What sources of revenue is the State of Nevada?
Subject : Social Studies
Question:
What sources of revenue is the State of Nevada specifically prohibited from using? Check all that apply.
A. Sales Tax
B. Personal income tax
C. Inheritance tax
D. Property moving through the state
E. Property Taxes
F. Lotteries
G. Gambling taxes
Expert Verified Solution:
B) Personal income tax
C) Inheritance tax
F) Lotteries
Description: The State of Nevada is specifically prohibited from using certain sources of revenue due to its unique tax structure and constitutional provisions. The prohibited sources include:
- Personal Income Tax: Nevada is one of the few states that does not impose a personal income tax. This prohibition is a key aspect of the state’s appeal, particularly for residents and businesses seeking to avoid income taxation.
- Inheritance Tax: Nevada does not impose an inheritance tax, which aligns with its overall tax-friendly environment.
- Lotteries: The Nevada Constitution specifically prohibits the operation of lotteries within the state. This prohibition is due to the state’s reliance on its legal gambling industry, which includes casinos and other forms of regulated gambling, as a major revenue source.
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