California is working to avoid a shortage of legalized marijuana, state pot czar says

In California, licensing to grow, test, distribute and sell marijuana for recreational use is required by law to begin Jan. 2, but Ajax told lawmakers her agency will make sure that sufficient licenses are provided to growers and testers before the start of the year.

State Sen. Mike McGuire (D-San Rafael), chairman of the Senate Governance and Finance Committee, said there may be 20,000 marijuana growers who will want licenses. He urged consumers to be patient.

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Another challenge is that marijuana cultivation and excise taxes will be collected by a new state Department of Tax and Fee Administration, which was created July 1 and is still in the process of organizing.

With federal banks refusing to process pot sale proceeds because the drug remains illegal under federal law, Richard Parrott, a manager for the new tax agency, said it is prepared to begin accepting cash payments for taxes from as many as 250 cannabis distributors.

Read the entire article by Patrick McGreevy at the Los Angeles Times

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