Jan 1, 2018 adults 21+ will be able to sell recreational marijuana in the state of California. It’s estimated that sales will surpass $6 1/2 billion dollars in sales annually by 2020. This will beat the state’s dairy. If you’re not sure which stores will be approved to sell we have a list for the state here
Here’s a guide and what you need to know that is legal and is not.
Recreational marijuana will be legal in California starting on Monday. Here’s what you should know. pic.twitter.com/AtelEwj7Zg
— Los Angeles Times (@latimes) December 27, 2017
So this is great news for advocacy and the movement towards legalization across the nation.
However now for the down side.
Recreational Pot prices is going to be alot higher
Recreational customers will pay an addition 15% state tax on purchases and cities can charge in additional 7.5% – 9.5%
A bag of marijuana that would cost a medical marijuana patient about $35 is going to cost the recreational customer about $50 or $60
That’s about a 70% increase!
The industry is also about to get a-lot more boutique
New products that will be sold are
- high end lotions.
- Massage oils
- tinctures
- Elixirs
- De-alcoholed cannabis infused wine.
Marijuana is still federally illegal. This classification doesn’t allow pot stores to accept credit cards or even get bank accounts.
So bring cash on Jan 1, 2018
Happy New Year.
