LA Cannabis Business Taxes now due Monthly
LA Now Requires Monthly Tax Reporting for Cannabis Businesses
The City of LA is now requiring cannabis businesses to report their taxes on a monthly basis. The measure, effective 7/1/2019 places a new requirement on cannabis businesses, who previously only needed to file on a quarterly basis. The first monthly reporting to the City of LA is due 08/01/2019.
In order to be compliant, businesses that received their approval from the Department of Cannabis Regulation (DCR) are required to file their business taxes to keep their account in good standing, per Chapter X, Section 104.12 (c) of the LAMC. Reporting will be delinquent after September 3, 2019.
For more info contact The LA Office of Finance.