Nevada Banks Looking for a Tax Break

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00001633-nevada-banks-looking-for-a-tax-break/

By Cy Ryan, Las Vegas Sun

Nevada bankers, feeling they have not been treated fairly, asked the Legislature Thursday for a tax break of more than $20 million a year.

Grant Markham, chairman of the Nevada Bankers Association, told the Senate Taxation Committee the industry “has not been devastated.” But he said smaller banks have taken a major hit.

The 2003 $833.5 million tax plan imposed a 2 percent tax on the payrolls of financial institutions and a $7,000 a year tax on branch banks. Other businesses are paying a 0.65 percent tax on their payrolls.

For this complete story, please visit http://www.lasvegassun.com/sunbin/stories/lv-gov/2005/apr/08/518572630.html.

Nevada Banks Looking for a Tax Break

Unknown Author

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