Marijuana Is About To Get Expensive In California

CALIFORINA -- Pot lovers may be excited for the start of recreational marijuana sales in 2018 but taxes could make the drug pretty costly.

With the legalization of the recreational drug in California, state and local taxes could add another 45 percent to the cost, according to a Fortune magazine article.

"California will include a 15% levy on all cannabis sales in the state, including medical pot products, starting in January. Meanwhile, local governments are also adding taxes for sellers and growers that could result in a 70% increase in the price of a small bag of good quality marijuana in parts of the state," the article states.

That means the marijuana industry could bring in more than $1 billion in tax revenue annually, according to the article.

Watch Now: Marijuana Is About To Get Expensive In California

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