Marijuana tax thinking: Still in its infancy

A property tax on marijuana trademarks and patents seems almost impossible to administer.  Figuring the value of those intangibles requires estimating the income they would generate, in a circumstance of total uncertainty.  But Washington State House Bill 1976, just introduced, would impose a tax of $3.60 per $1,000 “of assessed value Continue reading Marijuana tax thinking: Still in its infancy

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Tax legislative lingo: Rush to recede

In Congressional Conference Committees reconciling House and Senate tax bills, in the 1980s, at least, staffs worked through spreadsheets listing conflicting provisions and the evolving state of play as  the two Houses gradually came into agreement.

The typical state of play early on went something like this for a particular provision:  House position:  Senate recedes.  Senate position:  House recedes.  Neither side

Continue reading Tax legislative lingo: Rush to recede

Tax legislative lingo: Underbrush

Back when I worked for Congress, 1982-90, tax legislation — or negotiations in Congressional Conference Committee — often started with what staff called “underbrush” — pieces of a bill that everyone could agree on.  “Everyone” meant six or seven groups:  majority and minority staffs of Ways and Means in the House and Finance Continue reading Tax legislative lingo: Underbrush

China’s Carbon Tax

As a tax policy person, it’s heartening to see China reportedly preparing to tax carbon “proactively,” while America can’t enact the weak substitute, cap and trade.  The leading Chinese paper gets into the economic effects, but doesn’t get to the heart of the matter, tax evasion.  Still.  That paper is “The Design on China’s Carbon Tax to Mitigate Climate Change.”  “On” is not a typo:

Continue reading China’s Carbon Tax

Colorado panel recommends new marijuana tax

Having worried that Colorado’s Amendment 64 probably tended to undertax marijuana in “Gangs, Ganjapreneurs, or Government: Marijuana Revenue up for Grabs,” 66 State Tax Notes 255-269 (October 22, 2012), online at http://ssrn.com/abstract=2165864, I’m glad to read about a new-starter tax, though the details remain to be seen:

(From Jacob Sullum:) The Denver Post reports that the task force wants marijuana to be heavily taxed. Continue reading Colorado panel recommends new marijuana tax