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 Taxes

I will “Tax Less and Do More.”

My overall goal will be to reduce our budgetary reliance on the variety and amount of taxes paid by Nevada residents. 

We will reduce our reliance on regressive taxes, fines, fees, and assessments, which are inherently unpredictable and should not be used to balance Nevada's State budget.

The proposed 2023-2025 Biennial budget is expected to maintain previous services levels. Working within the confines and constraints of that budget, my administration will modify our approach to better serve Nevadans.

By using smarter technology and increasing workforce morale we can get more done than the current Governor anticipates.

My administration will engineer Comprehensive Tax Reforms to stimulate Nevada's economy and foster full employment.

    This will be accomplished through Public Initiatives, Private Initiatives and Cost Saving Initiatives.

    We will engineer modest spending cuts and broaden the tax base to marginally reduce our tax rate. Those spending cuts will result from my administration unbundling contracts (making contracts smaller) to enable more Nevada based businesses to bid on them, thus driving the amount of winning bids down.

    Major companies operating within Nevada's major industries regularly utilize the goods and services of suppliers, particularly outside businesses.

    Those businesses fall into four category pillars.

    They are either (1) Producers - engaged in Farming, Fishing, Mining or Manufacturing;  (2) Distributors - who are either Information Reporters, Domestic Transporters, Importers, or Exporters; (3) Vendors - engaged in Wholesale, Retail, or Real Estate Sales; or (4) Lenders of Finance, Services, or Property. 

    Our emerging businesses operate within all of those pillars. 

    My Made in Nevada / Nevada Business First Public-Private initiative, would reward major Nevada businesses which engage the services of, or buy from our emerging businesses. 

    This would enable our medium sized producers, distributors, vendors, and lenders to grow their operations and increasingly compete in the national and global marketplace. When those emerging Nevada businesses create jobs, Nevada workers will have money to spend, and when they do spend that money the State of Nevada will realize increased tax revenues.

    To mitigate the impact of tangible personal property (TPP) taxes on the value of certain business inventory for emerging Nevada businesses, we will offer: an income tax credit to offset inventory taxes paid; No Inventory taxes until a qualified emerging business makes a profit; a gradual shift from inventory taxes, which favor one product or industry over another, toward revenue sources with broader, more neutral bases.

    Broader, more neutral bases include expansion of the amount of economic activity subject to tax, in this case, by eliminating exemptions, exclusions, deductions, credits, and other preferences currently afforded non-Nevada businesses.

    Land used for the development of Tiny Homes Communities will qualify as “open-space land” for property tax purposes, if that open space land is adjacent to a business that employs a minimum of 100 workers. If The qualified “open space land” is used for multiple purposes, the primary, most important, use must be Tiny Homes for mixed-income Nevada residents.

    Ordinarily, all taxable property is appraised at its market value. Land used to develop Tiny Homes Communities will qualify as “open-space land” for property tax purposes, if that open space land is adjacent to a business that employs a minimum of 100 workers. If The qualified “open space land” is used for multiple purposes, the primary, most important, use must be Tiny Houses for mixed-income Nevada residents.

    Ordinarily, the Nevada Rollback Tax is collected when properties change from agricultural to commercial or residential use. The amount of that tax is based on the difference between the tax paid and the tax that would have been paid if an agricultural use exemption had not been granted. Property that changes fro agricultural to residential, for the development of Tiny Homes, will not be subject to any Rollback. 

    A taxpayer whose Tiny home qualifies as manufactured will not have the option of installment payments. Instead, they will be required to pay their taxes in full on schedule.

    We will provide a State of Nevada Motor fuel tax credit to operators of Fleet vehicles - passenger cars, buses and passenger vans - used exclusively to transport qualified Tiny Home residents to and from Nevada factories.

    To achieve early access to tax revenue, we will offer corporations and high value tax payers a Ten Percent (10%) reduction, on their current tax obligation due and owing, if they, in fact, pay their tax obligation at least 260 days earlier than the actual due date. This will enable the state to significantly increase its rainy day fund. Having cash on hand will result in an increase in the State’s Bond Rating. Thus, it will cost Nevada less to borrow money to fund our expenditures. 

    Overall, this “early access to tax revenue” cost saving initiative will speed up Nevada’s transition from the current “Debt To Fund Services” revenue and expenditure system to the more desirable “Pay As You Go'' revenue and expenditure system. 

    Local governments receive the majority of revenue from Inventory taxes, which are a type of property tax. We will engineer a gradual shift away from inventory taxes toward revenue sources with broader, more neutral bases. 

    No qualified emerging business will be required to pay an Inventory tax until it makes a profit. Plus, we will offer an income tax credit to offset inventory taxes paid. 

    Motor fuel tax credit

    The price of all motor fuel sold in Nevada also includes Federal motor fuel excise taxes, which are collected from the manufacturer by the IRS and are used to support the Federal Highway Administration.

    The State of Nevada taxes gasoline, gasohol, jet fuel, and aviation fuel.

    In a cost saving measure as Governor, I will offer state employees the option of a ten hour a day, four day a week, forty hour work week. This would reduce daily start-up costs as well as reduce personal and public energy consumption.

    The governor’s proposals submitted to the legislature post pandemic include, but are not limited to:

    • Over $500 million in reductions to agency budgets;
    • Reductions in one-time appropriations;
    • Reversions from the IFC restricted contingency funds;
    • Transfers from other funds to the State’s general fund;
    • Furlough days for state employees in the fiscal year, and holding open more than 690 state employee vacancies;
    • A tax amnesty program;
    • Acceleration of net proceeds of minerals.

    Under my administration, the public will receive a greater level of service than anticipated, while we will expend less.