A Humboldt County Commercial Cannabis Tax Surety Bond is "currently" one of the requirements imposed on cultivators and possibly landowners that allow marijuana production on their properties. We state, "currently" because in February of 2021, a superior court judge ruled that the county likely overstepped its authority in approving the tax regime as is. "A landowner leasing their property to another for the purpose of cultivation cannot be said to be actively engaged in cultivation absent further involvement," Superior Court Judge Neel ruled. Ordinance 2654 has not necessarily been stricken in its entirety however the final tax structure is in flux.
Pursuant to county rules, allowing legal marijuana cultivation, processing and distribution in the county, the following commercial cannabis activities are contemplated.
The Humboldt County cannabis bond is a compliance guarantee but the goal of the ordinance is obviously to collect tax revenues. The language binding surety to the financial guarantee is, "secure timley payment of annual taxes imposed bv Chapter 9 of Division 1, of Title VII." Currently the cannabis tax bond must guarantee the following; $1 per square foot of outdoor cultivation area, $2 per square foot of mixed-light cultivation area or $3 per square foot of indoor cultivation area.
California surety bond leader, SuretyOne.com is the premier underwriter of the surety bonds needed by recreational and medical cannabis operators. We firmly believe in supporting the availability of these products to patients that benefit from them and will provide bonding to ethical cultivators of cannabis products where permitted by law. We will consider applications for a Humboldt County commercial cannabis cultivation tax bond for start-up businesses and individuals regardless of credit or financial statement condition. For further information contact us at (800) 373-2804, email Underwriting@SuretyOne.com or click here for a live chat.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.