What percentage of the Nevada budget comes from gambling, hospitality and entertainment taxes?
Nevada’s budget for 2024-2025 will be $11.6 billion.
in fiscal 2022, $964.5 million in gaming taxes were collected; in fiscal 2023, $971.2 million.
The live entertainment tax is a relatively minor donor: $91.3 million in fiscal 2020.
So are room taxes, which are mostly funneled to underwrite the operations of the Las Vegas Convention and Visitors Authority.
All these figures are dwarfed by sales taxes, which added up to $2 billion in the last fiscal year), as well as federal transfer-tax payments (also $2 billion and change).
According to a pie-chart breakdown by the Guinn Center (named after the late Gov. Kenny Guinn), only 18% of the state’s General Fund comes from gaming taxes. Live-entertainment taxes contribute 2.7% and lodging levies don’t even show up.
Entertainment and lodging sources of revenue for the state are dwarfed by a “non-financial business” impost (14.4%) and sales taxes, the biggest contributor at 29%.
Las Vegas Review-Journal columnist Steve Sibelius once described Nevada’s consumption-based revenue model as “designed to fail in bad times.”
To put this in some sort of context, Nevada’s state and local governments spent $19.4 billion in fiscal 2022. That puts the Silver State toward the lower end of all the states, although nowhere near as low as thinly populated Wyoming’s $5.6 billion. The spending champion was California, budgeted at $510 billion in FY22. According to the federal Census Bureau, Nevada spent $8,675 per resident in fiscal 2020. The national average was $10,540.
Nevada’s biggest outlay was for elementary and secondary education ($1,665 per capita), followed by public welfare at $1,524 a head. These were well below national averages, with Nevada spending above-average amounts only on police, prisons, and roads and highways. The state also exceeds national averages in both general and selective sales taxes, the downside to a lack of personal or corporate income taxes.
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Doc H
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Jackie
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Kevin Lewis
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David Miller
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VegasVic
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lennylasvegas
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jay
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Doc H
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Susan Johnson
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Doc H
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VegasVic
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CLIFFORD
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Walter Suttle
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Doc H
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Doc H
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Kevin Lewis
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David Miller
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