With an estimated $15 billion in illegal cannabis transactions in California each year, the citizens in Encinitas, CA will have to decide on Election Day on “Proposition 19” also known as “Regulate, Control and Tax Cannabis Act of 2010”. The measure will allow the local government to impose business license fees, transactions fees and sales tax fees for sales of marijuana. It would also allow the local government to regulate the commercial production of cannabis.
The proposition of taxing and regulating the production and sales of cannabis is considered as a measure to generate billions of dollars in annual revenues for California that could be used for providing health care, creating new jobs and improving schools.
Adriana Dinu, Business License Research Analyst, Corporation Service Company
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