Tax-Exempt Medical Marijuana Sales in California Now in Effect
California is celebrating its first ever tax exempt sales of medical marijuana. The new law, which took effect at midnight, exempts patients with county issued identification cards from paying sales tax.
The Board of Equalization surprised dispensaries and pundits alike last week, issuing their interpretation that certain sales would become tax-exempt under this new law. Patients have much to be happy for today, but the potential to save 9.5% in sales tax on each transaction is of top importance.
“Medical marijuana has long been a costly, yet essential, part of our members health care routines,” says Debby Goldsberry, Executive Director of Magnolia Wellness. “With this new law, marijuana will finally start to be treated like any other medicine. Sales tax exempt marijuana is a great start. Now, let’s get the rest of the law implemented, so more people are protected from arrest and this safe medicine can be distributed without fear.”...
This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.
Follow us on Instagram
Connect with us on Linkedin