34010.
This part shall be known, and may be cited, as the “Cannabis Tax Law.” For purposes of this part:(a) “2020–21 fiscal year baseline” means the total amount of funds disbursed in the sub-trust accounts in fiscal year 2021–22 for the third allocation of the fiscal year 2020–21 revenue, pursuant to subdivision (f) of Section 34019, as determined by the Department of Finance.
(b) (a) “Arm’s length transaction” shall mean a sale entered into in good faith and for valuable consideration that reflects the fair market value in the open market between two informed and willing parties, neither under any compulsion to participate in the transaction.
(c) (b) “Average market price” shall mean both of the following:
(1) (A) In an arm’s length transaction, the average retail price determined by the wholesale cost of the cannabis or cannabis products sold or transferred to a cannabis retailer, plus a mark-up, markup, as determined by the department on a biannual basis in six-month intervals on or before July 1, 2022. intervals.
(B) Notwithstanding subparagraph (A), the department shall not increase the mark-up markup amount during the period beginning on and after the operative date of the act amending this section by adding this subparagraph September 18, 2020, and before July 1, 2021.
(C) Notwithstanding subparagraph (A), during the period beginning on and after July 1, 2022, and before July 1, 2025, the average market price in an arm’s length transaction shall not include any markup amount.
(2) In a nonarm’s length transaction, the cannabis retailer’s gross receipts from the retail sale of the cannabis or cannabis products.
(c) “Department” means the California Department of Tax and Fee Administration or its successor agency.
(d) “Tax Fund” means the California Cannabis Tax Fund created by Section 34018.
(d) (e) “Cannabis” has the same meaning as set forth in Section 11018 of the Health and Safety Code and shall also mean medicinal cannabis.
(e) (f) “Cannabis products” has the same meaning as set forth in Section 11018.1 of the Health and Safety Code and shall also mean medicinal concentrates and medicinal cannabis products.
(f) (g) “Cannabis flowers” means the dried flowers of the cannabis plant as defined by the department. board.
(g) (h) “Cannabis leaves” means all parts of the cannabis plant other than cannabis flowers that are sold or consumed.
(h) (i) “Cannabis retailer” means a person required to be licensed pursuant to Division 10 (commencing with Section 26000) of the Business and Professions Code as a retailer, non-storefront nonstorefront retailer, microbusiness, or nonprofit, or any other person otherwise authorized under nonprofit pursuant to Division 10 (commencing with Section 26000) of the Business and Professions Code to engage in retail sales. Code.
(i) (j) “Cultivator” means all persons required to be licensed to cultivate cannabis pursuant to Division 10 (commencing with Section 26000) of the Business and Professions Code.
(j) “Department” means the California Department of Tax and Fee Administration or its successor agency.
(k) “Designated for donation” means medicinal cannabis donated by a cultivator to a cannabis retailer for subsequent donation to a medicinal cannabis patient pursuant to Section 26071 of the Business and Professions Code.
(l) (k) “Distributor” means a person required to be licensed as a distributor pursuant to Division 10 (commencing with Section 26000) of the Business and Professions Code.
(m) ( l) “Enters the commercial market” means cannabis or cannabis products, except for immature cannabis plants and seeds, that complete and comply with a quality assurance review and testing, as described in Section 26110 of the Business and Professions Code.
(n) (m) “Gross receipts” has the same meaning as set forth in Section 6012.
(o) “Manufacturer” means a person required to be licensed as a manufacturer pursuant to Division 10 (commencing with Section 26000) of the Business and Professions Code.
(p) “Medicinal cannabis patient” means a qualified patient, as defined in Section 11362.7 of the Health and Safety Code, who possesses a physician’s recommendation that complies with Article 25 (commencing with Section 2525) of Chapter 5 of Division 2 of the Business and Professions Code, or a qualified patient or primary caregiver for a qualified patient issued a valid identification card pursuant to Section 11362.71 of the Health and Safety Code.
(q) (n) “Microbusiness” has the same meaning as set forth in Section 26001 paragraph (3) of subdivision (a) of Section 26070 of the Business and Professions Code.
(r) (o) “Nonprofit” has the same meaning as set forth in Section 26070.5 of the Business and Professions Code.
(s) (p) “Person” has the same meaning as set forth in Section 6005.
(t) (q) “Retail sale” has the same meaning as set forth in Section 6007.
(u) (r) “Sale” and “purchase” mean any change of title or possession, exchange, or barter, conditional or otherwise, in any manner or by any means whatsoever, for consideration.
(v) “Sub-trust accounts” means the sub-trust accounts created under subdivision (f) of Section 34019.
(w) “Tax fund” means the California Cannabis Tax Fund created by Section 34018.
(x) (s) “Transfer” means to grant, convey, hand over, assign, sell, exchange, or barter, in any manner or by any means, with or without consideration.
(y) (t) “Unprocessed cannabis” includes cannabis flowers, cannabis leaves, or other categories of harvested cannabis, categories for unprocessed or frozen cannabis or immature plants, or cannabis that is shipped directly to manufacturers.
(u) “Manufacturer” means a person required to be licensed as a manufacturer pursuant to Division 10 (commencing with Section 26000) of the Business and Professions Code.
(v) “Medicinal cannabis patient” shall mean a qualified patient, as defined in Section 11362.7 of the Health and Safety Code, who possesses a physician’s recommendation that complies with Article 25 (commencing with Section 2525) of Chapter 5 of Division 2 of the Business and Professions Code, or a qualified patient or primary caregiver for a qualified patient issued a valid identification card pursuant to Section 11362.71 of the Health and Safety Code.
(w) “Designated for donation” shall mean medicinal cannabis donated by a cultivator to a cannabis retailer for subsequent donation to a medicinal cannabis patient pursuant to Section 26071 of the Business and Professions Code.