The tax was originally slated to go into effect in January 2021
San Francisco officials decided to hold off by one year the implementation of a new cannabis sales tax.
According to Law360, the city’s Board of Supervisors unanimously approved a delay of the new tax until the end of 2021. The tax was slated to go into effect in January 2021.
The new tariff, approved by voters in 2018, is a sales tax on all marijuana products at 2.5% on gross receipts up to $1 million and at a 5% rate on receipts beyond $1 million.
To Read The Rest Of This Article On MJ Biz Daily, Click Here