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01-23-2010, 12:25 AM #1Member
NM Senator Proposes Medical Pot Tax
and in addition (:-)) no doubt not a nickle of it will go to the DOH funding for the MCP , which is why I prefer the idea of increasing the renewal fee to 5 k after the first year as mentioned in a previous discussion
Pretty pie in the ski numbers too, with NM being one of the poorest states in the county, I'd like to see where the 5-20 million bucks is coming from, unless they tax it at 500%.
Somebody isn't too good at math, with each producer only allowed 95 plants under state law, this politician seems to think we're a collective state, where we have hundreds of people growing hundreds of pounds and where anybody with a headache can get a card. He should pack it up and move it to california
let's do some dispensary math...
95 plants
let's say we are all masters at marijuana botany and zero waste(Ha!)..every drop of material is worth $400 an oz(HA!). we get an amazing 8 oz per plant(Ha!$!)
5 crops a year (HA!) 3-4 if you are a master
(95*8*5)* 400=1.52mil
one million five hundred and twenty thousand in GROSS sales per dispenser * 20 dispensers = this ridiculous number ( five million or so) @ a 25% tax rate on gross sales. That's assuming of course that all 20 dispensers hit home runs on production and the poorest state in the country can buy 30 million in meds at retail ( double ha)
now we all know those numbers are totally unreal
Let's get a better-er number....
(95*2*4)* 400=304K
304k a year in gross sales..* 20 dispensers=6 million in gross sales
knock out allowable expenses and you're looking at 4 million in net sales
Since NM is a non-profit state, taxing MMJ at that rate simply takes the money way from needy charities and will likely discourage marginal producers from staying in business if they can't make expenses.
As it is, charging grt tax is fair and equitable, I don't expect a 25% tax on ANYTHING I purchase.
Just the silliest thing I've every heard. If you ask me, it's a move to DISCOURAGE the program or gain votes. I'm not feeling too great today or I'd research this some more
Write or call this Senator and let him know where you stand
Make a clear and valid argument for the best effect and make sure to check your "spillin"
Here's what my typical politico phone call would sound like..
Hi, my name is "x", I am a registered voter in "y" and my "z" is a registered MCP patient. I would hope you would do research on the actual MCP and Statewide logistics before you would push for this excise tax on something that most people on disability would be paying for.
I might suggest if you are interested in raising state revenues you ( insert your favorite pet peeve of New Mexico here) raise the costs of car registrations and drivers licenses for people convicted of the crime of DWI to a more significant amount (suggest 10-50x the current fees), since law enforcement is spending a tremendous amount of taxpayer money to arrest and prosecute these violators. Taxing Medical Cannabis would be like adding a 25% tax to Nexium or other important quality of life medications.
I can assure you that you won't get my vote next time around if this legislation passes.
Thanks for taking a moment to hear what I had to say. I know voter feedback is important in determining which legislation you will spend your time on.
Capitol Phone: (505) 986-4371 (btw, this number has been busy all day today)
Home Phone: (505) 765-5662
E-mail: john.sapien(at)nmlegis.govpatient4200 Reviewed by patient4200 on . NM Senator Proposes Medical Pot Tax Senator Proposes Medical Pot Tax By Dan Boyd Journal Capitol Bureau SANTA FE - Tobacco, alcohol, candy and soft drinks aren't the only products being eyed by New Mexico legislators as possible tax targets. Sen. John Sapien, D-Corrales, has introduced a pair of proposals to tax medical marijuana, arguing that cannabis should be treated like any other commercial product. "We need to get into a point of realism with medical marijuana as a mainstream item," Sapien said Rating: 5
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