4 ms·

If $70 million isn't a "big new revenue source" then what is? Have there been recent tax changes in any other states that have surpassed this?

• cjensen 11y ago
  Sure: California recently increased it's sales tax by 1%. Sales Taxes are 30% of the California budget, so that equates to a 3% change in revenue. That's more than 10X the revenue generation of Marijuana Taxes.
  • ac29 11y ago
    >California recently increased it's sales tax by 1% If by "recently" you mean 2009, then yes. However that went back down in 2011. CA State sales taxes have been within ± 0.5% of 7.75% since 1991 (aside from a 1 year dip to 7%) [1]. [1] https://www.boe.ca.gov/sutax/taxrateshist.htm https://www.boe.ca.gov/sutax/taxrateshist.htm
  • dragonwriter 11y ago
    > Sure: California recently increased it's sales tax by 1%. Presumably, you are referring to the 1% temporary 2009-2011 boost during the budget crisis, from 6.25% to 7.25% > Sales Taxes are 30% of the California budget, so that equates to a 3% change in revenue. All other things being equal, assuming 30% of the budget is sales tax before the increase, a 6.25% to 7.25% increase in sales taxes is closer to a 5% overall increase in revenue.
• mzs 11y ago
  It is, another example is the cloud tax in Chicago, $12,000,000.00/yr projected.