[420 Girl]

--------------------------------------------------------------------------------

Three Oakland city council members have proposed raising the business tax rate on medical marijuana sales to $12 or $24 per $1,000 of gross receipts. The current rate is $1.20.

The council members, Rebecca Kaplan (at-large), Nancy Nadel (district 3), and Jean Quan (district 4), said in an agenda report that the move would bring in an additional $200,000 to $400,000 in annual revenue.

Richard Lee, president of Oaksterdam University, an Oakland-based trade school for the cannabis industry, said that he has been working with the city council on this proposal. He also said the industry is fully behind it.

“We believe we should be paying more taxes, and we want to help the city more in its economic crisis,” Lee said.

He also said that the taxes should extend beyond the cannabis clubs and be applied to suppliers, and nurseries. Lee estimates that medical marijuana in Oakland is a $20 million industry, and that further taxing will help further legitimize it.

The council members could not immediately be reached for comment.


http://www.420magazine.com/forums/in...-tax-rate.html