420 with CNW — California Cannabis Businesses Unhappy with Recent Tax Reforms
Although California is home to the largest cannabis market in the country, it is vastly overshadowed by the illicit market. Compared to the $8.7 billion that illicit cannabis sellers earned in 2019, the legal market only brought in $3.1 billion. In a bid to increase legal sales and reduce the dominance of black market sellers, regulators in the state recently passed tax reforms that would reduce the tax burden on licensed cannabis businesses and make their products more affordable. However, cannabis businesses in California still aren’t satisfied with the tax cuts, claiming that they are too modest to have any…

















