Nevada Supreme Court takes up tax initiative

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Updated: 12/05/2012 1:13 pm

CARSON CITY, Nev. (AP) — Nevada Supreme Court justices hear arguments on whether a business tax proposal pushed by the teachers union meets legal muster.

Wednesday's arguments come after backers of the Education Initiative turned in nearly 150,000 signatures — more than twice the amount needed — to send the proposal to state lawmakers in February, or more likely to voters in 2014.

But a lower court judge in October ruled the petition was invalid because the description of what it would do was flawed.

The proposal would impose a 2 percent margin tax on businesses making $1 million or more. Supporters say it would provide as much as $800 million a year for schools.

A business group argues the petition is deceptive because it doesn't guarantee more funding for education.

©2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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