Marijuana buds on money
People looking to sell cannabis in California next year must obtain a seller’s permit. Paul Cambra with the state’s Department of Tax and Fee Administration says cannabis cultivators, manufacturers, processors, retailers and distributors must obtain a permit. Individuals who operate a cannabis business that won’t make sales must obtain a certification letter indicating they don’t need a seller’s permit. Two new cannabis taxes take effect January 1st. The first tax establishes a 15-percent excise tax imposed on purchasers of cannabis and cannabis products. A tax on the cultivation of cannabis that enters the commercial market will also be imposed on cultivators.