Nevada tax initiative to be filed Wednesday
CARSON CITY, Nev. (AP) -- Supporters of a union-backed Nevada business tax initiative plan to file their petition Wednesday at the secretary of state's office.
The measure seeks to impose a 2 percent margins tax on businesses with profits of more than $1 million annually. Money raised would be earmarked for K-12 education.
AFL-CIO secretary-treasurer Danny Thompson has been spearheading the proposal, and the Nevada State Education Association recently agreed to co-sponsor it.
Supporters will have until Nov. 13 to collect 72,352 signatures and send the issue to the 2013 Legislature. Lawmakers would then have 40 days to approve the proposal. If they reject it or fail to act, it would automatically go to voters in 2014.
The tax proposal is modeled after a measure floated by Democrats during last year's session.