- Days left
It's not as good as getting a $5 off coupon, but prostitutes and their patrons in Nevada got a break last week when state lawmakers defeated a $5 tax on each customer served by a prostitute.

The tax would have raised an estimated $2 million a year in Nevada, which is dealing with a $3 billion budget crisis, high foreclosures, falling tourism dollars and a deep recession, according to a Reuters story.

Prostitution is legal in Nevada, but some lawmakers felt taxing it more would legitimize an industry they regard as distasteful and morally bankrupt. A Nevada state Senate committee voted 4-3 to kill the tax proposal.

About 20 legal brothels operate in rural Nevada, all outside Las Vegas and surrounding Clark County, where prostitution remains outlawed.

Brothels and their prostitutes are taxed by local governments and already pay an annual $100 licensing fee each to the state.

A lobbyist for the state's prostitution industry supported the proposed tax and called it a kind of "insurance policy" against future efforts by the state to end legalized brothels.

After all, once lawmakers get used to going to a prostitute for money, they won't want to stop.

Increase your money and finance knowledge from home

Getting out of debt

Everyone hates debt. Get out of it.

View Course »

Intro to different retirement accounts

What does it mean to have a 401(k)? IRA?

View Course »

TurboTax Articles

Video: Tax Guidelines About Gifting

Note: Some of the content of this video applies only to taxes prepared prior to 2012. It is included here for reference only. Find out the tax guidelines about gifting with help from TurboTax in this video on tax tips.

Video: What are Income Tax Rates?

Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. Income tax rates change depending on both the amount of money you make and how you made it. Find out about income tax rates with help from TurboTax in this video on tax tips.

Video: How To Reduce Errors on Your Tax Return

Did you know that errors on your tax return can affect the amount of your tax bill and the amount of time it takes to get a refund? Fortunately, TurboTax helps you avoid errors AND be sure you're getting all the tax deductions and credits you deserve.

Does Your Company Need to File Form 1095-B?

A company is responsible for filing IRS Form 1095-B only if two conditions apply: It offers health coverage to its employees, and it is "self-insured." This means that the company itself pays its employees' medical bills, rather than an insurance company. A company that doesn't meet both conditions won't have to deal with Form 1095-B. Its employees might still receive a 1095-B, but from their insurer, not the employer.

Video: Who Qualifies for an Affordable Care Act Exemption (Obamacare)?

The Affordable Care Act requires all Americans to have health insurance or pay a tax penalty. But, who qualifies for an Affordable Care Act exemption? Find out more about who qualifies for an exemption from the Affordable Care Act tax penalty, how to claim an exemption on your tax return and how the Affordable Care Act may affect your taxes with this video from TurboTax.

Add a Comment

*0 / 3000 Character Maximum