California is increasing business tax rates on legal marijuana, a move that stunned struggling companies that have been pleading with the state to do just the opposite.
The group said the higher taxes that will take effect Jan. 1 will make it even worse for a legal industry struggling under heavy regulation and fees, local bans on pot sales and growing, and a booming underground marketplace.“Widening the price ... gap between illicit and regulated products will further drive consumers to the illicit market at a time when illicit products are demonstrably putting people’s lives at risk,” the group said, referring to the national vaping health crisis.
Casey Wells, a spokesman for the California Department of Tax and Fee Administration, said in a statement that the new rate was determined after the agency analyzed thousands of transactions in California’s computerized marijuana-tracking system.
Tax the pot heads and use the money to support the homeless. .. now that is capitalism. ..
$100 8th jars coming in 2020 brought to you by the great state of CA dumb blackmarketvikings
Legal cannabis has to be organic, and it has to be inspected to ensure growers keep standards. The consumer has to pay for the inspections. In any case, it’s recreational.
Hehehe make legal they say....
California can never do anything right. Politicians always getting in the way of business.
Sin should get refunds for paying extra taxes.
Only CALIFORNIA can screw up legalizing weed. This is what happens in a dem paradise.
Gee do you think a bunch of people who broke the law to purchase pot before it was legal or going to pay taxes now? police warn if you make it legal it's just going to increase the underground industry.
Grow your own
Did they just raise prices to compete with the black market? 🤦♂️
GavinNewsom always taxing
I’m good with it. I was selling 1/8ths of dirt weed in the late 80’s and early 90’s for $60 all day long. If I can legally buy high quality bud for $50 an 1/8th now 30 years later that’s a win.
Let's not get out of hand CA.
The marijuana black market will bankrupt the “legitimate” pot market!
Bellatrixx2020 Let’s just give another gift to the black market!
California-We will tax you out of business.