Interview with Jerome Horton, Calif State Board of Equalization

Quotes from Charter Local Edition Interview

Marijuana measures don’t have the right laws in place

“he measures just don’t have the appropriate regulation and laws and other protective citizens”

Prop 64 allows for vertical integration

“64 provides for vertical integration meaning meaning that the cultivator can actually own the distribution as well as the retail I think so it makes it very very complicated ‘

Marijuana tax is going to be 150%

“f you look at the marijuana it’s taxed at a rate now about a hundred and fifty percent so if you sell a 250 thousand dollars worth of marijuana your tax is going to be like 300,000”

We’re going to have a flood of illegal marijuana

“if you add in all the other cause it’s almost impossible to operate in the legal market so what it’s going to do in my opinion brad is going to shift the operation into the black market and I think we’ll have an infestation of illegal marijuana ”

This is a $54B criminal industry that we’re trying to convert into a legitimate operation

“it is a 54 billion dollar criminal industry that we’re trying to convert into a legitimate operation and you just don’t do that by putting the revenue first you do it actually by putting the regulations in place the laws ”

We want to shift the tax up the supply chain to make it easier to tax

“shift the collection of the tax from the 20,000 distributors to the processes in the manufacturers so we have less people that we have to regulate less people that we have to control makes it easier and on the banking side you have 20 30 folks that you have to worry”

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