skip to Main Content
California Medical Marijuana Cardholders Catch Huge Tax Break Through 2017

Benjamin Franklin said that taxes, like death, are one of life’s few certainties. But due to a glitch in the technical language of California’s successful marijuana legalization initiative, the state’s pot smokers may prove him wrong.

California’s marijuana legalization initiative is designed to raise significant tax revenue for the state. When legal recreational marijuana sales commence on Jan. 1, 2018, the initiative applies a 15 percent excise tax on recreational and medical marijuana, as well as some taxes on marijuana producers based on the weight of each plant grown. The state’s 7.5 percent sales tax is tacked on top of that for recreational marijuana, but the ballot proposition repeals that tax for medical marijuana. The idea was to give medical marijuana users a tax break relative to recreational users once the initiative’s new taxes begin in 2018. But because the Jan. 1, 2018, target date was omitted in the relevant subsection of the 62-page initiative, the medical marijuana sales tax elimination instead became effective this week when the measure passed. [Read more at Washington Post]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

US Marijuana Industry Hits All-Time High

The legal cannabis industry is thriving in the U.S., reaching its highest-ever number of jobs and sales, a new report shows. Vangst, a cannabis industry job platform, found that at…

Black market marijuana tied to Chinese criminal networks infiltrates Maine

Maine is the newest frontier for the illicit marijuana trade, with potentially hundreds of suspected unlicensed grow houses operating in the state, a CBS News investigation has found. It’s part…

Iowa’s medical marijuana program is 10 years old. How does it compare with other states?

Ten years ago this month, Iowa policymakers made it legal to use cannabis for certain medical treatment, marking the start of what would eventually become Iowa’s existing medical cannabidiol program.…

Is Remediation Safe?

By Tom Hymes Remediation in the cannabis industry has become an increasingly hot topic as the practice has expanded in legal markets throughout the country, and for good reason. Remediation…

More Categories

Back To Top
×Close search
Search