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Long Beach's Farrell Discusses Proposed Marijuana Tax: Video
July 9 (Bloomberg) -- Lori Ann Farrell, director of financial management for the City of Long Beach, California, talks about the city council's decision to pursue a 5 percent tax on medical marijuana dispensaries to bridge falling revenue from the worst recession since the 1930s. Long Beach's plan also proposes a 10 percent tax on non-medicinal marijuana sales if a state-wide referendum to legalize limited marijuana possession passes in November.
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