Difference between revisions of "Nevada Mining Tax Measure (2010)"

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Revision as of 12:57, 26 February 2010

Nevada Constitution
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The Nevada Mining Tax Measure may appear on the November 2, 2010 state ballot in Nevada as an initiated constitutional amendment. The measure proposes remove the statutory deductions allowed to mining companies by current state law. The measure is supported by an advocacy group called Progressive Leadership Alliance of Nevada (PLAN).[1]

Mining companies, according to reports, pay a higher property tax rate on the minerals they extract from the state, however, they are also allowed deductions for mining costs. Those deduction, initiative supporters argue, can severely reduce tax revenue to the state.[2] Bob Fulkerson, PLAN executive director, said, "We have an enormous need in our budget. One industry is recording all-time profits, and that’s the mining industry. Yet it’s paying next to nothing to the general fund."[3]

Path to the ballot

In order to qualify the measure for the November 2010 ballot supporters are required to collect a minimum of 97,002 valid signatures.

See also

External links

References