California Eliminating Cultivation Taxes on Marijuana, Keep Excise Tax at 15%
There's more good news coming! The finalised language about the issues related to cannabis tax was made public this week in a budget trailer bill for the state of California. Months of heated discussion on the subject have shockingly come to an end. And it appears that the cannabis sector has triumphed with a respectable result. According to the most recent discussion and Hirsh Jain's analysis of the proposal, the trailer bill would eliminate the state taxes on cannabis growing while keeping the 15% excise tax in place for the following three years. The prior plans that were debated in the California state Capitol will, however, be modified in 2026. Additionally, under this trailer law, social justice marijuana businesses would pay a lower tax rate of only 12% and receive a $10000 tax credit. This trailer bill establishes the statutory changes required to carry out the budget and move on as other measures do. However, based on majority voting, it had immediate implications for...