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California Cannabis Tax Collection and Penalty Nightmares- Cbdganjah

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California’s hemp taxes are a catastrophe with no apparent solution in sight. I’ve written extensively about the country’s tax issues, but now I want to discuss what the condition can do to collect taxes.

Soon levies on hemp? Get used to severe fines

A qualified cannabis company may be required to pay a sum of money that is significantly higher than the tax amount in question. In addition to the 10 % public penalty paid for delayed tax payments, the state’s cannabis laws forbid a 50 % of the paid amount. The same franchisees will also be required to pay attention on the paid bills. You might have noticed an additional charge listed as “other” in a statement of account from the California Department of Tax and Fee Administration ( CDTFA ), which allegedly includes various collection fees.

Imagine a business owing$ 100, 000 and making a proper payment. Given the above, that same business would owe at least$ 160, 000 ( and probably closer to$ 170, 000 or more ) in addition to the penalties. Also, I mean it literally when I say “timely” because the CDTFA has already imposed penalties when it does this.

Read the entire HarrisBricken post.

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