Cutting the Modified Business Tax
What they say
His campaign says he lowered the Modified Business Tax rate by 15%.
“lowered the Modified Business Tax rate by 15%”
Source: Lombardo for Governor
What the record shows ·
The rate did fall about 15%, from 1.378% to 1.17%, on July 1, 2023. But a 2015 state law cut it automatically because tax collections ran high. The Department of Taxation made that finding on September 30, 2022, before he took office.
Sources: Legislative Counsel Bureau, Fiscal Analysis Division, Nevada Department of Taxation
Limit: The cut took effect in his first year as governor. We found no bill he signed that changed the rate.