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February 24, 2013
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California law would tax Nevada businesses

Sen. James Settelmeyer, R-Minden, is trying to sound the alarm about a new California law he says could impose that state's corporate income tax on thousands of Nevada businesses.Proposition 39 was approved by California voters in November and restructures how multi-state businesses calculate the taxes they must pay on sales and services to California customers. It was billed as closing a loophole allowing multi-state businesses to avoid taxes by moving jobs out of California.Reno Certified Public Accountant David Turner, a former member of Nevada's Tax Commission, said the old formula took into account not only the percentage of a company's …

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The Nevada Appeal Updated Feb 25, 2013 04:47PM Published Feb 24, 2013 04:18AM Copyright 2013 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.