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A $1 per pack tobacco tax initiative is trailing by a slim margin today with more votes still to be counted.

With 100 percent of precincts reporting, 50.8 percent opposed Proposition 29 and 49.2 percent supported it. The gap is hovering around 63,000 votes out of 3.8 million cast.

Too close to call Wednesday morning, the fate of Proposition 29 will be determined in coming days by the counting of perhaps hundreds of thousands mailed-in, dropped-off or provisional ballots received on election day.

The initiative had an early lead Tuesday evening based largely on mail ballots returned before Election Day. But fueled by nearly $47 million in contributions, mostly from the tobacco industry, opponents blanketed the state with ads that steadily dropped support over the last few weeks.

Both sides expected a late night of counting and the possibility that the outcome would not be known well beyond midnight, if not beyond Wednesday.

MORE ELECTION 2012 COVERAGE

Vote results: Customize your view

Voter guide: The candidates

Bee endorsements



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