(July 7) -- Following an example set by the city of Oakland, several California municipalities are looking at taxing local marijuana sales to help bridge devastating budget deficits. And with voters set to decide on a statewide ballot initiative in November to legalize the recreational use of the drug, there could be significant money at stake, officials say.
Oakland began taxing medical marijuana in January, though the amount collected so far was not immediately available for release. On Tuesday, the city of Long Beach, near Los Angeles, took steps to adopt its own tax on local dispensaries. Sacramento, the state capital, as well as San Jose and Berkeley also are considering adding a pot tax.