Taxes, Tax Revenue | featured news

If marijuana is legalized and properly regulated, its proponents have long said, it could generate millions of dollars in state tax revenue. But how the drug should be taxed has proved to be a thorny question.

College students clash with administrators over steeply rising tuition. Public employees shut down statehouses amid cuts to pay and retirement benefits. Teachers and social welfare advocates protest budget cuts. Lawmakers struggle to cope with sharp declines in tax revenue.

Indiana's state government has discovered $320 million in funds it didn't know it had, money that officials stumbled across while enacting statewide belt-tightening measures.

Tax income has been outpacing forecasts — good news as Sacramento struggles with a $15-billion budget deficit. GOP leaders are already using it as fodder against Gov. Brown's proposed tax increases.

Officials say measures to shut down offshore tax havens would bring the government $210 billion over the next decade in otherwise lost tax revenue.