Explain Tax Revenues | The SandPaper


Gail Travers
July 07, 2021

To the Editor:
I enjoy Councilwoman Davis’ attempt at an rationalization with regards to Seaside Haven turning out to be the marijuana haven on LBI (“Think Rationally,” 6/23). Her letter still shirks the problem, nevertheless, of where the alleged $50,000 a thirty day period in tax revenues the borough will receive from the sale of cannabis comes from.
She has regularly quoted that number, as if it is supported in actuality. If it is supported in fact, the citizens of this city have a suitable to know the place that range comes from to make an informed selection about this critical situation. She must have executed a analyze, or at the very least taken a survey, to determine the actual volume of cannabis consumption by household vacationers to Beach Haven. If that range has been pulled from a hat by our esteemed councilwoman, the citizens have earned to know that, as well. Does she foresee $50,000 a month from the New Jersey state gross sales tax?
At the recent New Jersey income tax amount of 6.625%, a lawful cannabis merchant would have to sell around $750,000 well worth of marijuana for every thirty day period from his or her “non-storefront supply service” in Beach front Haven to generate $50,000 in tax income. That’s $9 million of marijuana gross sales for each yr! This $750,000 regular revenue figure need to be fulfilled just about every and each and every month, such as through the off-period, when Seashore Haven’s population returns to regular. Can the locals order and consume $750,000 worthy of of marijuana every single and just about every month? Probably most importantly, the borough does not get the 6.625% product sales tax. The state does!
The majority of voters on LBI may perhaps have approved legislation generating marijuana authorized in New Jersey, but the bottom line is individuals may possibly want it, just not in their backyard, as most towns have possibly banned the sale and manufacture or are in the system of performing so. If Beach front Haven’s big tax windfall of $50,000 for each thirty day period is, in actuality, supported and not built up, why are not the other cities up and down the Island scrambling to experience the same fiscal added benefits? A little something does not increase up right here.
I post that it is Ms. Davis who is not “thinking rationally.” I would go as far as to say that she is not currently being simple or honest.
Helen Fadini
Seashore Haven

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