Good luck with that plan California.
You're legally allowed to grow 6 plants and entrepreneur hippies will grow huge weed bushes and undercut your price.
Better money than Starbucks...
Posted on 11/05/2017 7:37:00 PM PST by BenLurkin
On a retail level, it costs about $35 to buy a small bag of good quality medical marijuana in Los Angeles, enough to roll five or six joints.
But in 2018, when recreational sales take hold and additional taxes kick in, the cost of that same purchase in the new market is expected to increase at the retail counter to $50 or $60.
Medical pot purchases are expected to rise in cost too, but not as steeply, industry experts say.
Or consider cannabis leaves, a sort of bottom-shelf product that comes from trimming prized plant buds. The loose, snipped leaves are typically gathered up and processed for use in cannabis-laced foods, ointments, concentrates and candies. Growers sell a trash bag stuffed with clippings to manufacturers for about $50. But come January, the state will tax those leaves at $44 a pound.
That means the tax payment on a bag holding 7 or 8 pounds would exceed the current market price by five or six times, forcing a huge price hike or, more likely, rendering it essentially valueless.
“All it would become is compost,” predicted Ryan Jennemann of THC Design in Los Angeles, whose company has used the leaves to manufacture concentrated oils.
...
Come January, state taxes will include a 15% levy on purchases of all cannabis and cannabis products, including medical pot.
Local governments are free to slap on taxes on sales and growing too, and that has created a confusing patchwork of rates that vary city to city, county to county.
In the agricultural hub of Salinas, southeast of San Francisco, voters approved a tax that will eventually rise to $25 a square foot for space used to cultivate the leafy plants, a rate that’s equivalent to about $1 million an acre.
(Excerpt) Read more at latimes.com ...
Har de har har. The irony is delicious.
No matter what it is, it's always about government can skim (or chop) off the top.
The black market would like to thank greedy politicians.
The lefty govt giveth until the lefty govt taketh. Can one say black market or is that a racist term?
Good luck with that plan California.
You're legally allowed to grow 6 plants and entrepreneur hippies will grow huge weed bushes and undercut your price.
Better money than Starbucks...
Taxing the s#!+ out of s#!+...
GYOG. Grow your own grass.
I wonder how many joints that plant could make?
Patently obvious why the government desires marijuana to be legal.
Becky could probably tell you, but she died snorting marijuanas.
Hippies addicted to pot voting in DemoRat pols addicted to taxes. Up In smoke goes the greens.
Now they’ll have to get a $15/hr job to keep up their weed consumption...
Californians will just start growing their own, or buy on the (inevitable) black market.
Washingon state taxes pot at 37%, yet it still managed to collect over $250M in taxes from over $600M in recreational sales in 2016. It’s already surpassed those numbers in 2017.
They’ll just buy it on the black market for cheap. In the meantime, Marijuana legalization will provide cover for black market sales.
Which government legalized pot? I am only aware of states where it won on ballot initiatives.
How do you explain the hundreds of millions in tax revenues that CO and WA are pulling in a year on sales in the billions?
That’s a big chunk of the market.
Should that also be deductible?
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