Tax cut for California pot industry: Too little, too late?

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California’s governor on Friday proposed a temporary tax cut for the state’s struggling legal marijuana industry, but businesses said it falls far short of what’s needed to revive a foundering pot economy.

in December that the state’s licensed industry was verging on collapse and needed immediate tax relief and a swift expansion of retail outlets to survive.

The tax debate presents a dicey political challenge for Newsom, who is seeking a second, four-year term in November. He’s being pressured by financially struggling businesses that want a deep tax cut, but youth and other organizations that benefit from those dollars don’t want to see that funding dry up.

If approved, the plan would represent the first change in tax policy since legal sales kicked off. However, some taxes, including cultivation, have increased over that time. And it’s even possible the plan could result in higher costs for consumers at the retail counter, Kiloh warned.

 

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Yep m company has already fired 20 people in the last year almost bankrupt

Taxifonia is ridiculous

Cut the gas tax. Arrest dealers from south of the border. Stop sanctuary cities that nurture dealers.

He’s made the illegal pot industry flourish through overtaxation and over regulation

What about a gas tax cut that would help everybody stupid newscum

ShellenbergerMD

Oh i see newsom cut dope tax but dont want to do tax cut on gasoline oh ok i know his priorities is at he a 🤡

The pot proponents cried for years 'legalize it and tac it' so it was done. Now they complain about that.

They need a tax cut im sure this is a mistake

Tax cut to sell weed what the heck

Such an important thing. Glad we have a governor that recognizes true priorities. Who needs water for the Central Valley to grow food for the nation…Lower the dope prices so people can smoke more and be happy.

Cut weed tax but not gas tax, Newsom’s a 🤡🤡

Or we could stop the illegal drug trade. Won’t happen because that would mean securing the borders and imprisoning drug dealers.

Hahaha, how about us that have to work, 10 ,, 12,, hrs a day to make a decent living, when is our tax break coming

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