Marijuana Retailers (California) Begin collecting 15% Excise tax on their gross receipts by January 1, 2018

The Board of Equalization (BOE) is committed to providing the most up-to-date information about The Adult Use of Marijuana Act of 2016 (Prop 64) and compliance with the various tax laws associated with the cultivation and sales of cannabis and cannabis products in California.

The BOE will email those who sign up to receive our latest news on Prop 64 and cannabis to inform those in the industry, and any member of the public, about tax compliance and related issues. Retailers who sell cannabis and cannabis products will be required to register and begin collecting the 15 percent excise tax on their gross receipts by January 1, 2018. Cultivators will also be required to register by January 1, 2018 to collect and remit the cultivation tax currently set at $9.25 per dry-weight ounce of flowers, and $2.75 per dry-weight ounce for leaves. As the BOE develops the system and forms that you will need, we will send emails via this list serv to inform you.

The BOE will also use this email system to inform people about opportunities to weigh in on tax policies related to cannabis. We plan to share news releases, videos, and information in other formats about the latest developments by the BOE to help you comply with tax laws and regulations related to the cannabis industry.  

We also encourage you to follow the BOE’s social media pages to keep you informed about cannabis and general taxation laws, rules, and regulations. 

 

 

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“If you can't figure it out, figure out a "work-around!" The NestEggg Group was founded with a firm belief that working exclusively with professional firms to help them see past their history into the potential of their futures. Your potential is limited only by your creativity. Jeff's business purpose— “why”—centers on changing results through viewing things in new ways. He expounds: “Changing our results requires changing our actions. Because what we do proves what we believe, only when we change our beliefs can we progress. New insights are what cause us to shift our beliefs.” So what results do you want to attain? Call Jeffrey (1-888-987-NEST) when it’s time for progress. About Robert "Jeffrey" Wolter, President The NestEggg Group, Inc & EgggsAct Tax, Inc. & Managing Member NestEggg Investment Advisors Jeffrey is a common sense and productivity strategist. He facilitates and teaches about growth, positioning, and pricing strategies; leadership; operations; business communications and philanthropy. What he does best—differently from others—is energize people while he shows them how to solve business effectiveness. He clarifies the intricate, huts new light. He encourages hope. He sets you up to make development possible. Jeffrey is recognized for his original ideas and success with practical implementation, even as he challenges the "norm". Jeffery is a skilled facilitator. His deep knowledge of his firm(s) operations and ability to understand the intricacies of All of his clients, gives way to sharp observation skills allow his grasp a firm’s nuances quickly. He then guides firm owners and their teams on their unique paths toward improved profitability, smoother operations, stronger cultures and how and when to give back. Since 1998, he's helped more than 5,024 QuickBooks users and business owners achieve results such as: expanding revenues, attracting and inspiring talent, aligning operations with long-term objectives, discovering and leveraging their differentiation, substantially increasing sales and proposal results, strengthening relationships with their clients, and finding more joy in their work. His 25+ year career background includes roles as entrepreneur, finance director, board of director for several nonprofit, creative business development, insurances agency owner, Wealth Management Firm owner, editor, Tax Specialist, Accounting Director, Mediator and more. Before creating his firm in 2007, Jeffrey was an accountant for several well know local firms and individuals. After building a successful accounting practice, he became intrigued and inspired by the uniqueness of how Insurance, Investment's/Wealth Management, Taxes and Accounting/Bookkeeping all tend to work together, he branched out and created his list of Affiliate Companies in 2012 & 2013 In 2013, joined the Intuit Accountants Council and has assisted in the continued enhancement of the popular QuickBooks (Desktop and Online versions) and did so until late 2015. In 2014 with the legalization of Marijuana, Jeff and his team have committed themselves to knowing as much about the industry and being there to offer Cannabis Compliant, Accounting, Tax & Insurance to business owners that have or need help in keeping in with the Federal government's "280E"