YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
California state legislators yesterday introduced a bill to cut taxes on legal marijuana sales in an attempt to battle grey and black market competition.
The Temporary Cannabis Tax Reduction bill would temporarily reduce the state excise tax to 11 percent from 15 percent for weed retailers. It also would suspend cultivation taxes through 2022.
During the first six months of 2018, the state's tax revenue for the industry was $101 million below projections.
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