Tax Cut Appears to be Headed for California’s Cannabis Industry

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Governor Gavin Newsom and state lawmakers are set to cut marijuana taxes.  This is in an effort to provide relief to the marijuana industry, but some in the industry say the tax cut doesn’t go far enough.  It will be decided on when a budget trailer bill goes before a vote later this summer.  The cultivation tax that’s being paid by growers would be set to zero.  The excise tax would also stay at 15-percent for at least the next three years, and it would be shifted from distributors to retailers.  The proposed budget also includes more enforcement tools against the illicit cannabis market, worker protections, among other provisions.