Monterey County Cannabis Cultivation Tax Rate Trimmed by Two-Thirds to Help Industry

Monterey County Cannabis Cultivation Tax Rate Trimmed by Two-Thirds to Help Industry

The rate will adjust to $5 per square foot for greenhouse grows and $8 per square foot for indoor grows.

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May 23, 2018
montereyherald.com
Business and finance Grower/Agriculture State by State: California

Attempting to ease pressure on a still-fledgling local cannabis industry, a split Board of Supervisors on Tuesday approved revised new tax rates trimming the crucial legal marijuana cultivation charge by two-thirds for most growers, with the potential for future increase in Monterey County.

After a lengthy discussion, the board finally approved by a 3-2 vote Supervisor Simon Salinas’ motion to adjust the cultivation rate to $5 per square foot for greenhouse grows and $8 per square foot for the less common indoor grows. The current rate approved by voters is $15 per square foot.

The rates would remain in place for two years, then be subject to annual increases based on the consumer price index. The board could revisit the rates at any time.

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Top photo courtesy of Adobe Stock

Taxes California