Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

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
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 fixed3.82%3.93%
15 yr fixed2.98%2.99%
5/1 ARM3.13%3.28%
30 yr refi3.91%3.98%
15 yr refi3.08%3.06%
Rate data provided
by Bankrate.com
View rates in your area
Find personalized rates:
More Galleries
Black Friday 2015 in pictures Shoppers around the country braved the crowds to get their hands on the best Black Friday deals. More
Driving the ultimate in '50s Mercedes-Benz style The SC was the car that re-introduced Mercedes-Benz as a global luxury car icon. More
Driving the world's first car Driving a replica of the 1886 Benz Patent Motorwagen, the first internal combustion automobile. More

Special Offer