The Center for New Revenue, a North Carolina not-for-profit corporation, is interested in new and more sensible revenue, with a particular interest in marijuana taxes. This subject has been kept in the closet, as the folks thinking about it the most are taxpayers — ganjapreneurs, cannabisnessmen — folks who seek to profit from legal marijuana sales. Naturally enough.
The Center was founded in 2011 by Pat Oglesby, who worked for the Joint Congressional Committee on Taxation from 1982 to 1988, first as a Legislation Attorney and then as the Foreign Tax Counsel, and who, thanks to Senator Lloyd Bentsen, held the position of Chief Tax Counsel of the Committee on Finance of the United States Senate for two years. More at Pat Oglesby CV July 2014.
The Center’s Board of Advisors includes Joseph Murphy, of Boone, North Carolina; Robert Schofield, of Georgetown, South Carolina; and Albert Varner, M.D., of San Rafael, California. Advisors do not necessarily agree with views expressed on this blog, or by the Center.
Current topics of interest include (1) a potency base for marijuana taxation, (2) the monopoly alternative to the taxation for marijuana, and (3) the denial of the advertising deduction under Internal Revenue Code section 280E and its state analogues.
A secondary focus is international taxation, though there big capital has the votes. An ongoing cause, outside the world of intoxicants, is opposition to a Tax Repatriation Holiday for income of U.S. multinationals artificially shifted offshore and trapped there.
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