The initiative would establish 10% tax on the gross receipts of businesses that grow or sell cannabis. This tax would apply to medical cannabis sales, but would also apply to recreational cannabis sales if voters approve the Adult Use of Marijuana Act this November. That initiative would legalize the possession and licensed distribution of cannabis for everyone 21 and older.
According to estimates, the tax is projected to raise between $78 million to $130 million annually.
The post Los Angeles County Lawmakers Vote to Help Homeless with Cannabis Tax appeared first on TheJointBlog.
Read this full story…..: Los Angeles County Lawmakers Vote to Help Homeless with Cannabis Tax