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LA Expects $50 Million in Local Recreational Marijuana Tax Collection
breitbart ^ | 09/16/2017 | Chriss W Street

Posted on 09/16/2017 10:55:56 AM PDT by DFG

Los Angeles is scrambling to make sure the City of Angeles soon starts collecting at least $50 million a year as the world’s top spot to buy recreational marijuana. The countdown clock is ticking down to January 2, 2018, when California joins Nevada, Colorado, Washington, Oregon, Massachusetts, Alaska and Washington DC as locations to legally buy marijuana for recreational use.

California state bureaucrats and politicians are almost giddy over the $1.8 billion in annual tax revenue that the New Frontier Financials expects the state will collect from its 15 percent excise and dry-weight taxes on “weed.”

But many of California’s 58 counties and 482 cities are also competing to cash in on the recreational marijuana bonanza by tacking on a local sin sales tax of up to 25 percent of purchase price. Cities including Tulare, Coalinga, Del Rey Oaks, and others have stated that they will use local marijuana tax collections to pay for rapidly increasing public pension contributions that are threatening their solvency.

(Excerpt) Read more at breitbart.com ...


TOPICS: News/Current Events; US: California
KEYWORDS: abuse; adiction; cannabis; drugabuse; hollywood; losangeles; loserangeles; marijuana; polpot; pot; potpushers; substanceabuse; weaklingsondrugs; wod
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Kalifornicate cities hope the the "sin sales tax" on recreational marijuana will solve their pension fund shortage.
1 posted on 09/16/2017 10:55:57 AM PDT by DFG
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To: DFG

Estimates may not reflect the ultimate reality.

Why do moonshiners still exist?


2 posted on 09/16/2017 10:57:34 AM PDT by ptsal ( Get your facts first, then you can distort them as you please. - M. Twain)
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To: DFG

The higher the taxes the bigger illegal sales.


3 posted on 09/16/2017 10:57:37 AM PDT by Oldexpat
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To: DFG

Taxes all paid in cash?

The inability of Banksters to take pot-related bidness deposits must be good for the laundry industry...


4 posted on 09/16/2017 10:58:31 AM PDT by HLPhat ("TO SECURE THESE RIGHTS" -- Government with any other purpose is not American.)
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To: ptsal

Add Arizona and a few other states to that list in the near future...


5 posted on 09/16/2017 10:59:50 AM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: DFG

Your post nailed it right out of the gate.


6 posted on 09/16/2017 11:11:20 AM PDT by SpaceBar
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To: DFG

the sedation of the lower orders begins. our brave new world has begun.

and nobody cares.


7 posted on 09/16/2017 11:13:53 AM PDT by JohnBrowdie
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To: DFG

Sure there be $50million in marijuana tax revenues. The dope smokers would never think about smoking non taxed weed, that would be illegal.


8 posted on 09/16/2017 11:15:18 AM PDT by okie 54
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To: DFG

MJ taxes will be just like gas taxes that don’t go to roads.


9 posted on 09/16/2017 11:18:15 AM PDT by umgud
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To: DFG
local sin sales tax of up to 25 percent of purchase price.

People will just drive out of town for their weed. It takes a liberal to not know this.

10 posted on 09/16/2017 11:18:23 AM PDT by NobleFree ("law is often but the tyrant's will, and always so when it violates the right of an individual")
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To: DFG

And people will start buying black market MJ.


11 posted on 09/16/2017 11:18:59 AM PDT by umgud
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To: okie 54
The dope smokers would never think about smoking non taxed weed, that would be illegal.

East Coast cigarette smokers would never think about smoking non taxed cigs, that would be illegal.

12 posted on 09/16/2017 11:21:01 AM PDT by NobleFree ("law is often but the tyrant's will, and always so when it violates the right of an individual")
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To: umgud
And people will start continue buying black market MJ.

Fixed it.

13 posted on 09/16/2017 11:22:08 AM PDT by NobleFree ("law is often but the tyrant's will, and always so when it violates the right of an individual")
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To: JohnBrowdie
the sedation of the lower orders begins.

Naw, that happened when Prohibition ended.

14 posted on 09/16/2017 11:22:57 AM PDT by NobleFree ("law is often but the tyrant's will, and always so when it violates the right of an individual")
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To: DFG

LA Expects a lot of things that never come true guess it’s why Ca is 2 trillion in debt day light has been shut off to them years ago.


15 posted on 09/16/2017 11:27:15 AM PDT by Vaduz (women and children to be impacted the most.)
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To: NobleFree

yeah, the end of that 13 year hiccup in human history changed everything.

alcohol existed legally for a millennium before prohibition, and it existed nearly unfettered during prohibition.


16 posted on 09/16/2017 11:28:37 AM PDT by JohnBrowdie
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To: DFG

So enough money to fix maybe 100 pot holes


17 posted on 09/16/2017 11:28:55 AM PDT by al baby (May the Forceps be with you Hi Mom Its a Joke friends)
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To: JohnBrowdie
alcohol existed legally for a millennium before prohibition, and it existed nearly unfettered during prohibition.

Marijuana existed legally for a millennium before 1937, and it exists nearly unfettered under today's federal laws.

18 posted on 09/16/2017 11:30:09 AM PDT by NobleFree ("law is often but the tyrant's will, and always so when it violates the right of an individual")
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To: NobleFree

ah. gotcha. you’re pro-dope. probably a libertarian, and maybe even a single issue voter - any agenda is fine as long as you get your pot.

they’re the only zealots that still try to push the alcohol argument.

pot is your God. I get it. it’s all about getting your grass.


19 posted on 09/16/2017 11:34:55 AM PDT by JohnBrowdie
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To: DFG

The makings of a truly green economy and budding utopia.

?? Or a smokescreen to spend even more on frivolities?


20 posted on 09/16/2017 11:36:34 AM PDT by NormsRevenge (Semper Fi - Monthly Donors Rock!!!)
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