San Jose begins taxing medical marijuana dispensaries on Tuesday, following the passage of Measure U in the last election. To help ease the transition for dispensary owners, City Hall held a seminar on Monday morning on how to calculate and pay the 7 percent tax.
The first payment of the tax is due by the end of April, and owners will be required to file financial audits at that time.
The Marijuana Tax is one of the latest revenue opportunities for the city, struggling to cover a $110 million deficit. Though there were 102 dispensaries in the city as of late last year, there could be far more, many of them operating without a permit.
So, how is this going to play out?