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Cannabis Regulations <br />REVENUE <br />POTENTIAL Sales Tax (Phases 3-4) <br />o 8.75% current sales tax rate, City <br />receives 1% <br />o Adult use purchases only; medical <br />cannabis exempt under State law <br /> <br />Cannabis Tax (Phases 3-4) <br />o Excise tax on all cannabis businesses <br />o Based on percent of gross receipts <br />o Sliding scale in the range of 4-7% <br />o Requires voter approval (50% + 1) <br />o Propose November 2018 ballot <br />