Cohen introduces cannabis tax for November ballot

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Cohen’s proposal is expected to generate between $5 million and $10 million in 2021.The first $500,000 in gross receipts would be exempted from the tax. Medical cannabis also would not be taxed.

A City Controller’s analysis on a cannabis tax last year said a 1 percent cannabis gross receipts tax without exemptions would generate between $1 million and $2 million annually. A 5 percent cannabis gross receipts tax would generate between $6 million and $12 million.

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