Not the Best Week In California’s Great Legalization Experiment

Not the Best Week In California’s Great Legalization Experiment

Where do we start ? It’s hard to find many positives in the past week’s developments   Forbes report Exclusive: California Is Raising Taxes On Cannabis Again Los Angeles, CA – The California Department of Tax and Fee Administration (CDTFA) announced yesterday that it plans to raise taxes on the legal cannabis industry once again. Increasing cannabis tax rates is considered to be another blow to an industry that is currently facing an economic downturn in a depressed market. The legal cannabis industry faces stiff competition from a thriving illicit market, due to the non-compliant market’s significantly lower price points. The CDTFA’s latest planned tax increase will further exacerbate price point discrepancies between the compliant and non-compliant markets. Potentially, cannabis consumers may be driven away from the heavily-taxed legal market if the latest tax increases are passed on to consumers rather than absorbed by operators. https://www.forbes.com/sites/sarabrittanysomerset/2019/11/22/california-is-raising-its-taxes-on-cannabis-again/#53e6c46574eb MJ Biz Report License revoked for California cannabis vape maker Kushy Punch after state seizes $21M worth of products License revoked for California cannabis vape maker Kushy Punch after state seizes $21M worth of products   LA Cannabis News reports Hundreds of California Marijuana Business Licenses still Suspended and Likely Going Unused Almost 4%…

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Source : CANNANNEW REPORT
Link to original : Not the Best Week In California’s Great Legalization Experiment
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