Let's begin with the big elephant, or donkey as it may be, in the room. California’s Proposition 64, the Adult Use of Marijuana Act, passed by 56 percent. While pro-marijuana advocates touted Proposition 64 as having the potential to raise staggering amounts of money through the 15 percent excise tax and 7.5 percent sales tax applied to recreational marijuana sales, a drafting error in the measure has cast a dark shadow of doubt on that conclusion. Without intending to do so, the drafters of Proposition 64 inadvertently repealed the taxes on medical marijuana from now until January 2018, when recreational sales are set to begin. What does this mean for the state?
Click on above PDF to read entire article published in Law360, on Nov. 22, 2016