Nevada casinos to
get $150 million back from comp meals
The
Nevada Supreme Court will not reconsider its ruling on the case
which could bring as much as $150 million back to the state's
casinos from the tax coffins. The case, initiated by Sparks
Nugget Casino, claimed that the casinos should be exempt from
the tax on meals they had offered free to patrons and employees,
seeking refund on the taxes already paid. The court in the
original opinion agreed, saying no taxable event occurred
between the tax-free purchase of the food and when the casino
gave the meals away. The tax refund could go as high as $150
million, according to estimates, while Sparks Nugget Casino
alone is seeking $1.3 million refund. The state could be liable
for as much as one third of the total refund amount, while the
local governments and schools would cover the rest. The Nevada
Department of Taxation says requests for refunds flooded his
agency after the initial decision.
Published on
07/19/2008
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