Back in 2018, San Francisco voters approved a 1%-5% cannabis business tax slated to go into effect in early 2022. After three hard years for the city’s cannabis industry, however, plans to implement the tax have gone out the window.
Early last week, San Francisco supervisors unanimously voted to suspend the cannabis tax through December 2022. “Now is not the time to impose a new tax on small businesses that are just getting established and trying to compete with illicit operators.” said Supervisor Rafael Mandelman, the bill’s author. Mandelman’s comment alludes to the fact that even without the new tax, cannabis businesses are struggling to keep up with illegal sellers who offer much lower prices.
Recent data from the California Legislative Analyst Office backs Mandelman’s claim. According to the office, cannabis tax rates and illegal cannabis sales go hand in hand. Simply put, the further that cannabis taxes go up, the more likely it is that consumers will turn to the illegal market. A large illegal market means less money for local government and lower quality products for consumers—not to mention the unsafe working conditions that illegal markets put their employees under.
The tax suspension is expected to go into effect as soon as it is signed by Mayor London Breed. After that, Mandelman and his office are looking to work with other departments in the city to gather and analyze cannabis sales data. Using that data, Mandelman hopes to create a set of recommendations for tax rates and structures that can benefit legal retailers.
What do you think of San Francisco’s bold new move? Should the city go even further with its tax suspension? Let us know what you think in the comments!
So you already love smoking cannabis, but did you know that the type of paper you use can make or break the experience? Whether you’re rolling a quick joint or prepping for a smoke session with a blunt, the right paper makes all the difference. When you first start smoking joints or blunts, the…
Prior to the 2000s, artificial intelligence (AI) for many was either theoretical, fantastical, or a recurring bad guy in the Terminator movies. That changed after ChatGPT went live in November 2022. Now, AI has become an intrinsic part of everyday life, which is why you have at least one AI-powered app on your phone right…
Lyme Disease and its lingering effects can take a serious physical and mental toll on those who suffer from it. Lyme disease is the most commonly transmitted tick-borne disease in the U.S., and its infection rates continue to rise each year. Cannabis helps manage a wide range of related symptoms (e.g., joint pain, fatigue,…
Is your cannabis-loving friend or loved one’s birthday coming up, or are you just in the mood to do something nice for that special someone? Whatever the reason, we’re here to help you pick a gift that’ll leave them grinning from ear to ear. We’ve compiled 15 gadgets that’ll make great gifts for different types…
Hair care can get expensive, especially with all of the special ingredients available in today’s market. One often overlooked ingredient for soft and smooth hair is cannabidiol (CBD). Although there is a range of CBD hair products on the market, you may be interested in saving some bucks and making your own. We’ll show you…
Sign up for our newsletter
Learn the process in your state
All Rights Reserved Veriheal Inc. ©
Terms Privacy Policy Advertising Agreement Content Disclamer
Get your medical marijuana card today
Sign up in under 5 minutes
Start By Selecting Your State
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Puerto Rico
