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NV LEGISLATURE 2013 Geoffrey Lawrence Nevada Policy Research Institute

Apr 01, 2015

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NV LEGISLATURE 2013 Geoffrey Lawrence Nevada Policy Research Institute Slide 2 Outline Margin tax How does it work? Major pitfalls How does it apply real estate? Where does it go from here? Mining tax alternative Property tax bills State of education Slide 3 Margin tax: How does it work? Margin defined as: 1) 70 percent of revenues 2) Revenues minus labor compensation (No more than $300,000 per employee) 3) Revenues minus cost of goods sold Tax liability = 2% of margin Can be thought of as a modified gross receipts tax Slide 4 Margin tax: How does it work? Does not apply to: 1) Firms with

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