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Nevada Question 1, Tax Exemption of Financial Property Amendment (1942)
| Nevada Question 1 | |
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| Election date |
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| Topic State legislatures measures and Taxes |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Nevada Question 1 was on the ballot as a legislatively referred constitutional amendment in Nevada on November 3, 1942. It was approved.
A "yes" vote supported exempting certain financial assets from taxation, maintaining mining tax provisions, and prohibiting inheritance or estate taxes. |
A "no" vote opposed exempting certain financial assets from taxation, maintaining mining tax provisions, and prohibiting inheritance or estate taxes. |
Election results
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Nevada Question 1 |
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| Result | Votes | Percentage | ||
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20,066 | 76.62% | ||
| No | 6,122 | 23.38% | ||
Text of measure
Ballot title
The ballot title for Question 1 was as follows:
| “ | Shall Assembly Joint Resolution proposing an amendment to Section 1 of Article X of the Constitution of the State of Nevada, reading as follows: Resolved by the Assembly of the State of Nevada, the Senate concurring, That section 1 of article X of the constitution of the State of Nevada be amended to read as follows: Section 1. The legislature shall provide by law for a uniform and equal rate of assessment and taxation, and shall prescribe such regulations as shall secure a just valuation for taxation of all property, real, personal and possessory, except mines and mining claims, when no patented, the proceeds alone of which shall be assessed and taxed, and when patented, each patented mine shall be assessed at not less than five hundred dollars ($500), except where one hundred dollars ($100) in labor has actually performed on such patented mine during the year, in addition to the tax upon the net proceeds; shares of stock (except shares of stock in banking corporations), bonds, mortgages, notes, bank deposits, book accounts and credits, and securities and choses in action of like character are deemed to represent interest in property already assessed and taxed, either in Nevada or elsewhere, and shall be exempt. No inheritance or estate tax shall ever be levied, and there shall also be excepted such property as may be exempted by law for municipal, educational, literary, scientific, or other charitable purposes. -- be approved? | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Nevada Constitution
A simple majority vote is required during two successive legislative sessions for the Nevada State Legislature to place a constitutional amendment on the ballot. That amounts to a minimum of 22 votes in the Nevada State Assembly and 11 votes in the Nevada State Senate, assuming no vacancies. Amendments do not require the governor's signature to be referred to the ballot.
See also
External links
Footnotes
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State of Nevada Carson City (capital) |
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