Long Beach Moves Forward With Marijuana Tax Proposal
The Long Beach City Council this week moved forward with a proposal to add a local tax to medical marijuana sales. The body voted 8-1 to hold a public hearing on whether the matter should be put before LBC voters in November.
The proposal would place a 5 percent tax on sales. The city Berkeley and Sacramento in considering such a tax in tough economic times. But ...
... As we reported Wednesday, if the state proposition (19) to fully legalize marijuana passes -- it will be on the same November ballot -- the price of weed will plummet by as much as 80 percent, according to a new RAND study.
And that means there would be less green coming into to cities like Long Beach.