Opinion: California legal cannabis market could soon implode

have surrendered their licenses this year; others are letting fields go fallow, unable to fund this year’s harvest.

For all the talk of equity and “righting the wrongs” of the drug war, all of this is taking place in an industry without bankruptcy protections, where individuals carry personal liability for business taxes, and where businesses are barred from writing off normal expenses. The state excise tax on a bottle of wine is 4 cents. For an eighth-ounce of cannabis, it’s $4.90 or over 100 times more. Products are also subjected to countless local taxes. A single product may be taxed at cultivation, manufacturing, distribution and retail. Some jurisdictions even charge a “road tax” for merely transporting products.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Excessive taxes, local control allows California illicit cannabis market to thriveGuest commentary: By allowing municipalities to opt-out of legalization, the state has essentially ceded two-thirds of the market to criminals. In these dry zones, unregulated, untaxed and untested cannabis is king... 📝 Tiffany Devitt
Source: CalMatters - 🏆 261. / 63 Read more »

Inside the Illicit Market for Abortion Pills on TelegramA WIRED investigation reveals a surge of abortion pill sales on Telegram. Over 200 groups/channels explicitly mention selling abortion pills, with a focus on marketing to the US since Roe v. Wade was overturned. 📷: James Marshall; Getty Images
Source: WIRED - 🏆 555. / 51 Read more »