A #voter-approved #tax on #cannabis sales in #San #Francisco may be postponed by #Supervisor Rafael Mandelman. He proposed legislation that would defer The #City’s cannabis tax until after the 2021 tax year. Mandelman’s proposal would change the exemption to 1 #million dollars and wants to add 500 thousand #dollars under a lower rate to be taxed. Additionally, he believes now is not the appropriate time to raise tax rates on small #businesses and suggest some are already suffering from significant cost barriers to open in The City. Furthermore, cannabis businesses already have high taxes from state and #federal #policies. Currently, the tax does not apply to the gross revenue of a business’s first 500 thousand dollars and retailers of cannabis are taxed 2.5 percent of gross receipts up to 1 million dollars. The legislation would require at least six votes by the board to pass.
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