A bill that attempts to close a tax loophole revealed by a Review-Journal investigation passed the Legislature and awaits action by Gov. Joe Lombardo.
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Experts say the legislation to close the transfer tax loophole will not result in a significant increase in the payments.
Nevada lawmakers are looking to close a loophole that has let casinos and other big property owners avoid paying transfer taxes.
Lawmakers introduced the bill in response to a Review-Journal investigation that showed some of the largest real estate transactions did not pay a transfer tax.
Proposed legislation would ensure the tax still applies if the property is transferred to a business entity that was “formed for the purpose of avoiding those taxes.”
Clark County cleared the way for a guitar-shaped hotel tower to be developed at The Mirage, a project that would spell the end of the resort’s iconic volcano attraction.
Hard Rock International is looking to build a 600-room high-rise along Las Vegas Boulevard.
The City Council gave the green light to sell almost 6 acres in Symphony Park to a developer who plans to build a mixed-use project with residential and commercial space.
Housing affordability and evictions comprise “the biggest issue facing our community,” the Southern Nevada nonprofit law firm said in a news release.