California Pot Tax

In the state of California today, voters will get a chance to vote on a measure which would allow the state to tax marijuana dispensary $50.00 for every $1,000.00 they are able to generate.  The tax is believed to bring in about $10 million dollars to the state which could help to pay for basic needs like funding the police, fire and for other essential services.  It will be interesting to see if this measure passes or not.  If so it could pave the way for the legalization of marijuana in the state in the next election.

Debit card tax refund

The US Treasury department is going to hand out tax refunds this year on prepaid debit cards to low income taxpayers who don’t have a bank account.  Its a new pilot program.  The Treasury department is going to send out some 600 k letters to households asking them if they want to take part in the pilot program.

For those without bank accounts, the debit cards will allow them to avoid check-cashing fees or costly refund anticipation loans and checks. Direct deposit is also faster. It takes 10 days or fewer for the IRS to process a tax return and deposit a refund electronically. A mailed paper check may not reach a taxpayer for up to six weeks.

I live this idea and hope it works out.  It is nice to see some progressive thinking finally kicking in.