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Item 35 - Ordinance Amendment No. 2022-01 - Commercial Cannabis Regulatory and Tax Updates
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Item 35 - Ordinance Amendment No. 2022-01 - Commercial Cannabis Regulatory and Tax Updates
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Agenda Packet
Agency
Clerk of the Council
Item #
35
Date
5/3/2022
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Ordinance No. NS-XXX <br />Page 61 of 73 <br /> <br /> <br /> <br />Sec. 21-133. Commercial cannabis businesses—Annual business license tax <br />assessment. <br /> <br />Every person engaged in a “commercial cannabis business” or “commercial <br />cannabis activity” shall pay an annual business license tax as outlined below. This Article <br />shall not apply, except with respect to medical marijuana cooperatives/collectives (also <br />referred to as medicinal cannabis retail businesses) which are vertically and/or <br />horizontally integrated with commercial cannabis businesses, to medical marijuana <br />cooperatives/collectives which are governed by Article XII of this Chapter, or to personal <br />cultivation as defined in section 40-101(b) of this Code. <br />(a) For each branch establishment or separate property location of a commercial <br />cannabis business transacted and carried on in the city, and for each separate type <br />of commercial cannabis business conducted at the same location, the higher of the <br />two (2) following tax rates shall be due to the City for each monthly reporting period: <br />(1) Up to ten percent (10%) of each dollar of gross receipts received or <br />generated for each monthly reporting period. <br />(2) Up to $35.00 per square foot (annual tax rate) prorated monthly to one- <br />twelfth (1/12th) of the annual tax rate amount. <br />(b) These tax rates shall not be adjusted for inflation pursuant to section 21-121 of this <br />Chapter. <br />(c) Notwithstanding the tax rates imposed herein under subsection (a), the City Council <br />may, in its discretion, at any time by resolution, implement any lower tax rate it <br />deems appropriate, and may by resolution increase such tax rate from time to time, <br />not to exceed the maximum rates established by subsection (a). <br />(d) As of the operative date of this Article, the business license gross receipts tax rates <br />and square footage tax rates application to specific commercial cannabis business <br />activities shall be established as follows: <br /> <br />Exhibit 1
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