California Governor Proposes a Cannabis Tax Reduction in an Effort to Shore Up the Legal Market
Cannabis Law Report
MAY 16, 2022
Gavin Newsom introduced proposed revisions to his 2022-2023 budget proposal, which would eliminate the cannabis cultivation tax rate beginning July 1, 2022. The 15% excise tax on cannabis sales would remain, and the collection and remittance of that tax would be limited to retail sales beginning January 1, 2023.
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