Photos: Coastal Dispensary opens on South J St in Lompoc

Cannabis flowers are displayed during the grand opening of Coastal Dispensary at 124 South J St. in Lompoc.

An overwhelming majority has voted in support of Measure Q2021, which calls for a new taxation schedule that significantly increases tax on cannabis operations in the city of Lompoc.

The measure, which was added to the Sept. 14 special election ballot by Lompoc voters via a special mail-in ballot election held on Aug. 31, will generate an estimated $1.2 million in annual revenue for the city based on existing businesses, according to reports.

Final election results show that out of 6,460 votes cast, 76.03% of voters favored the measure, while 23.97% voted against. 

Currently, operators with a net income of $2 million pay a flat fee of $15,000 annually, while those with a net income above $2 million pay a flat $30,000 to operate out of Lompoc. 

The new tax schedule will begin at half a cent per dollar for annual gross revenues of $10 million or less, which works out to $50,000 based on $10 million. The schedule goes up in increments of half a cent — 1% for revenues $10 million to $25 million, 1.5% for revenues $25 million to $40 million, and 2% on revenues $40 million to $55 million — and caps out at 2.5 cents per dollar for revenues of more than $55 million.

Lisa André covers lifestyles and local news for Santa Ynez Valley News and Lompoc Record. 

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