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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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.”
A bill would raise the tax slapped on sales of homes, warehouses and other real estate in Nevada.
Ex-Assemblywoman Shea Backus, who served in Assembly District 37 from 2018-2020, is trying to win back the seat this year.
Two-term incumbent Assemblywoman Michelle Gorelow is facing off with two challengers, a Republican and a Libertarian.
Incumbent Democratic Assemblywoman Lesley Cohen is fighting against city of Las Vegas employee and Republican Rhonda Knightly to retain her Assembly District 29 seat.
Assemblywoman Shannon Bilbray-Axelrod is seeking her fourth term in the Assembly, facing Republican Stacy Butler, an Air Force veteran.
Las Vegas has seen numerous lucrative sales involving casinos, land and other sites mostly on or near the Strip that did not produce a dime in such revenue.
Incumbent Leslie Cohen is being challenged by an attorney, while two Republicans are fighting for their party’s nomination in the Henderson-area district.