Home Tags Taxes

Tag: Taxes

Recreational marijuana: Is the money really going to education?

6/14/19--So far, the marijuana money can’t really be tracked, but that is expected to change in a few years when the legislature passes a new funding formula bill, but it will not have an impact on funding for the next school year. Read

Marijuana tax windfall fails to materialize in California – Pot Tax 101 for Pennsylvania?

5/10/19--A thriving underground marijuana market and slower than projected legal sales have caused California to slash the windfall of tax revenue it expected to reap after legalizing the drug. The state is now projecting weed taxes will amount to $288 million for the year that ends in June, and $359 million for the following year. That’s a reduction of $67 million and $156 million, respectively, from Gov. Gavin Newsom’s January budget forecast. Read

Taxing cannabis

1/23/19--For decades, analysts interested in the tax revenue potential of legalizing marijuana had to use unreliable survey data and speculation regarding how a legal market might operate. But this is changing, and various options exist for structuring state and local taxes on marijuana. A report presented by the Institute on Taxation and Economic Policy (ITEP) undertakes an in-depth exploration of state marijuana tax revenue performance and offers a glimpse into what may lie ahead for these taxes. Read

Can data storytelling help save local journalism?

11/16/18--A small team of KING journalists worked for two months with Microsoft's Modern Journalism Program and Power BI experts to analyze mounds of public records, turning them into visually rich stories told with graphics and animations. The pilot’s mission followed one of the highest principles of TV news: unraveling crucial if not complicated topics to offer easy-to-understand stories that help local viewers better understand their world. Jake Whittenberg, reporter and anchor with KING-TV in Seattle, says, “We wanted to find a model that could support the kind of storytelling and the kind of journalism that, frankly, we need to get back to.” Read

Cannabis taxes state by state: What we know so far

8/8/18--The way states choose to tax marijuana plays a crucial role in how their marijuana markets will take shape, and will almost definitely have long-term effects on things like public health and criminal justice. To better understand where marijuana tax dollars end up in different states, Cannabis Wire provides a breakdown of how each state that has legalized marijuana collects and handles its revenue. Read

Cannabis taxes state by state: what we know so far

8/8/18--The way states choose to tax marijuana plays a crucial role in how their marijuana markets will take shape, and will almost definitely have long-term effects on things like public health and criminal justice. One way states can make better decisions about taxation (as well as other aspects of legalization) is to study what happened in other states. Read

High Times: a look at weed tax laws across the country

6/21/17--A bill that would increase the tax rate on recreational marijuana from 12 percent to 28 percent sparked controversy when it was introduced in the Massachusetts House. Advocates who want to preserve the legalization law approved by voters say the tax rate pushed by the House would contribute to illegal sales by increasing the price of legal pot. Supporters of the House measure claim it would keep marijuana out of the hands of minors by sharply limiting advertising and putting more restrictions on edibles. Read

Why more pot businesses are suddenly getting audited by the IRS

fb-square-english-spanish10/13/16--The IRS’ auditors have been paying closer attention to the cannabis industry of late, says James Thorburn, an attorney with Thorburn Walker LLC in Greenwood Village, Colo. “Any business that is handling product is probably going to be subject to an audit,” Thorburn says. “It’s not a question of if at this time, it’s a question of when.” Read