David Downs reports on a different kind of “raid” that took place at the Emerald Cup in Santa Rosa, California this weekend. California’s State Board of Equalization sent five representatives to help educate cannabis operators about their sales tax obligations. The taxing authority, which has set up a section on its website to help inform businesses, collects less than 40% of the $111mm it estimates that it is owed in sales taxes.
The good news is that there are very few scofflaws at the event:
Prior to attending, California’s taxmen checked the list of Emerald Cup exhibitors against its own list of businesses with seller’s permits, and found that about 98% of the exhibitors at the Cup had the required BOE seller’s permit.
Read David Downs’ “Tax scofflaws on notice at massive medical pot party”: http://blog.sfgate.com/smellthetruth/2015/12/12/tax-scofflaws-on-notice-at-massive-medical-pot-party/