Jacob Redmond
Well-Known Member
Evanston will impose a tax of 6 percent on the sale price per ounce of medical marijuana, netting the city a projected $141,000 a year under an action approved Monday, March 23, by the City Council.
The Illinois Compassionate Use of Medical Cannabis program allows municipalities to impose a tax upon the privilege of cultivating medical cannabis, according to a city memo penned by Martin Lyons, assistant city manager, and Ashley King, assistant director of administrative services.
The tax is to be paid by a cultivating center, officials said, and is not the responsibility of a dispensing organization or a qualifying patient.
In addition to the city, the state can impose a tax at the rate of 7 percent of the sale price per ounce, officials said.
Evanston officials are estimating usage of about 25 patients a day at the dispensary, to be located at 1804 Maple Ave., starting this fall.
Total annual sales are estimated at roughly $2.35 million.
News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Evanston moves forward on medical marijuana tax - Evanston Review
Author: Bob Seidenberg
Contact: bseidenberg@pioneerlocal.com
Photo Credit: None Found
Website: Chicago Tribune: Chicago breaking news, sports, business, entertainment, weather and traffic - Chicago Tribune
The Illinois Compassionate Use of Medical Cannabis program allows municipalities to impose a tax upon the privilege of cultivating medical cannabis, according to a city memo penned by Martin Lyons, assistant city manager, and Ashley King, assistant director of administrative services.
The tax is to be paid by a cultivating center, officials said, and is not the responsibility of a dispensing organization or a qualifying patient.
In addition to the city, the state can impose a tax at the rate of 7 percent of the sale price per ounce, officials said.
Evanston officials are estimating usage of about 25 patients a day at the dispensary, to be located at 1804 Maple Ave., starting this fall.
Total annual sales are estimated at roughly $2.35 million.
News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Evanston moves forward on medical marijuana tax - Evanston Review
Author: Bob Seidenberg
Contact: bseidenberg@pioneerlocal.com
Photo Credit: None Found
Website: Chicago Tribune: Chicago breaking news, sports, business, entertainment, weather and traffic - Chicago Tribune
