California's Cannabis Tax Revenue Could Double if Cultivation Tax is Eliminated
California's Cannabis Tax Revenue Could Double if Cultivation Tax is Eliminated
California's Cannabis Tax Revenue Could Double if Cultivation Tax is Eliminated
A new report finds that eliminating the cultivation tax could double California’s monthly cannabis tax revenue while increasing the overall market share of licensed cannabis businesses. Precision Advocacy was pleased to partner with Good Farmers Great Neighbors and the Reason Foundation to bring critical new evidence to ongoing discussions around the need for cannabis tax reform.
In addition to eliminating the cultivation tax, the study recommends reducing retail excise taxes and encouraging state leaders to consider revenue sharing options to better incentivize local governments to discontinue jurisdictional bans on licensed cannabis businesses.
California is experiencing a serious price compression in the cannabis supply-chain. A strong illegal market, high taxes and regulatory fees, and a patchwork of inconsistent local taxes are driving licensed cannabis businesses to the brink of financial ruin. Advocates urge the governor and state legislators to use the report as a roadmap of solutions for tax policy reform.
A full version of the report can be found here: https://reason.org/wp-content/uploads/impact-of-california-cannabis-taxes-on-legal-market.pdf
A special thank you to CCIA's Legislative Advocate, Amy Jenkins of Precision Advocacy along with Sam Rodriguez, Policy Director, Good Farmers, Great Neighbors, and the Reason Foundation for your work on this report.
Read more about this report in the media below:
Orange County Register
LA Daily News
Riverside Press-Enterprise
Long Beach Press Telegram
Pasadena Star-News
Daily Breeze
Redlands Daily
San Gabriel Valley Tribune
San Bernadino Sun
Whittier Daily News
Inland Daily Bulletin