HOW MUCH WILL I PAY IN TAXES WHEN I BUY CANNABIS AT FARMACY SANTA YNEZ?
When we talk about taxes on cannabis sales, there are three different tax types:
Cannabis State Excise Tax – The cannabis state excise tax is imposed upon purchasers of all cannabis and cannabis products at a rate of 15% of the Taxable Excise Total *see below for the formula. Retailers are responsible for collecting the cannabis excise tax from purchasers at the time of the retail sale and paying the tax to the California Department of Tax and Fee Administration (CDTFA).
County Tax – 6% for Medical Marijuana Identification Card (MMIC) Holders and all other Adult Use/Recreational Purchases
Sales Tax – Nearly all products in California are subject to a general sales tax, and cannabis is no exception. While the excise tax is the same no matter where you buy, the sales tax varies depending on your city or county. Medical Marijuana Identification Card (MMIC) holders are exempt from sales tax on medical products.
Per the CDTFA, sales tax is calculated after delivery fees (if applicable), local county tax and 15% cannabis state excise tax has been added to your purchase.