California yes the State of mind on the west cost maybe in their never ending quest of feeding the never ending hunger of a State Goverment that needs to go on a diet could be killing Hemp industry that is now employing thousands if not tens of thousands investing countless millions in new business new tech research and paying a great deal in taxes.
What am I taking about?
From Mary Jane.com 6/6/16
Senate Bill 987 Imposes an Additional 15% Sales Tax
Last week, lawmakers in the California Senate voted overwhelmingly to approve imposing a 15% sales tax on medical marijuana, passing the measure by a 27-10 vote on June 1. The bill, Senate Bill 987, now heads to the Assembly for consideration.
In order to pass the Senate, lawmakers used creative wording to circumvent the state constitution, which requires all tax bills to pass with a two-thirds majority vote. Prior to the floor vote in the Senate, the bill was amended to replace the word “tax” with “user fee.”…”
Assembly Bill 2243 Imposes a $9.75/oz Cultivation Tax
In addition to Senate Bill 987, lawmakers in the Assembly passed separate legislation, Assembly Bill 2243. A bill designed to impose a new $9.75 per ounce tax on the cultivation of all medical marijuana. At current wholesale prices of approximately $1,500 per pound, this equates to a 10% tax on the overall value of marijuana, according to the National Organization for the Reform of Marijuana Laws (NORML). If imposed, this tax will likely be passed on directly to medical marijuana patients by incorporation into wholesale pricing.
The Assembly passed the bill by a vote of 60-12 on June 2 ….”
Wow well the State needs money bad the budget running in the red Companies citing the high taxes high fees and horrific regulations are fleeing to other states, and this will likely continue in every sector many are preparing to flee as the $15.00 HR Min wag law will be going into effect and now the above maybe going to effect soon.
Prices of medical marijuana could get so high that users may be forced to seek their needed help elsewhere, a state who would allow CA medical marijuana cards to be used might see a flood of new customers seeking the help they need at prices they can afford.
Perhaps some will seek the underground market risking arrest to get the help they need.
One thing we will see is less investment in tech and starting new companies in a State that is taxing them to death. Instead they will invest in one or more of the 24 other states that may tax them but not a a rate I can only call a rape of profit, but that is California someone has to pay for the High speed Train no one will ride and the benefits for the workers losing jobs due to the over the top minimum wage Ungodly taxes, fees and regulation.
Perhaps we will see saner leadership stop the over taxing of medical marijuana before California becomes the first state to drive the Hemp Industry out only time will tell and this is why we need to pay attention to what is going on and VOTE