Gold: Mining companies may begin shunning Nevada

April 3, 2013

Dick's note:  "Long considered one of the most mining-friendly states in the US, the state of Nevada is on the cusp of biting the hand that feeds it. The state senate approved a proposition to end the "tax-cap" on mining companies. It could go to referendum vote in 2014. Worse, other states could begin doing the same thing. "Miners are raking in giant profits, right? They should pay more tax." It's thinking like that which undermines investment, wealth, and ultimately civilization."

(Associated Press - "Nevada Senate ok's repeal of mining tax protections") The Nevada Senate on Monday approved a resolution to repeal mining tax protections in the state constitution, a move supporters say will give legislators leeway to determine appropriate tax rates on a booming industry... Kihuen, chairman of the Senate Revenue Committee that unanimously recommended approval of the resolution, added, "We feel this is the right thing for our constituents and the state of Nevada."

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