Allowing State Bankruptcies, Medical Marijuana Tax Revenue, Estate Tax Murders November 29, 2010 Joseph Bishop-Henchman Joseph Bishop-Henchman Interesting articles I came across today: Newly elected Republican governors meet to discuss budget cut strategies. Colorado raises $2.2 million with its sales tax on medical marijuana. Rhode Island Governor-elect Lincoln Chafee's plan to impose a 1% sales tax on currently exempt items would raise $121 million, much more than originally expected. Michael Barone at National Review (subscribe) argues that the federal bankruptcy code should be amended to allow states to reorganize their finances under its "cram-down" provisions. We're about a month away from the estate tax coming back to life, and the macabre incentive it gives to relatives of the dying. Stay informed on the tax policies impacting you. Subscribe to get insights from our trusted experts delivered straight to your inbox. Subscribe Share Tweet Share Email Topics Excise Taxes Individual and Consumption Taxes Marijuana Taxes