Marijuana buds on money
A new report suggests buying legal marijuana in California is likely to keep the black market thriving. According to credit ratings agency Fitch ratings, between customers, retailers and growers, taxes on cannabis may reach as high as 45 percent in parts of the state. Once the recreational retail market begins January 1st, California marijuana consumers are going to have to pay a combination of state and local taxes that vary by municipality, while growers and sellers have their own taxes, too. Among the eight states where recreational marijuana is legal, only Washington has a higher tax rate at about 50 percent.