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Marijuana tax in California could rise to 45 percent

The tax on legal cannabis in California is expected to skyrocket by the start of the year 2018, a new report suggests.

Starting in January 2018, consumers, growers, sellers and businesses in The Golden State may be permitted to pay as much as 45 percent in local and state taxes at the time recreational marijuana sales kick off.

The state plans to treat the new system similar to liquor sales - by permitting persons aged 21 and up to acquire as much as an ounce of cannabis and legally grow up to six plants at their place of residence.

The tax on legal cannabis in California is expected to skyrocket by the start of the year 2018

The tax on legal cannabis in California is expected to skyrocket by the start of the year 2018

In January, cannabis consumers, growers, sellers and businesses in The Golden State may be permitted to pay as much as 45 percent in local and state taxes

In January, cannabis consumers, growers, sellers and businesses in The Golden State may be permitted to pay as much as 45 percent in local and state taxes

In some parts of the state of California, the sales tax could reach a shocking 45 percent 

In some parts of the state of California, the sales tax could reach a shocking 45 percent 

The purpose is to push cannabis from farms to be distribution centers and then be tested for the retail market.

According to CNN Money, the Fitch Ratings report says 'consumers will pay a sales tax ranging from 22.25% to 24.25%, which includes the state excise tax of 15%, and additional state and local sales taxes ranging from 7.25% to 9.25%.'

Businesses in the area 'will pay a tax ranging from 1% to 20% of gross receipts, or $1 to $50 per square foot of marijuana plants.'

The purpose of the new plan is to push cannabis from farms to be distributed and tested for the retail market

The purpose of the new plan is to push cannabis from farms to be distributed and

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