Why Nevada’s tax base is more diversified than you think it is

With Gov. Sandoval proposing the largest tax increase in Nevada’s history, including a modified version of the margin tax voters just rejected by a 4-to-1 ratio, you’ll be hearing a lot about how Nevada doesn’t have a diversified tax base.

Liberals love to claim that Nevada’s tax base is a “two-legged stool,” and that’s why Nevada needs a business tax.

That type of rhetoric makes you wonder how many people have actually seen the composition of the taxes funding Nevada’s general fund. There are a lot of legs on that stool.

Does Nevada needed revenue-neutral tax reform, like the plan proposed by NPRI? Absolutely.

But the number and types of taxes funding Nevada’s General Fund are much more diverse than most people realize. Nevada doesn’t need a third leg for its tax stool. It already has a third, fourth, fifth, sixth, seventh and eighth leg.