runamukk

Calif tax officials: Legal pot would rake in $1.4B



SAN FRANCISCO (AP) - California tax officials say a state proposal to tax and regulate marijuana like alcohol would generate nearly $1.4 billion in revenue. A State Board of Equalization report released Wednesday estimates marijuana retail sales would bring $990 million from a $50-per-ounce fee and $392 million in sales taxes.
The bill introduced by San Francisco Democratic Assemblyman Tom Ammiano in February would allow adults to legally possess, grow and sell marijuana.
Ammiano has promoted the bill as a way to help bridge the state's $26.3 billion budget shortfall.
As the bill is written, the state could not begin collecting taxes under the bill until the federal government legalizes marijuana.
A spokesman says Ammiano plans to amend the bill to remove that provision.



link to article: Calif tax officials: Legal pot would rake in $1.4B

KushBandit

I had just finished ripping a bong, going on a stoned adventure with one of my closest friends, and getting nervous when we say the cops. When I finally got to my friends house and helped him write his paper in for his English class(he is on independent study), I went on this site and saw this article. It boosted my high like crazy hahaha.

Sorry about being off-topic haha.

Anways, my friends and I always talk about how much this state(California) and the US will make because of Marijuana. Prohibition doesn't work. People will get Marijuana if they want it, might as well make some money off of it, makes sense to me.