Voters may be asked to impose a local tax on the industry in November
San Francisco ushered in a new era of legal recreational cannabis this year. Now voters may be asked to impose a local tax on the industry in November.
Supervisor Malia Cohen on Tuesday introduced a cannabis tax that would begin levying a 2 percent tax on cannabis gross receipts beginning January 1, 2020.
In subsequent years, the tax would grow to 2.5 percent for retail cannabis sales up to $1 million in gross receipts and 5 percent for gross receipts above $1 million.
Also in subsequent years, there would be a 2 percent tax on cannabis business other than retail for gross receipts up to $1 million and a 3 percent tax on gross receipts in excess of $1 million.
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