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Mercnbeth -> RE: legal maryj would be tax boom (1/8/2008 2:44:00 PM)
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the Great State of California is already reaping the benefits. Medical Marijuana Dipensaries that are in accordance with state laws are paying for and being issued business licenses, collecting 8.25% tax on their goods and paying taxes to the state. unfortunately, if the DEA raids the dispensary and seizes the cash before they get the chance to pay their taxes, then some federal government agency gets the money.[:'(]
In February 2007, the state Board of Equalization sent a notice to 150-200 medical marijuana retailers statewide urging them to get a seller's permit like other retailers. "If you sell medical marijuana, your sales in California are generally subject to tax and you are required to hold a seller's permit," the notice said. It went on to warn sellers that "if you do not obtain a seller's permit or fail to report and pay the taxes due, you will be subject to interest and penalty charges."
Legal representation here advises dispensary owners to cooperate fully with each and every guideline that the state has set forth, which includes obtaining business licenses and paying taxes, just like any other retailer. it has helped more than one avoid arrest and prosecution/persecution.
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