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October 7, 2011 / jimnv

Excellent Article: “Nevada’s tax income from gaming well below other markets”

Another “Excellent Article”, this one called: “Nevada’s tax income from gaming well below other markets” by David McGrath Schwartz, Las Vegas Sun, October 7, 2011

Schwartz  compares what Nevada casinos pay in taxes and what they pay in other jurisdictions. The conclusion: Nevada casinos pay very little in comparison.  For example in Macau,China where Wynn and Adelson have properties  the tax rate is 39 percent while in Nevada it’s just 6.75 percent. All casinos in Macau pay the communist government a billion a month while Nevada get less than a billion a year from all operations.

Nevada casinos, are a  protected industry and get the benefit of  very low taxes and then export their business to other states and countries. In response, we must raise gaming taxes in the next legislative session. Let’s try doubling them over three years. Even if we did that, the gaming tax rate would be less than what the average casino pays outside Nevada.

Casinos and mining are the state’s welfare queens, they pay little in taxes and still whine they pay too much and want more stuff.

Unfortunately, trying to raise casinos taxes will fail right now because  they are protected by a transparently corrupt governor paid for by casinos through their donations and influence.

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Related posts:

Protection Racket for Gaming, July 19, 2010

Ticks on Our Backsides, June 4, 2010

Gaming Must Pay to Regulate Themselves, February 26, 2010

Regulate the Gaming Industry as it Should Be, June 22, 2009

Casino Lay-off List, February 8, 2009

Privatize Some Casino Audits, January 12, 2009

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