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Nevada companies fight tax initiatives22 February 2008LOS ANGELES, California -- As reported by Reuters: "Plans to ask Nevada voters to raise taxes on casinos have alarmed the Las Vegas gambling industry, which is scrambling to block initiatives and come up with other ways to fund projects from education to new roads in the tax-averse, fast-growing state. "The specter of a tax hike is particularly unsettling given the industry's recent doubling-down on luxury casino resorts. Analysts say about $30 billion in new development is currently under construction on the Las Vegas Strip. "Polls have found that a majority of Nevadans would support petitions like one from the Nevada State Education Association to raise the state's gambling tax by 3 percentage points to 9.75 percent. "...To head off that possibility, casino operators are angling to have the initiatives scrapped on legal grounds. "In addition, the Nevada Resort Association, which represents the state's casinos, has been involved in a number of discussions, including talks with other industries, over the need to raise tax revenue; but there have been no concrete proposals, said association president Bill Bible..." |