Nevadans can expect tax hikes July 1
By Sandra Chereb, Las Vegas Review-Journal
CARSON CITY — A few pennies here, a couple of dollars — or millions — there.
From higher cigarette taxes, entertainment levies and the state’s first gross receipts tax on commerce, Nevada businesses and residents will pay more under tax measures approved by the 2015 Legislature to fund Gov. Brian Sandoval’s $7.3 billion general fund budget.
It’s too early to say how far Nevada consumers will have to dig into their pockets. But it’s a safe bet things will cost more under the levies, most of which take effect July 1.
“There are too many factors to be able to predict with any certainty how much the impact is going to be,” said Bryan Wachter of the Retail Association of Nevada, a trade group that opposed Sandoval’s gross receipts tax.
He said a lot will depend on an individual’s lifestyle and buying habits but added, “Certainly through consumer goods and utility providers, there will be an increase.”
The biggest component of the tax package — and a first in state history — is Sandoval’s gross receipts tax on business revenue. The second-term Republican won a hard-fought battle to get his plan through a tax-averse Assembly, a move Sandoval said will provide the state a more stable revenue stream with enough elasticity to expand as the state’s economy and needs grow.
