State Board of Equalization

CALIFORNIA PROPOSES CENTRAL BANK FOR MARIJUANA BUSINESSES

 

By Leon Thompson

Photo: www.JesseCalifornia.com

August 3, 2015 (Sacramento)--The California tax board officials Friday announced their interest in forming a state-run bank that would allow legal marijuana business operators to transition from what has traditionally been a cash only business to legitimate banking.

STATES CRACKDOWN ON BUSINESSES EVADING SALES TAXES

 

By Miriam Raftery

January 4, 2015 (Sacramento) – Businesses that falsify records to cheat on the amount of sales tax they owe cost the state of California an estimated $214 million in 2010.  Many of them did so by using sales suppression software known as “zappers” to make sales appear lower, often by not reporting cash transactions.