Marijuana, Tobacco Taxes Could Bring $2 Billion (or More) to California
Smoking marijuana or tobacco could come at a heftier price after November in California. (Photo: Thinkstock)
California voters will be asked in November whether or not the state should levy new taxes on two 'sins' -- tobacco and marijuana use.
Often referred to as 'sin taxes,' an excise tax on a good that's considered harmful is intended to curb the use of that good by increasing its cost to the consumer.
For Californians in November, will weigh whether tobacco should have a higher tax rate and if marijuana should be legalized and taxed? If voters approved the two measures, Props. 56 and 64 respectively, the measure have the potential to bring $2 billion in tax revenue to the state, according to the Legislative Analyst's Office.
Read Prop. 56's (tobacco) analysis HERE
Read Prop. 64's (marijuana) analysis HERE
Most of the revenue would come from the $2 per pack tax on...
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