimately go to schools or students in the classroom.
This union-sponsored effort is misleading. Union sponsors have admitted in district court that there is no guarantee that the revenue generated from the Margin Tax would actually be used for educational programs that will enhance classroom results.
The Las Vegas Metro Chamber of Commerce believes that the union-backed Margin Tax is not the right solution for Nevada to fix education for our children. In fact, it may hurt children and families more than it helps.
The campaign against IP 1 will require substantial time and resources; that’s why we’re calling on you for support!
Your contribution ensures that this destructive tax on business does not pass next November. Only then can we focus on real solutions to fix Nevada’s education system.