Pay up! The city wants its cut

Desperate times call for desperate measures. Cash-strapped city and state governments are looking for a little extra revenue wherever they can get it.

1 of 7
BACKNEXT
A tax on medical marijuana
A tax on medical marijuana
The medical marijuana business is alive and well in California, where dispensaries pay state -- but not city -- business taxes. Now, the Los Angeles City Council wants to change that.

The council is proposing medical marijuana collectives pay a 5% tax as a way to fund the local police service, parks and "general improvements throughout the city." Local smokers, er, voters, will get their say in a city election scheduled for March 8.


NEXT: Upgrade your jail stay, for a fee
Last updated March 03 2011: 2:08 PM ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.84%3.77%
15 yr fixed3.02%2.95%
5/1 ARM3.10%3.01%
30 yr refi3.91%3.84%
15 yr refi3.11%3.05%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
More Galleries
10 things you'll love about Windows 10 There's a lot to like about Windows 10. Here are our favorite features in Microsoft's soon-to-be-released operating system. More
Warren Buffett's gone cold. How his top 10 stocks are doing The Oracle of Omaha is an investing legend. But several of Berkshire Hathaway's biggest investments are off to a lousy start in 2015. Will shareholders complain at the annual meeting in Omaha on Saturday? More
BMW's M235i doesn't compromise BMW's new M235i gives you the performance of an M car for a lot less money. More

Special Offer