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

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CA marijuana legalization snafu means tax holiday for MMJ firms is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs