Governing Nevada Data and Resources
Legislative Counsel Bureau Fiscal Division Resources
The Fiscal Division of the Nevada Legislative Counsel Bureau publishes three reports every odd numbered year, the Fiscal Report based on information in the Governor’s Executive Budget, the Appropriation Report based on actions taken by the Nevada Legislature, and the Revenue Reference Manual, which provides details on each major state and local revenue source.
Nevada Department of Taxation Resources
The Nevada Department of Taxation provides publications with tax rates, revenue estimates, and actual revenue received. Information includes the property tax, sales tax, the consolidated tax, and the net proceeds of minerals tax.
Annual Nevada Gaming Abstracts
The Nevada Gaming Control Board publishes an annual financial analysis of nonrestricted gaming licensees producing $1 million or more in gaming revenue (July-June). This report is available in mid-February for the prior fiscal year.
Nevada 2013-2014 Tax Expenditure Report
The Nevada Department of Taxation has released a report documenting the cost of tax expenditures, which include tax abatements, tax credits, tax deductions, tax deferrals, tax exemptions, tax exclusions, tax subtractions, and preferential tax rates. There were $2.3 billion in tax expenditures in fiscal year 2013 and $1.5 billion in fiscal year 2014. The tax with the largest amount of tax expenditures is the sales tax, followed by the property tax and the net proceeds of minerals tax.
The 13 Million Percent Tax: Nevada Considers Complex, Arbitrary BLF Proposal
The Tax Foundation reviews Governor Sandoval’s proposal to convert the existing flat $200 Business License Fee into a tiered system of 67 revenue ranges for each of 27 industry categories. It concludes that: the estimated revenue may be overstated; the proposal creates a complex tax structure that violates the principles of simplicity and neutrality; the rates do not correlate to profitability; it creates revenue cliffs that result in high marginal tax rates; and industry categories were arbitrarily selected and will result in tax arbitrage and economic distortions.
Nevada: Simplifying Nevada’s Taxes: A Framework for the Future
The Tax Foundation conducted a comprehensive review of Nevada’s tax structure and recommends four different options. The report recommends that: 1) Nevada should fix what is broken with the current tax system instead of pursuing a brand new tax to layer on top of the narrowly based, complex existing taxes; 2) tax changes should address state revenue volatility, be fair, and reduce carve-outs that plague the system; and 3) the tax system should retain elements that ensure Nevada economic and tax competitiveness.
Who Pays: A 50 State Report by the Institute on Taxation and Economic Policy
The Institute on Taxation and Economic Policy assesses the fairness of state and local tax systems by measuring the state and local taxes that will be paid in 2015 by different income groups as a share of their incomes. Nevada ranks as the 13th most regressive state because of its heavy reliance on sales taxes.
Improving State Revenue Forecasting: Best Practices for a More Trusted and Reliable Revenue Estimate
CBPP has identified five best practices for revenue forecasting: (1) implementing a consensus forecasting process; (2) including non-governmental experts in the forecasting process; (3) providing forecast and assumptions online; (4) developing forecasts with public oversight; and (5) revising forecasts mid-session. Nevada is one of 13 states that has implemented all five best practices.
Center for Priority Based Budgeting
The Center for Priority Based Budgeting (CPBB), provides technical and advisory services to assist local governments, school districts and other non-profit agencies achieve fiscal health and wellness through Priority Based Budgeting. This process enables communities to reassess their priorities in order to make sound, long-term funding decisions.
Pew-MacArthur Results First Initiative
Results First is a project of The Pew Charitable Trusts and the John D. and Catherine T. MacArthur Foundation, which works with states to implement a cost-benefit analysis approach that helps them invest in policies and programs that are proven to work.
State Film Production Incentives and Programs
The National Conference of State Legislatures maintains information on film tax incentive programs for each state.
Evidence Counts: Evaluating State Tax Incentives for Jobs and Growth
This report by Pew Center on the States concluded that 13 states are leading the way in generating much-needed answers about tax incentives’ effectiveness, 12 states have mixed results, and half the states, including Nevada, have not taken the basic steps needed to know whether their incentives are effective. The study highlights a wealth of promising approaches states have taken to help lawmakers find those answers.
Avoiding Blank Checks: Creating Fiscally Sound State Tax Incentives
This report by the Pew Center on the States concluded that reliable cost estimates and annual cost controls for tax incentives have helped states promote job creation and economic growth while avoiding unexpected budget challenges. But Pew’s analysis shows that policy makers often create tax credits, deductions, and exemptions without these tools, raising the risk of budget shortfalls and unplanned spending cuts or tax increases to close them.
Most States Funding Schools Less Than Before the Recession
The Center on Budget and Policy Priorities found that at least 34 states are providing less funding per student for the 2013-14 school year than they did before the recession hit, at least 15 states are providing less funding per student to local school districts in the new school year than they provided a year ago, and funding increases have not generally increased enough to make up for cuts in past years.
The State Role in Local Government Financial Distress: As Cities Confront Financial Challenges, States Weigh Whether to Help them Pull Through
This study by the Pew Charitable Trusts examines the range of state involvement in local government finances, drawing on current literature, statutes, a survey of state officials, and interviews with government finance analysts.
Tax Flight is a Myth: Higher State Taxes Bring More Revenue, Not More Migration
The Center on Budget and Policy Priorities found that higher state taxes do not lead to households migrating to other states. The study found that migration is not common, migration is much more likely to be driven by cheaper housing than by lower taxes, income tax increases cause little or no interstate migration, and low taxes can prevent a state from maintaining the kinds of high-quality public services that potential migrants value.
Reno Gazette Journal, August 12, 2013 Who will enjoy tax breaks for the film industry? Not who you think Las Vegas Sun, June 27, 2013