The citizens of Oakland today overwhelmingly passed, via mail-in ballot, Measure F - a first of its kind 1.8% local sales tax on medical cannabis sold at the city's four medical cannabis dispensaries.
More on the flip.
While the initial projections are small - $294,000 in the first year - the astounding level of support for the Measure - 80% - shows mainstream acceptance of the dispensaries. From the AP:
The dispensary tax was one of four measures in a vote-by-mail special election aimed at raising money for the cash-strapped city. All four measures won, but Measure F had the highest level of support....
Although California's 800 or so pot clubs also are expected to pay state sales tax, Oakland is the first city in the country to create a special tax on marijuana sales.
With California's fiscal prognosis as dismal as it is, expect many more local jurisdictions to boost revenues by passing their own taxes on medical cannabis. But the real money will flow after cannabis is fully legalized - and it may happen sooner than we think.