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NV High Court Upholds Tax Initiative

CARSON CITY, Nev. (AP) — An initiative to impose a business margin tax in Nevada to raise money for education has been upheld by the Nevada Supreme Court.

In a unanimous opinion issued Thursday, justices rejected arguments that the petition was flawed. It will now go to the 2013 Legislature, and more likely to voters in 2014.

The measure was pushed by the state teachers union and other labor groups. They argued it would raise $800 million a year for education and supporters gathered more than 150,000 signatures to send the proposal to state lawmakers.

But a pro-business organization challenged the measure, arguing a required 200-word description of what it would do was misleading because it doesn’t guarantee more money for education.

Justices, however, said the description need not articulate every possible ramification.

Copyright 2013 The Associated Press.

  • http://finance-bar.com/nevada-supreme-court-upholds-tax-initiative-san-francisco-chronicle/ Nevada Supreme Court upholds tax initiative – San Francisco Chronicle | Finance Bar - Daily Finance News Magazine

    […] CBS Local […]

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