Observers: Proposed tax might sweeten education spending but leave state with fewer jobs
Passage of a new business margins tax in November might bring the state more money for education but it would leave graduates with fewer job opportunities, panelists at a Las Vegas Metro Chamber of Commerce luncheon said Wednesday.
A panel of four industry professionals talked about the tax at the Four Seasons. Their conclusions? A levy on gross revenue would confuse businesses and government agencies alike. It would also boost hiring by about a third at the state Department of Taxation, even as it encouraged the private sector to change how it hires to avoid it.
“It’s a flawed tax, and it will have a chilling effect on business,” moderator and Nevada Taxpayers Association President Carole Vilardo told 250 attendees.
The Nevada State Education Association is behind the proposal, which it’s calling the “Education Initiative.” The law would raise up to $750 million for K-12 schooling. The question’s proponents say it’s time for businesses to pay more to support education. And they argue the state’s underfunded schools scare away businesses as much as — or more than — any tax.
The business-oriented chamber panel saw things differently.
The chamber held the luncheon to explain to members how the tax will work and how it will affect businesses — and to rally opposition.
Las Vegas Review-Journal