Cannabis Business Times: California Cannabis Excise Tax Going Back to 15% Next Month

EXCERPT:

The passage of AB 564 “proves that sound policy wins” when state lawmakers listen to “data over rhetoric,” said Amy O’Gorman, the executive director of the California Cannabis Operators Association.

“This bill protects consumers from dangerous illicit products while preserving the tax revenue that supports essential programs like child care and community reinvestment,” she said. “By stopping this misguided tax hike, the Legislature recognized that smart policy grows revenue by keeping the legal market viable. Driving consumers away from regulated dispensaries would have only undermined public safety and reduced funding for the very programs we all want to protect.”

O’Gorman said A.B. 564’s passage will also save thousands of jobs in the nation’s largest cannabis market, which employs nearly 75,000 workers throughout the state.

FULL ARTICLE: California Cannabis Excise Tax Going Back to 15% Next Month | Cannabis Business Times