In case you’ve missed some key articles this week: Multinational corporations closer to tax holiday. Read more by clicking here. San Jose gets a revenue boost from taxing marijuana. Read more by clicking here. Refunds and post tax season planning. Read more by clicking here. Big Oil procedural vote goes nowhere. Read more by clicking…
Sodas. Tanning. Wine. Hookers. In the scramble to raise revenues, city, state and federal governments have considered slapping taxes on nearly everything they can figure that qualifies as a vice. While some of those efforts have been derided (remember criticisms of the fat tax?) and subsequently derailed, a few of these sin taxes have been…
While the use of marijuana for medical reasons remains controversial, it’s becoming more mainstream. Currently, 14 states and DC have legalized medical marijuana in some form (you can check out the details here). That’s pretty interesting in and of itself since marijuana remains illegal for federal purposes. From a tax perspective, the legality of medical…
A measure to tax the gross receipts of licensed medical marijuana dispensaries in Oakland passed overwhelmingly on Tuesday. The vote makes Oakland the first city in the US to tax marijuana. The tax was put on the ballot after a considerable push from the medical community. City Council jumped on the bandwagon, too, when it…
It’s Fix the Tax Code Friday! This week, the focus has been on California and the possibility that they could legalize marijuana, primarily so that it could be taxed. Of course, this made me think about the tax consequences of taxing other illegal activities such as prostitution. While it is true that income from these…
Every year, you hear a bunch of folks, supposedly on the fringe, touting the advantages of the legalization of marijuana. And every year, bills come and go with proponents wondering exactly what it would take to convince legislators to take them seriously. Maybe what it would take is a budget crisis. With a major budget…