CNR board member gets critical

Members of the Board of Advisors of the Center for New Revenue do not necessarily agree with the Center’s actions.  Here’s an example.

I signed a letter urging Congress not to cut taxes for the most fortunate again.  Paul Gallis (Ph.D. History, Brown), a long-time Board Member, wrote:

“Was it written by committee?  Ask for a pass at re-writing if you’re displeased with what’s been produced.  In its present state, it wouldn’t be attractive to an editorial page, so whoever put work into the piece is unlikely to see any results.  You can be sufficiently diplomatic in asking for a last look at it.  Otherwise, there’s no use putting any effort at all into a piece that makes points that are worth a wider readership, but is laboriously written.” Continue reading CNR board member gets critical

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Center for New Revenue opposes federal tax cuts

The Center for New Revenue has signed a letter, begun by Americans for Tax Fairness.  The summary gives you the idea:

OPPOSE “ROUND 2” OF TRUMP-GOP TAX CUTS – STOP ANOTHER MASSIVE GIVEAWAY TO THE WEALTHY

https://docs.google.com/forms/d/e/1FAIpQLSdHuiVlUWHwrWeSJHkZUZjbRzvc_GFfBP73vJcjy73bAKSknQ/viewform

Here’s the rest: Continue reading Center for New Revenue opposes federal tax cuts

Video of Connecticut Marijuana Panel

My usual take on cannabis taxes:  tax low at first, tax by weight or THC, be careful about exempting medical.  Government sales are better.  After one of my co-panelists enthuses about female and minority MARIJUANA MILLIONAIRES, I show nervousness — I don’t think there will be very many.  Connecticut Legislative Commission on Women, Children and Seniors Cannabis Forum, Legislative Office Building, Hartford, Cannabis Revenue Panel, April 30, 2018. Video at http://ct-n.com/ctnplayer.asp?odID=15247; my intro at 39’30”; main remarks at 2’34”.

Continue reading Video of Connecticut Marijuana Panel

Current state taxes on marijuana bud or flower, per gram

Current state weight-based taxes on marijuana bud or flower, per gram (and retail rates):

Alaska $1.76 (No retail tax).
California 33 cents (15% retail tax).
Colorado 34 cents (15% retail tax).
Nevada 75 cents (10% retail tax).

Math and methodology are at https://newrevenue.org/2017/07/02/nevadas-70-cent-per-gram-tax-on-marijuana-flower/.

Alaska statute says $50 per ounce.
California statute says $9.25 per ounce.
CO data is from from https://www.colorado.gov/pacific/sites/default/files/AverageMarketRate.pdf; NV data is from , up from 70 cents: https://newrevenue.org/2017/07/02/nevadas-70-cent-per-gram-tax-on-marijuana-flower/.

 

Center for New Revenue opposes repeal of per-ounce marijuana tax in Alaska

Email to Erika McConnell, Director of the Alaska Alcohol and Marijuana Control Office

Dear Ms. McConnell:

The cannabis industry naturally wants to repeal the weight-based, per-pound tax you have in Alaska. http://komonews.com/news/local/alaskas-legal-pot-industry-decries-taxes-seeks-changes

The state and the people have interests that conflict with those of the industry. Continue reading Center for New Revenue opposes repeal of per-ounce marijuana tax in Alaska

Marijuana Revenue Competition — Look Out Below — in State Tax Notes

Marijuana Revenue Competition — Look Out Below

Exclusive license with State Tax Notes expired, so here is  the article: Tax Competition FINAL STN 5.7.18 Oglesby, from State Tax Notes, Vol. 88, No. 6, 2018.

Abstract

Beyond the ever-present illegal market, a more subtle threat to marijuana revenue lurks:

Tax competitors (think: tax havens) threaten subnational jurisdictions that can’t or don’t control their borders.

This article presents a framework for looking at threats to marijuana revenue: Continue reading Marijuana Revenue Competition — Look Out Below — in State Tax Notes

CNR recommends cannabis tax chart

This is the best comparative chart on cannabis taxes I’ve seen, from Fox Rothschild, an 800-person law firm.  The big accounting firms were still steering clear of marijuana, last I heard, and this is the biggest law firm I’ve heard of that’s been publicly associated with marijuana.

UPDATE:  I don’t intend faint praise for this work.  It’s a huge undertaking, and a valuable one.  Thanks to Jennifer Benda and Jacob Millis for doing it.  I want to be an expert on marijuana taxes, but didn’t have the patience for this big job.  This kind of exhaustive scholarship illuminates the landscape, as Alvin Rabushka did with Taxation in Colonial America.

In 2011, I could fit all the world’s marijuana taxes onto page 257 of this.  But there is more work to be done.   Now, there are hundreds of local taxes in California and Oregon alone — like Arcata’s electricity tax.  Local fees could fill a book already. Continue reading CNR recommends cannabis tax chart