Medical Cannabis

Huntington Beach and Laguna Woods residents to decide on cannabis tax initiatives

A mature marijuana plant begins to bloom under artificial lights at Loving Kindness Farms in Gardena, Calif., May 20, 2019. (AP Photo/Richard Vogel, File)

HUNTINGTON BEACH, Calif. — A couple of County cities weigh whether to adopt an ordinance to tax cannabis businesses if – or when – they come into their towns.


What You Need To Know

  • Two Orange County cities have cannabis tax initiatives just in case those types of businesses come into their towns
  • Voters in Huntington Beach and Laguna Woods will decide whether to add a 6% or 4% to 10% tax on cannabis retailers, respectively
  • The money generated from the tax will go straight to the city coffers
  • Currently, Huntington Beach and Laguna Woods prohibit cannabis business operations

Laguna Woods will ask voters in November to set the framework for taxing cannabis businesses if the city allows it in the future.

Measure T, the Cannabis Business Tax ordinance, would tax cannabis businesses 4% to 10% of gross receipts or $5 to $35 per square foot for retail operations; and 1% to 10% of gross receipts or $1 to $35 per square foot for other types of businesses, such as delivery, manufacturing, etc.

Once passed, the city council would ultimately select the specific tax rate.

Laguna Woods currently prohibits many cannabis businesses.

To Read The Rest Of This Article By Joseph Pimentel on Spectrum 1 News

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Published: October 07, 2022

The post Huntington Beach and Laguna Woods residents to decide on cannabis tax initiatives appeared first on L.A. Cannabis News.

Content Source: https://lacannabisnews.com/huntington-beach-and-laguna-woods-residents-to-decide-on-cannabis-tax-initiatives/

Sally Anderson

Sally is a Masters in Business Administration by education. After completing her post-graduation, Sally jumped the journalism bandwagon as a freelance journalist. Soon after that she landed a job of reporter and has been climbing the news industry ladder ever since to reach the post of editor.

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