We did it! Oakland residents voted Tuesday and overwhelmingly approved a first-of-its kind tax on medical marijuana! So far preliminary results show that Measure F passed with 80% of the vote, says the Alameda County Registrar of Voters.
Measure F is scheduled to take effect at Oakland’s four cannabis dispensaries on New Year’s Day. Currently, a special business tax rate for all those dispensaries is set at $1.20 for every $1,000. The new rate will boost that to $18. According to Oakland’s auditor it will generate an estimated $294,000 for Oakland based on last year’s annual sales of $17.5 million worth of weed.
“It’s good business and good for the community,” said Richard Lee, who owns the famous Coffee Shop SR-71 dispensary and Oaksterdam University. What would be even better for business and the community alike would be if the rest of the dispensaries in California follow suit…say, like the 800 or so dispensaries currently operating in the Southern California area.
Supporters of the Legalization Movement feel this is a huge leap forward to legitimizing, regulating, and legalizing marijuana.