California looks to boost 'dying' cannabis market with tax cut

[quaint]

KTLA

California Gov. Gavin Newsom signed a bill on Monday to roll back a planned tax increase on the state’s legal cannabis industry in an effort to bolster the market and ensure its long-term success.

AB 564 will not only reverse a scheduled 25% tax increase on the cannabis industry but also set the state’s cannabis excise tax rate at 15% until 2028, a news release from the Governor’s Press Office stated.

“We’re rolling back this cannabis tax hike so the legal market can continue to grow, consumers can access safe products, and our local communities see the benefits,” Newsom said.

In addition to the tax break, Newsom’s administration has also taken measures to increase enforcement efforts against illegal operators.

[Blues Heron]

1. Stop treating it like kryptonite, just legalize it once and for all, treat it like coffee or tea.

Why the fuck is weed the most expensive agricultural product in history? It’s a weed. I can get a pound of fine quality Ceylonese tea for 12 dollars. That’s about how much weed should be, the labor is comparable.

That means an eight should be about ten cents if it was priced honestly. Instead, it’s 40 DOLLARS.

[IbogaProject]

5. It should be more than Tea or Coffee

It does need more careful handling and processing. But it shouldn't be anywhere near the current NY or California prices. Michigan, Washington State and Oregon have much more sensible tax levels and pricing.

[Blues Heron]

6. Fine tea needs major hands on labor, just like weed, no difference. It's just not that complicated.

[Johonny]

2. Market wont grow until they can legally

Export it. To do that, they need to drop the federal laws.

[quaint]

3. High taxes have driven many from dispensaries back to the illegal market.

[msongs]

4. street dealers will always undercut govt dealers lol....newsom keeping prices artificially high wont help nt

[quaint]

7. Newsom does not set prices and he is rolling back tax increases.

[JoseBalow]

8. Dispensary prices are more than double than elsewhere

Often much more than double... And the quality is not necessarily any better. Buying "legal" weed is just not worth it for most people, given that it's ubiquitous.

[quaint]

9. In the 70s, acquisition not a problem.

In my 70s, no longer driving due to vision, acquisition by dispensary delivery.

[JoseBalow]

10. That's a nice convenience worth an added fee, if needed.

I've got a few older friends I turn on with my harvest, definitely saves them a hassle. And it's a good reason to pay a visit!