Ballot Question No. 3: The Education Initiative - Margin Tax on Business to Fund Public Schools
Shall the Nevada Revised Statutes be amended to create a 2% tax to be imposed on a margin of the gross revenue of entities doing business in Nevada whose total revenue for any taxable year exceeds $1 million, with the proceeds of the tax going to the State Distributive School Account to be apportioned among Nevada’s school districts and charter schools?
___Yes
___No
This ballot measure proposes to impose a two-percent (2%) margin tax on business entities in Nevada with total revenue in excess of $1,000,000, and it requires that the proceeds of the tax be used to fund the operation of the public schools in this State for kindergarten through grade 12. If this ballot measure is approved by the voters in the 2014 General Election, the applicable margins tax would take effect January 1, 2015.