Recreational marijuana hits stores in California to bring $7 billionStaff Writer | January 2, 2018
It is now legal to buy marijuana for recreational use in California.
Smoking Bureau of Cannabis Control
The state Bureau of Cannabis Control so far has awarded retail licenses to 42 dispensarie. Medical-use marijuana is already legal in California.
California's recreational pot market is expected to reacd $7 billion annually by 2020, according to a report in the Los Angeles Times.
Governments, naturally, will get a cut of the revenue. The substance is heavily taxed at up 45 percent - including a 15 percent state excise tax, a 7.5 percent sales tax and local taxes. ■