tax collections on marijuana

Should Cannabis Entrepreneurs in California be Worried about Tax Man?

The legal cannabis industry in California is expected to include everybody: store front sellers, backyard growers, dealers offering marijuana for sale online and the farm belt as well. Meanwhile, California state tax collectors are making the initial moves to get a hand into this increasingly growing industry. The state treasury seeks to benefit from the billions of dollars that are at stake in California’s future. State analysts estimate that both the local and state governments may end up collecting more than $1 billion per year from the manufacturing and sale of legitimate marijuana. Still, no one can tell how big this industry will become. For the state, there is no sure way of predicting the number of retailers that will join the market place as the business kicks off in the coming months. However, it is estimated that cultivators could be to the tune of 25,000. These will be required …

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