Lawmaker Wants 15 Percent Sales Tax On Medical Marijuana
State Sen. Mike McGuire, D-Healdsburg, says his bill would generate $100 million a year to help cover the costs of regulating the cannabis industry.
The Press Democrat:
Sen. Mike McGuire Floats Bill To Increase Sales Tax On Medical Marijuana
State Sen. Mike McGuire, D-Healdsburg, introduced legislation Wednesday that would establish a 15 percent statewide sales tax on medical marijuana, a move he said was needed to help cover local government costs to control the booming cannabis industry. The tax would be in addition to the existing sales tax — roughly 8 percent on goods and services — and is expected to generate more than $100 million a year, with a 30 percent share available to cities and counties for costs associated with medical cannabis. (Kovner, 2/10)
The Associated Press:
Excise Tax On Medical Marijuana Sales Proposed In California
A state senator from Northern California has introduced a bill that would impose a 15 percent tax on retail sales of medical marijuana. Sen. Mike McGuire estimated that the excise tax he proposed Wednesday would bring the state over $100 million annually. The Healdsburg Democrat's SB987 directs 30 percent of the revenues collected to the new state agency charged with enforcing the new medical marijuana licensing regulations the Legislature approved last year. (2/10)