420 with CNW — LA Council Approves Higher License Fees for Marijuana Businesses
Cannabis operators in Los Angeles will face steeper renewal fees after the City Council unanimously approved a hike recently, putting added pressure on an industry already dealing with thin margins and increasing competition. City officials explained that the fee hike is necessary due to declining tax income from the sector, combined with a growing budget shortfall. However, many cannabis entrepreneurs say this added cost could push them out of business. Luis Rivera, who once ran three cannabis delivery services, has already closed two. He’s now unsure if his last business can survive. “There’s just no more money to pull from,”…