California Slapping High Taxes On Marijuana

The taxes could influence where the marijuana is grown and how edibles are produced.

California's legal marijuana marketplace will have numerous new taxes and fees.

Voter approval of Proposition 64 allows for the retail sale of cannabis beginning January 1st, 2018. Currently, it costs about $35 to buy a small bag of medical marijuana in Los Angeles. That price is expected to be $50 or $60 at the retail counter in 2018. The taxes could influence where the marijuana is grown and how edibles are produced. Some cannabis growers and retailers have warned that high taxes could lead to a thriving black market in pot. 

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