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File #: 201009    Version: 1 Name: Business and Tax Regulations Code - Temporary Suspension of Cannabis Business Tax, and Tax Reduction
Type: Ordinance Status: 30 Day Rule
Introduced: 9/1/2020 In control: Budget and Finance Committee
On agenda: Final action:
Enactment date: Enactment #:
Title: Ordinance amending the Business and Tax Regulations Code to suspend the imposition of the Cannabis Business Tax through December 31, 2021; beginning January 1, 2022, to increase the exemption of gross receipts attributable to the City from cannabis business activities, from the first $500,000 to the first $1,000,000; and also beginning January 1, 2022, to increase the upper range of gross receipts attributable to the City from cannabis business activities subject to the 2.5% tax rate on gross receipts from retail sales and the 1% tax rate on gross receipts from other than retail sales, from $1,000,000 to $1,500,000.
Sponsors: Rafael Mandelman
Attachments: 1. Leg Ver1, 2. Leg Dig Ver1, 3. FYI Referral 091620, 4. SBC Referral 091620
Legislation Details
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