CA marijuana legalization snafu means tax holiday for MMJ firms
An omission in the language of California’s recently approved adult-use marijuana ballot initiative has resulted in a sales tax holiday for medical cannabis businesses through the end of 2017.
The snafu means medical marijuana users don’t have to pay the existing 7.5% sales tax, which could give MMJ businesses more pricing flexibility and a bump in sales.
The initial thinking behind Proposition 64 was to give medical marijuana users a tax break versus recreational consumers once the initiative kicked in come 2018, according to the Washington Post.
But the Jan. 1, 2018 start date was left out