In California will hold the first auction of objects seized in cannabis-related businesses, organized by the authorities. On February 16, the public will be able to bid to take home items such as bongs and cannabinoid extraction equipment, as well as appliances, furniture and other requisitioned objects.
The California Department of Taxes and Administrative Fees (CDTFA) announced that for the first time it will hold an auction of assets seized in cannabis control operations. The items on which the public will be able to bid come from ten businesses, of which one was a legal sale that presented a tax debt and the other nine were illegal.
The income collected in the auction will be used to pay outstanding taxes of the ten debtor businesses. “The seizure and auction of assets of cannabis companies that evade the law is a tool to recover taxes owed to the State“said the director of the CDTFA, Nick Maduros, through a statement that was reproduced by New York Post.
Of the 10 businesses that were seized, nine were illegal and one was a legal store that owed taxes.
AFP-Archive EL TIEMPO
How to participate in the auction of objects related to the cannabis business in California?
The auction is a joint operation between the tax authority and the California Highway Patrol (CHP). The event will take place on February 16 in the parking lot of the CHP facilities, located at 777 W. Washington Blvd, in Los Angeles, California. Registration of participants in the auction will begin at 9 AM and the offering of items will begin at 10 AM.
“The items will be sold 'as is' to the highest bidder,” indicate the authorities, referring to the fact that the objects will be auctioned in their current state. and there are no guarantees or returns. In addition, event organizers point out that payments will be received in cash, money order or cashier's check and that items must be picked up the same day of the auction.
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