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California lawmakers propose 15 percent marijuana sales tax

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Submitted by Marijuana News on Thu, 02/11/2016 - 09:09

California would levy a new 15 percent tax on medical marijuana sales to enforce new regulations and pay for state programs, rehabilitation and parks under a bill introduced Wednesday.

The Marijuana Value Tax Act could bring the state more than $100 million in new revenue. The tax was anticipated after the state passed historic regulations last year that requires state and local licenses for medical marijuana businesses under the new Bureau of Medical Marijuana Regulations.

“Now that there is a long overdue regulatory framework put into place, it’s time to help fund the areas that are most affected by the cultivation - those communities that have long been paying the price of the negative effects of cultivation brought on by the ‘bad actors’ who destroy the environment and bring in crime,” Sen. Mike McGuire, D-Healdsburg, who authored SB987 and parts of last year’s marijuana regulations, said in a...

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