Cannabis Business Taxes Due at End of November
Author: Auditor-Controller-Treasurer-Tax Collector's Office
11/5/2018 2:36:13 PM
Jim Erb, County Auditor-Controller-Treasurer-Tax Collector, announced an effort to help cannabis businesses get into compliance with required cannabis business taxes (CBT).
Cannabis Business Taxes can be paid without any penalties or interest on or before November 30, 2018, accounted Jim Erb, County Auditor-Controller-Treasurer-Tax Collector.
“Although the County has not yet issued any cannabis business licenses, some businesses are already in operation because they are covered under the County's Abeyance Resolution and the State's temporary licensing program. We want to remind those businesses that all revenue from cannabis businesses is taxable as of July 1, 2018," said Erb.
Over 76% of county voters approved the CBT during the June 5, 2018 election. The CBT took effect on July 1, 2018.
“We understand that there is a learning curve for everyone on the cannabis tax. To help businesses get into compliance, we are urging them to contact our office. We’re happy to walk you through the tax reporting and payment process. We also won’t assess any penalties or interest as long as you report on or before November 30, 2018,” said Erb.
Information about the Cannabis Business Tax is available on the Tax Collector's Website. Questions can also be directed directly to the Tax Collector's office at [email protected] or at (805) 781-5831.