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Oakland's Pending Medical Marijuana Tax Could Raise "Millions" In Revenue
California NORML reports on a proposed tax increase for medical marijuana dispensaries that would bring in millions for the cash-strapped city:
A proposal to increase the business tax on city-licensed medical cannabis dispensaries has won approval from an Oakland City Council committee and will now be voted on by the full council. If approved by the Council, the issue will likely go before municipal voters this summer.
The proposal would raise the tax paid by dispensary operators for every $1,000 in gross receipts from $1.20 to as much as $24.
Council members estimate that the new tax could raise anywhere from $400,000 to a "couple million" dollars in city revenue annually.
Four state-licensed dispensaries operate in Oakland.
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