California – New Cannabis Industry Tracking System Among New Tax Laws Effective January 1

SALT Report 3754 – New tax laws, effective Jan. 1, 2016, enhance the California State Board of Equalization’s (BOE) ability to protect taxpayers and allow for ongoing administration of taxes that help pay for important state and local services such a public safety, education and transportation.

Assembly Bill (AB) 266 requires the BOE to adopt a commercial cannabis and cannabis products distribution tracking system. This will assist in BOE’s current role of sales and use tax collection at the dispensary level, and if excise taxes are later added at the state and local levels. This law establishes a comprehensive statewide regulatory framework for commercial medical cannabis activity to protect patients, promote public safety, and further enhance compliance with state laws in the medical cannabis industry.

For further Information:

http://www.boe.ca.gov/news/2015/86-15-G.htm