Jim Marchant Is a Man of Principle

MarchantJim Marchant is seeking election as the District 37 assemblyman in Las Vegas, Nevada. He is a long-time business owner in the state. Marchant is a man of principle who believes that a man is only as good as his word. He vows that when he is elected, he will not only keep all of the campaign promises he makes on the road to becoming the District 37 assemblyman, but he will listen to the people in his district and work for them – not against them.

The voters will go to the polls for the primary on June 14, 2016, to choose between Marchant and the incumbent for the district. They will return again for the main election on Nov. 8, 2016, for a final vote to choose between the Republican and Democratic candidates. The newly elected Nevadan officials will take office in February 2017.

Marchant is planning fundraising events during his campaign, one of which will be hosted by Wayne Allen Root on Jan. 19, 2016. For more information, please visit Marchant’s election website.

The Commerce Tax

The candidate recently discussed his concerns about the tax changes Governor Sandoval signed into law in June, which became effective on July 1, 2015, and the negative consequences they have brought, and will continue to bring, for the businesses and consumers in Nevada.

According to a blog published by Fox Rothschild, Attorneys at Law, “It appears that hell has finally frozen over in the Silver State.” This statement refers to the new Commerce Tax that affects every business, no matter the size. The law requires all companies to file an annual Commerce Tax return form, even if they have no tax liability. The first filings are due 45 days after the end of the fiscal year ending June 30, 2016.

Additionally, the new tax structure is based on gross income, with no deductions for payroll, expenses incurred, or goods sold. The rates are based on the industry in which a business entity operates, with rates varying from 0.051-0.331 percent.

Marchant believes the state is losing businesses as a result of the Commerce Tax. Nevada had previously been known as a state where corporations chose to incorporate and have their main offices, however, with the increased fees for incorporation and increased renewal costs, Marchant believes this will change. The difference will be felt in many ways. First, the state’s revenue will decrease, leading to companies no longer bringing their annual meetings, conventions, etc., to Nevada. This will ultimately result in the loss of jobs for the citizens, especially those in the hospitality industry.

Based on a report written by Jared Walczak for TaxFoundation.org, “The business fee will increase to a flat $500 for corporations while remaining a flat $200 for pass-through businesses.” A pass-through business is classified as S corporations, limited liability companies (LLCs), and sole proprietorships. Many other taxes have increased, including the cigarette tax, which was increased by 125 percent.

In December 2015, there was a special legislative meeting called to discuss an invitation to Faraday Futures to open their business in Nevada, with significant tax breaks offered as an incentive. Marchant is opposed to the tax breaks offered this company, saying the deal is similar to that given to the Tesla plant, which entered into an agreement with the state in 2014 and fell short of the projected forecasts.

According to the Nevada Policy Research Institute’s Dec. 21, 2015 report, the Faraday deal is equivalent to “the government picking winners and losers – anointing small businesses as the losers.” More than $300,000,000 was awarded to Faraday Futures in the form of transferable tax credits, handouts, and abatements. The projected increase of 4,500 jobs that were promised in exchange for these awards from the state is not as impressive as it sounds. The Small Business Administration indicates this is one-third fewer jobs than are normally created on a yearly basis by Nevada’s small businesses.

While those who are proposing the Faraday deal submit that the state will benefit from new jobs and other businesses will gain dollars as a result, Marchant and those opposing the deal emphatically state it will not bring enough business and money into the state to warrant offering incentives.

Education Issues

The education issue is another topic that concerns Marchant. The state of Nevada is ranked 50th in educational standards among the U.S. The candidate believes there is enough money allocated to education, however, it is being misappropriated. His proposal is to audit the entire system to unearth whatever corruption exists. The teachers who are not performing well need to be “weeded out.” He believes that a standard requirement must be set up to reward those teachers who are performing well. Furthermore, the Core Curriculum must be overturned, as it is ineffective as a teaching method and intrusive to students’ privacy.

Additionally, there are needless administrative costs that must be eliminated. Marchant gave the following example to demonstrate evidence of waste in the system. He said a fellow businessman, who owns a flooring company, was given a job to install expensive flooring, such as marble, in the education administrative building, and one year later, they were asked to redo the job. There was nothing wrong with the original work; the administration simply wanted different flooring in order to spend down the excess in the year’s budget. They explained that if the entire budget was not spent within a fiscal year, the money would not be allocated for the next year.

Gun Control

When discussing the current issues surrounding gun control issues in America, Marchant referred to the Second Amendment of the U.S. Constitution, saying, “Shall not be infringed upon.” He also emphasized that the people have the right to bear arms. His stance is that the government has already infringed too much and needs to stop, because the Constitution is the basis for all the rights Americans enjoy, and every time the government attempts to change it, the people lose.

By Cathy Milne

Jim Marchant: Interview on Jan. 7, 2016
TaxFoundation.org: Nevada Approves New Tax on Business Gross Receipts
Small Buisness Trends: New Nevada Commerce Tax: What You Need to Know
Nevada Policy Research Institute: Nevada small businesses create 3 times the jobs in one year that Faraday will create in 30

Featured Image Courtesy of Don Barrett’s Flickr Page – Creative Commons License
Inset Image Courtesy of Jim Marchant – Published with Authorization

One Response to "Jim Marchant Is a Man of Principle"

  1. Duncan Bankert   March 18, 2019 at 9:41 pm

    Considerably, this post is really the sweetest on this notable topic. I harmonise with your conclusions and will thirstily look forward to your incoming updates. Saying thanks will not just be sufficient, for the phenomenal clarity in your writing. I will directly grab your rss feed to stay informed of any updates. Admirable work and much success in your business dealings!? Please excuse my poor English as it is not my first tongue.


Leave a Reply

Your email address will not be published.