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State Med Pot Tax Won’t Help Nevada Co Much

With millions of dollars in new revenue possible, a bill has been introduced in the State Senate that would impose a statewide 15-percent sales tax on medical marijuana. It follows long-awaited state regulations on the industry that was passed by the Legislature last September, nearly 20 years after voters first legalized it. Annual sales of medical marijuana are currently estimated at about a-billion dollars a year, according to the measure’s sponsor, Democratic State Senator Mike McGuire of Healdsburg. He says his tax could bring in more than 100-million dollars for the state. But Nevada County’s Assistant Chief Executive Officer, Martin Polt, says they only have two dispensaries, both in Truckee…

click to listen to Martin Polt

 

Polt points out that, like other state taxes, the state has discretion over how the money is distributed to cities and counties…

click to listen to Martin Polt

The bill would also need two-thirds approval from the Legislature, meaning at least some support from Republicans, who don’t usually favor tax measures.

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