California’s low marijuana tax stream complicating MJ business climate

 

CALIFORNIA CANNABIS CPA

Helllo! Just a quick mid-week update from our experts – and a friendly reminder that Culver City applications are due today.

Today’s Top News

Applying for a cannabis business permit is expensive and time-consuming. And, without a solid lease or property for your cannabis business, your application is virtually guaranteed to be rejected. So, how can you find a space for your business and make sure you get licensed to open? Our experts weigh in.

Read moreHow to Find Real Estate for Your Cannabis Business

If you are applying for a license in Culver City, applications are due today, Wednesday, May 9.

Need help getting your cannabis tax return prepared? Get in touch with our team today to see how we can work together.

All the best,

The California Cannabis CPA Team

 

LOS ANGELES

Escape from Los Angeles: Marijuana businesses leave as city struggles to roll out legal market

 

SANTA BARBARA COUNTY

Title: Voters will be asked to approve cannabis taxes in June primary

Author: Santa Maria Times

Date: 7 May 2018

URL: https://santamariatimes.com/news/local/voters-will-be-asked-to-approve-cannabis-taxes-in-june/article_089b0010-454c-5161-b75c-394552933a8f.html

Extract: 

Voters in the June 5 primary will be asked to approve a tax on cannabis operations that could shore up Santa Barbara County’s sagging budget, helping to retain a variety of community services, as well as provide funds needed to pay for enforcement action against illegal marijuana operations.

County staff has estimated tax authorized by Measure T will pump between $5 million and $25 million into county coffers every year.

Proponents say the tax should be approved to ensure compliance with the county cannabis regulations and eliminate the black market that will try to operate outside those laws. As a general tax, it only requires a majority vote to pass, or 50 percent plus one vote.