Good News For California Marijuana Cultivators

May 17, 2016

 

This is an exciting time for San Diego marijuana cultivators who want the marijuana cultivation ban to end. New regulations that will be proposed in November will determine whether to approve recreational use now that supporters have collected enough signatures to get it on the ballot. State agencies will have the authority to control marijuana cultivation and the water, wild life, and other environmental concerns will also be synchronized through regulatory policies. Marijuana cultivation will be looked at like any other agricultural crop and the initial deregulated system will now have licensing, inspections, and legal requirements that will make growers take the environment into consideration when managing the production. The California market is huge and it is said to be $10 - $30 billion-dollar industry.

 

Water division among growers poses problems and farms around California have dried up streams and water sources that have negative effected the environment. Environmentalists say that we will need $25 million a year to regulate cannabis cultivation practices and enforce environmental regulations and more than $100 million a year will be needed for the first five years in order to clean up the damage and restore the land. If the ballot is approved, then California would add a 15% retail sales tax on marijuana, $9.25 per ounce of flowers cultivated, and $2.75 charge per ounce of leaves. Tax revenues could bring in as much as $200 million per year in the enclosed taxes alone.  

Please reload

Featured Posts
Please reload

Archive
Please reload

Search By Tags

© 2015 by Cannabis Tax and Accounting Services