California’s Cannabis Legalization Initiative to be on November Ballot as Proposition 64

proposition 64It’s official: The Adult Use of Marijuana Act (AUMA) will appear on the November presidential election ballot as Proposition 64, six years after the appearance of Proposition 19.

According to its official state summary, Proposition 64; “Legalizes marijuana and hemp under state law”, “Designates state agencies to license and regulate marijuana industry”, and “Imposes state excise tax on retail sales of marijuana equal to 15% of sales price, and state cultivation taxes on marijuana of $9.25 per ounce of flowers and $2.75 per ounce of leaves.”

Read moreCalifornia’s Cannabis Legalization Initiative to be on November Ballot as Proposition 64