2020 Recap: Money grows on weed

Where was there continual shock and awe for revenue this year? Cannabis. COVID left revenue holes and  COVID funds are funding new and diverse programs from buying hotels for homeless, county fairs, event planners, restaurants and small business relief, grant programs, property tax relief grants, and PPE buying programs. Legislatures are taking control over Governors who overstepped. Voters are expanding the taxation of recreational drug use.

I don’t want to call new taxes innovative. So, let’s say the tax people got creative, maybe they ingested some of the cannabis that is now readily available to test the tax system. Here’s the new taxes they came up with:  taxing IP revenue, collecting back taxes from online sales, streaming services, and Zoom.