Mugglehead Magazine: California cannabis operators get more room to breathe as tax increase is curbed

EXCERPT:

Additionally, the California Cannabis Operators Association is quite happy about the government’s decision.

“By stopping this misguided tax hike, the Legislature recognized that smart policy grows revenue by keeping the legal market viable,” the organization said. “The passage of AB 564 proves that sound policy wins when state lawmakers listen to data over rhetoric.”

This enthusiasm is also shared by the Humboldt County Growers Alliance, the United Food and Commercial Workers Western States Council labour union and local drug policy reform advocacy organization, California NORML.

Despite having the world’s largest legal cannabis market, California’s sector has been plagued by challenges in recent years. Many operators in the state sector, particularly the smaller ones, have been struggling to turn a profit due to high taxation and steep competition.

FULL ARTICLE: California cannabis operators get more room to breathe as tax increase is curbed | Mugglehead Investment Magazine