TAX

 

Title: California To Tax Pot As Much As 45%

Author: Money CNN

Date: 31 October 2017

URL: http://money.cnn.com/2017/10/31/news/economy/california-cannabis-tax-fitch/index.html

Extract: High effective tax rates on California cannabis may complicate the state’s efforts to establish legal markets” said analysts Stephen Walsh and Karen Ribble in a Fitch Ratings report on California’s marijuana taxes.

 

 

Title: Sacramento audit finds pot dispensaries under-report taxable revenue, other violations

Author: Sacramento Bee

Date: 31 October 2017

URL: http://www.sacbee.com/news/state/california/california-weed/article181805796.html

Extract:  Medical marijuana dispensaries in Sacramento are under-reporting revenue to tax collectors and failing to comply with city operating requirements, according to an audit that will be discussed at Tuesday’s City Council meeting.

The critical audit comes as some of the city’s 30 dispensaries are ramping up to sell pot to recreational users on Jan. 1, when state law allows sales of non-medical marijuana to begin.

Before that can happen, however, dispensaries will have to prove they are not in violation of local regulations, as some were in the report issued by the Office of the City Auditor, said the city’s pot czar, Joe Devlin.