CA Cannabis Clubs Offer to Raise Taxes

1232477-TaxStampGovernor Schwarzenegger declared a statewide fiscal emergency in California last week since legislators failed to agree on a budget. To pitch in and help poor California dig ourselves out of a staggering $24 billion deficit dispensaries over in Oakland have a radical idea…they’re offering to pay increased taxes!

Cannabis is this country’s largest cash crop doing a whopping $36 Billion a year. That shit rakes in more cash than corn and wheat combined. Just last year Oakland alone sold more than $20 Million worth of medical cannabis. Currently those dispensaries are paying a minimum tax of $1.20 for ever $1,000 of weed sold.

But get this, those compassionate dispensaries are pushing the envelope of compassion by offering to raise those tax rates to 18 bucks for every $1,000 of weed sold. The marijuana tax, which voters will be asked to endorse in a ballot this month, would bring in about $400,000 of annual revenue in Oakland alone. If adopted statewide, the taxes could be worth billions. Stay tuned as the results of the ballot will be announced on July 21.



Leave a Reply