California, Cannabis, Co Founder discussed on Red Eye Radio

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Them and good morning thank you so much for being here laura i'm a onestorey hirszon somebody of months than that the some of the states are looking at the increasing pot taxes in order to take the burden off of uh of income taxes in other in in states all right uh marijuana dispensaries across california experienced longlines on the first day of legal recreational pot sales there's from cbs news in california but advocates warned that the legal industry won't survive without big changes uh i'm very happy about it thrilled really to see the legalisation of cannabis in california said steve the angelo co founder and ceo of harbourside in oakland at the same time i'm terrified about what's going to happen with these taxes harbourside his buddy medical marijuana dispensary for more than a decade is now selling recreational marijuana at a much higher price in our shop here the tax rate has gone from fifteen percent all the way up to almost thirty five percent for adult consumers dangelo said uh here's how the math works there is a regular state sales tax of six percent the county sales tax of three point two five percent there is a fifteen percent state tax on marijuana and a ten percent oakland tax on recreational marijuana total taxes thirty four point two five percent no this is a huge hits and it's going to mean that a significant number of people lessep luhn consumers are going to turn to uh to the lower prices of the.

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