Mountain View To Roll Out Pot Business Tax

MOUNTAIN VIEW, CA -- This progressive Santa Clara County town will cash in on the growing popularity of marijuana with the passing of Measure Q, the Santa Clara County Registrar's reported as unofficial results.

With all precincts reporting, 10,001 voters have chosen to earmark 9 percent of the gross receipts from cannabis-related businesses to the general fund. That's a hefty 80.69 percent of the votes counted in favor of the initiative. Certification of the results are due within a month.

Mountain View joins Morgan Hill with Measure I passing, along with Measure M for the city of Santa Clara throwing out the welcome mat to at least taxing the businesses that sell pot.

Hands down, tax measures did well on Election Day in the county. Many of them were designed to place money in the general fund, which represents the engine of a city government.

Currently, cannabis businesses are not permitted to operate in Mountain View. Even with passage, the City Council would still need to vote on an ordinance to regulate them.

In November 2016, Mountain View residents voted in favor of supporting of Proposition 64, the statewide measure that legalized recreational marijuana, cultivation and sales. As of Jan. 1, the California Cannabis Control Board -- which regulates the industry -- made it a mandate for cities and counties to decide how to proceed with the industry that provided Colorado a windfall in tax revenue.

As the fifth largest economy in the world, California represents the largest marijuana industry in the world valued at $7 billion.

--Image courtesy of Kathryn Reed