Production, Taxation and Sale of Legalized Marijuana
Document Type
Oral Presentation
Campus where you would like to present
SURC Ballroom B/C/D
Start Date
21-5-2015
End Date
21-5-2015
Keywords
Marijuana, Economics, Tax
Abstract
In this modern era, we are faced with a dilemma. Due to outdated and archaic legislation and policy, money that is being generated by legal marijuana producers in Oregon, Colorado, and Washington cannot legally enter the fiscal stream. This is due to states legalizing the production and sale of marijuana, but federal legislation prohibits banking institutions from accepting this legalized cash flow. In addition to this, the criminal status of marijuana and the ensuing tax code law creates several massive negative externalities at the local, state, and federal level. There is a massive disconnect between what the federal government is saying, what the state governments are doing, and a power struggle happening between the federal and state government agencies. This needs to be resolved in a timely and efficient manner to resolve the externalities and begin proper taxation and efficient revenue collection at all levels.
Recommended Citation
Reid, Curtis, "Production, Taxation and Sale of Legalized Marijuana" (2015). Symposium Of University Research and Creative Expression (SOURCE). 119.
https://digitalcommons.cwu.edu/source/2015/posters/119
Poster Number
67
Department/Program
Environmental Studies
Additional Mentoring Department
Political Science
Production, Taxation and Sale of Legalized Marijuana
SURC Ballroom B/C/D
In this modern era, we are faced with a dilemma. Due to outdated and archaic legislation and policy, money that is being generated by legal marijuana producers in Oregon, Colorado, and Washington cannot legally enter the fiscal stream. This is due to states legalizing the production and sale of marijuana, but federal legislation prohibits banking institutions from accepting this legalized cash flow. In addition to this, the criminal status of marijuana and the ensuing tax code law creates several massive negative externalities at the local, state, and federal level. There is a massive disconnect between what the federal government is saying, what the state governments are doing, and a power struggle happening between the federal and state government agencies. This needs to be resolved in a timely and efficient manner to resolve the externalities and begin proper taxation and efficient revenue collection at all levels.
Faculty Mentor(s)
Rex Wirth