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.
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