California BIPOC Cannabis Operators Rally in Sacramento for Tax Relief

California BIPOC Cannabis Operators Rally in Sacramento for Tax Relief
High Times

A group of licensed cannabis business owners rallied on the steps of the California capitol on Thursday to bring attention to the impact high cannabis taxes have on independent entrepreneurs. The demonstration, which was held in response to the proposed state budget released by Governor Gavin Newsom last month, was organized by Supernova Women, an Oakland nonprofit that works to create opportunities for Black and Brown people in the cannabis industry. The rally featured more than fifty cannabis business owners, patients, and policymakers who are Black, Indigenous, or people of color (BIPOC) and gathered to call for several changes to the state’s cannabis regulations, including eliminating the cannabis excise tax for licensed social equity businesses. “I have been in business 3 years and we have paid half a million dollars in excise taxes alone, and this is in addition to a state excise tax and a 4% city tax,” said Maisha Bahati, founder and owner of Sacramento licensed cannabis retailer Crystal Nugs. “This business has to survive. Failure is not an option for me. I’ve put everything I have into this business and being a social equity business taxed at 40% is killing me and my dreams of creating generational wealth for my children.” Budget Proposal Temporarily Reduces Pot Taxes On May 13, Newsom released a budget proposal for the 2022-2023 fiscal year that included temporary tax relief for licensed cannabis businesses. Under the proposal, Proposition 64, the 2016 ballot measure that legalized recreational pot in California, would be amended to eliminate the cultivation tax paid by cannabis growers. But those attending the rally in Sacramento on Thursday say the proposed tax relief does not go far enough and are calling on Newsom and state legislators to take further action before the budget deadline on July 1. The proposal calls…

Excerpt only …
READ MORE BELOW
Source : California BIPOC Cannabis Operators Rally in Sacramento for Tax Relief

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.