Yet another California county is looking to cash in on the potential “green rush” if voters approve the ballot measure to legalize recreational cannabis use in November.
Solano County supervisors have approved a measure to place a tax on gross receipts of all marijuana-based businesses on the upcoming ballot. Under current ordinances, the county does not allow cannabis operations in unincorporated areas. The county’s largest city, Vallejo, has 10 legal dispensaries which are subject to a 10 percent tax under current law. Those dispensaries generated more than $965,000 in revenue for the city between Sept. 20, 2015 and June 30, according to a report from the Daily Republic.
If voters pass the Adult Marijuana Use Act, the county board would have to establish regulations for potential commercial and medical operations. During the meeting, board members were urged to not apply the tax to medical marijuana dispensaries.
The proposal would levy a 15 percent tax on cannabis businesses in the county; however that rate, along with whether or not the tax would apply to medical dispensaries, still needs to be finalized by the board before the final ordinance is proposed.
According to a February poll from Probolsky Research, nearly 60 percent of Californians are in favor of Proposition 64.
Get daily cannabis business news updates. Subscribe
End
