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California Ends Cannabis Cultivation Tax

California Ends Cannabis Cultivation Tax


"California Gov. Gavin Newsom (D) signed the state budget on Thursday which included the elimination of the state’s cannabis cultivation tax and a cap on the cannabis excise tax at 15% for three years, the North Bay Business Journal reports.

Amy O’Gorman Jenkins, a lobbyist for the California Cannabis Industry Association, told the Journal that she was “celebrating” the end of the cultivation tax, which many blamed for the state’s high cannabis prices and strong unregulated marketplace. A report by the Reason Foundation in May suggested that monthly cannabis tax revenues could double by 2024 were the cultivation tax to be eliminated.

“The Legislature seems to have grasped a lot of what’s affecting the cannabis industry. More work needs to be done, but I see this as a big win. To critics, I say this is a significant first step.” — O’Gorman to the Journal"

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