Citing the unanimous support for legislation to provide tax incentives to bring Tesla’s battery gigafactory to Nevada, Assemblyman Jim Wheeler said he will introduce a new bill to repeal the modified business tax in Nevada.
In a statement issued Monday, Wheeler said repeal of the bill and reduction in spending required to balance the budget would provide a tax structure that attracts business to the state and supports firms which are already here.
“Obviously, this was a nonpartisan issue that brought both sides of the aisle, as well as north and south to the table to achieve a common goal for the entire state of Nevada,” he said.
“But what do we learn from this financial lesson? To me, the answer is clear. All 63 Legislators showed by way of their vote that we need to be competitive in our tax structure in order to bring manufacturing, or any other business to Nevada.”
Calling the issue nonpartisan, he thanked officials on both sides of the aisle for their work.
“We can thank our governor and his staff for their 11 months of hard work and negotiations for this boom to Nevada’s economy,” he said.
“Also involved were U.S. senators Harry Reid and Dean Heller, as well as the majority and minority leaders of both Nevada Houses.”
Wheeler said unanimity should be applied to achieving a competitive tax environment in Nevada.
“How do we achieve the goal of a competitive tax environment in Nevada in order to attract business as well as retain it?” he asked. “In my opinion the first step would be to finally sunset the Modified Business Tax in Nevada.
“I hope that our entire Legislature will be as receptive to a bill that helps our existing businesses as much as they were receptive to a bill that helped bring new business to Nevada.”
Wheeler defeated a challenge in the primary and faces Independent American Al Giordano in the general election.