Tustin CA Funeral Homes
$20 OFF
Heart-felt tributes to honor a dear friend or loved one who has passed away
220 East Main Street
Tustin, CA 92780
(714) 544-1457
17662 Irvine Boulevard Suite 9
Tustin, CA 92780
(714) 665-0058
Tustin CA Obituaries and Death Notices
Monday, September 19, 2016California shouldn’t be forced to rely on increased marijuana usage to address future K-12 education, infrastructure and other ongoing budget obligations,” he said.Instead, Diane Goldstein of North Tustin – a retired police officer who’s campaigning for Prop. 64 – argued that tax revenue from the measure would be wisely used to offset some financial and social harms of the failed war on drugs via increased investment in education, research and treatment.REVENUE PREDICTIONSRight now, hundreds of pot businesses operating in California – some with local permits and many without – are paying state sales tax of close to 8 percent.In 2015, the state took in $58 million in sales tax revenue from some 974 registered dispensaries, including nearly 400 in Los Angeles County and 70 to 80 each in Orange, Riverside and San Bernardino counties, according to Board of Equalization data.That revenue is on track to nearly double this year.Under Prop. 64, all marijuana sales would be taxed an additional 15 percent starting Jan. 1, 2018, on top of levies on regulated growers of $9.25 per ounce for dry flowers or $2.75 per ounce for leaves. Medical cannabis patients would be exempt from the state sales tax.The independent Legislative Analyst’s Office predicts Prop. 64 state tax revenues would total from the high hundreds of millions of dollars to more than $1 billion each year.That’s less than 1 percent of the state’s annual budget, or about what California brings in annually now from taxes on tobacco products.Keith Humphreys, a Stanford University professor who served on a state commission that studied approaches for legalizing marijuana, summed up the financial impact of Prop. 64 this way: “It’s not going to make us if we do, and it’s not going to break us if we don’t.”Tax revenue from legalized weed would first be used to cover “all reasonable costs” incurred by the state to administer and enforce the recreational cannabis regulations, according to the ballot measure.The Department of Consumer Affairs, which would oversee the new marijuana marketplace if Prop. 64 passes, doesn’t have an estimate yet of those administrative costs, according to spokeswoman Veronica Harms.The much smaller states of Oregon and Washington spend about $6 million and $8 million a year, respectively, on their medical and recreational programs.Colorado, which has the oldest and most robust recreational marijuana market in the nation, is budgeted to spend $16.3 million regulating legal marijuana this fiscal year, according to Robert Goulding, spokesman for the Colorado Department of Revenue.The program “pays it own way,” Goulding noted, with industry taxes, licenses and fees covering administrative costs while helping fund such things as school construction, youth education programs and poison control centers.Still, Prop. 64 opponents, including Orange County Sheriff Sandra Hutchens, say they’re concerned that tax revenue from legal marijuana sales won’t cover harder-to-quantify effects on public safety and health issues.WHAT ABOUT LOCAL BENEFITS?One statewide Colorado levy on pot provides cities with money to use as they choose. That allowed Denver to add $29 million to its general fund budget in 2015, the Denver Post reports.While Prop. 64 doe...
Tustin News
Monday, September 19, 2016California shouldn’t be forced to rely on increased marijuana usage to address future K-12 education, infrastructure and other ongoing budget obligations,” he said.Instead, Diane Goldstein of North Tustin – a retired police officer who’s campaigning for Prop. 64 – argued that tax revenue from the measure would be wisely used to offset some financial and social harms of the failed war on drugs via increased investment in education, research and treatment.REVENUE PREDICTIONSRight now, hundreds of pot businesses operating in California – some with local permits and many without – are paying state sales tax of close to 8 percent.In 2015, the state took in $58 million in sales tax revenue from some 974 registered dispensaries, including nearly 400 in Los Angeles County and 70 to 80 each in Orange, Riverside and San Bernardino counties, according to Board of Equalization data.That revenue is on track to nearly double this year.Under Prop. 64, all marijuana sales would be taxed an additional 15 percent starting Jan. 1, 2018, on top of levies on regulated growers of $9.25 per ounce for dry flowers or $2.75 per ounce for leaves. Medical cannabis patients would be exempt from the state sales tax.The independent Legislative Analyst’s Office predicts Prop. 64 state tax revenues would total from the high hundreds of millions of dollars to more than $1 billion each year.That’s less than 1 percent of the state’s annual budget, or about what California brings in annually now from taxes on tobacco products.Keith Humphreys, a Stanford University professor who served on a state commission that studied approaches for legalizing marijuana, summed up the financial impact of Prop. 64 this way: “It’s not going to make us if we do, and it’s not going to break us if we don’t.”Tax revenue from legalized weed would first be used to cover “all reasonable costs” incurred by the state to administer and enforce the recreational cannabis regulations, according to the ballot measure.The Department of Consumer Affairs, which would oversee the new marijuana marketplace if Prop. 64 passes, doesn’t have an estimate yet of those administrative costs, according to spokeswoman Veronica Harms.The much smaller states of Oregon and Washington spend about $6 million and $8 million a year, respectively, on their medical and recreational programs.Colorado, which has the oldest and most robust recreational marijuana market in the nation, is budgeted to spend $16.3 million regulating legal marijuana this fiscal year, according to Robert Goulding, spokesman for the Colorado Department of Revenue.The program “pays it own way,” Goulding noted, with industry taxes, licenses and fees covering administrative costs while helping fund such things as school construction, youth education programs and poison control centers.Still, Prop. 64 opponents, including Orange County Sheriff Sandra Hutchens, say they’re concerned that tax revenue from legal marijuana sales won’t cover harder-to-quantify effects on public safety and health issues.WHAT ABOUT LOCAL BENEFITS?One statewide Colorado levy on pot provides cities with money to use as they choose. That allowed Denver to add $29 million to its general fund budget in 2015, the Denver Post reports.While Prop. 64 doe...
