Nevada Mining Sues to Block Tax Cap Initiative

By: Associated Press Email
By: Associated Press Email

CARSON CITY, Nev. (AP) - The Nevada Mining Association has filed a lawsuit to block a proposed constitutional amendment to raise the tax cap on net proceeds of minerals.

The suit filed in state court in Carson City argues the initiative is misleading and fails to adequately describe the consequences to Nevada's overall tax structure should it win ultimate approval by voters.

Conservative businessman Monte Miller filed the initiative and would need to gather more than 72,000 signatures to qualify for ballot. Voters would have to approve it in November and again in 2014 to take effect.

It would increase the tax cap mining companies pay on minerals to 9 percent from 5 percent of net proceeds. The tax is calculated after costs for extraction and other business expenses are deducted.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 140218833 -
Gray Television, Inc.