Initiative for gold mining tax

Fri, Dec 4 2009 — Source: Las Vegas Sun

A liberal advocacy group will go after gold miners’ state tax deductions, in an effort to raise more than $200 million a year for state coffers. The board of the Progressive Leadership Alliance of Nevada voted last month to pursue a statutory initiative to eliminate most of the deductions that reduce the taxes paid by gold mining companies. Liberals have argued for years that mining does not pay its fair share in tax ”” an argument that has gained traction as gold prices have soared to record levels while the state’s general fund has faced massive budget shortfalls.