November 22, 2014
CARSON CITY, Nev. (AP) - A long-awaited bill revamping Nevada's live entertainment tax has been introduced by Assembly Speaker Marilyn Kirkpatrick.
AB498 seeks to close loopholes in the current law and expand it to other activities that Kirkpatrick says have been granted exemptions over the years.
It sets an 8 percent tax rate and applies to myriad activities currently exempt - green fees, movies tickets, gym memberships. Kirkpatrick estimates it could generate about $50 million.
The live entertainment tax currently is two-tiered rate. Large venues pay 10 percent, smaller ones 5 percent.
Kirkpatrick says 38 states have an admissions tax. She modeled her bill after a similar law in Florida, which like Nevada relies heavily on a tourism economy. It also has no personal income tax.
The Assembly Taxation Committee will hear the bill Tuesday.
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