Ganja Creates Real Estate Gold Rush In California

Real Estate Investors Flock To California Ahead Of Legalization Of Recreational Ganja

Real estate investors are flocking to California as the golden state is about the legalize recreational ganja use. The state will begin issuing temporary licenses for “cannabis commercial activity” on Jan. 1, 2018. Permanent licensing to follow within 120 days. This highly anticipated event is attracting private real estate investors from across the U.S.

California represents an enormous opportunity for ganja investors to enter the sixth largest market in the world.

State And Local Governments Are Cashing In On Taxing Ganja

ganja

The combined market for legal medical and adult cannabis use is projected to grow from $2.76 billion in 2015 to $6.5 billion by 2020 according to a report co-produced by New Frontier Data and ARCVIEW Market Research. That’s not even figuring in revenue from real estate, technology development or the overall economic impact of the cannabis market.

That’s not even figuring in revenue from real estate, technology development or the overall economic impact of the cannabis market.

Commercial ganja activities will add significant revenue to tax coffers from licensing fees and other taxes. The state charges a 15% excise tax on ganja sales and taxes cultivation at $148 per lb. 

Local governments will also collect sales on ganja purchases and may impose other taxes.

California municipalities are already licensing ganja businesses. The state requires proof the local jurisdiction has authorized the business before issuing a state license.

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