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 fixed3.44%3.46%
15 yr fixed2.72%2.73%
5/1 ARM2.98%2.95%
30 yr refi3.49%3.49%
15 yr refi2.72%2.75%
Rate data provided
by Bankrate.com
View rates in your area
Find personalized rates:
More Galleries
Sports teams want you back in the stadium Stadium attendance is down so pro sports teams are using technology to win back fans and get them in their seats. More
Homes in these ZIP codes are selling like crazy Strong job growth, growing interest from Millennials and affordable home prices are attracting home buyers to these cities. More
Working class whites & the government: It's complicated These Clearfield, Pennsylvania, residents are mad at D.C., but want more help. More

Special Offer