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California lawmakers fail to include cannabis tax relief in budget bill

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Faint hopes for California cannabis industry excise tax relief evaporated Wednesday when lawmakers failed to squeeze a freeze on the levy into a state budget bill. "It would not be a budget if there weren't things to be disappointed about," Democratic state Sen. Christopher Cabaldon said during a budget hearing. "I wish we had reached an agreement on the cannabis tax increase." Tax relief might yet be on the way for California's cannabis operators in another form, but at least six months of higher rates are guaranteed. Read story >

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How private credit built - and will continue to sustain - the marijuana industry

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In the absence of traditional banking, private credit has emerged as the cornerstone of the U.S. cannabis industry. Alternative financing groups didn't just fill a gap – they created the foundation upon which the modern cannabis market was built. Without this financing, the cannabis sector would not have been able to scale cultivation, expand retail or establish the infrastructure necessary to serve a national footprint.  Read story >

More Headlines

• Principals of cannabis ad platform Weedmaps back out of stock purchase. Read story >
• Arkansas can enforce hemp-derived THC ban, appeals court rules. Read story >
• Ohio lawmakers unlikely to change recreational marijuana law before break. Read story >

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Take the MJBiz Cannabis Business Survey!

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MJBizDaily is calling on cannabis business owners and professionals to share their expertise by participating in the MJBiz Factbook cannabis business survey. 

By participating in this short survey, you'll help shape valuable industry insights and benchmarks while ensuring the cannabis sector has access to key market, financial and operational data.

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