Casinos, Wal-Mart, mining big beneficiaries if taxes sunset

By David McGrath Schwartz

Wednesday, May 25, 2011 | 7:09 p.m.

Major casinos, Wal-Mart and gold mining companies would get millions of dollars in tax cuts if the Legislature doesn’t extend taxes passed in 2009, according to a list presented to the Legislature today.

Nevada System of Higher Education Chancellor Dan Klaich gave the list to the Assembly Ways and Means Committee as it considered a bill to extend the $626 million in taxes.

He noted that just about every company on the list of top 50 beneficiaries testified Wednesday in favor of extending the taxes that will otherwise sunset on June 30.

“Everyone came here and said, ‘Please don’t reduce my taxes,’ ” Klaich said. “I wonder who we’re serving by not allowing sunsets to go forward.”

Under a list compiled through the Employment, Training and Rehab Department, Wynn Resorts would be the biggest beneficiary in the state with the payroll tax reverting to pre-2009 levels. That would save the company $3 million a year.

Wal-Mart was No. 2 with a $2 million annual benefit. That was followed by MGM Grand and the Bellagio, the Venetian, Aria and Newmont Mining.

Hospitals, Southwest Airlines and NV Energy were also in the top 25.

Gov. Brian Sandoval promised during his campaign not to support increased taxes and said he would veto taxes passed by the 2009 Legislature. Assembly Republicans have said they’re willing to negotiate for long-term government reforms, but Senate Republicans have stood firm with Sandoval. The session ends June 7 at 1 a.m.