SUBSCRIBERS

California localities may reap windfall from legal recreational cannabis use

Published Mon, Jun 5, 2017 · 09:50 PM

San Francisco

TWENTY years after approving medical marijuana, Californians come 2018 will be able to consume it for recreational purposes too, and the localities that have reaped the most from legal cannabis sales may be best positioned for what could be a billion-dollar windfall.

Los Angeles, San Francisco, and Alameda counties collected the most in sales taxes from medical marijuana dispensaries last year, according to the state Board of Equalization. The tally doesn't include business taxes that cities assess.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

International

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here