California repeals cannabis cultivation tax

In Politics by Michael Rae

On June 30, California Gov. Gavin Newsom signed  Assembly Bill 195.  The new law makes multiple reforms to California’s regulated cannabis market that were recommended by the Reason Foundation, including the repeal of the state’s wholesale tax on cannabis cultivation. 

As MJ Biz Daily reported:

Gov. Gavin Newsom signed California’s 2022-23 state budget into law and, in doing so, enabled a significant shift in cannabis taxes that had long been sought by the industry.The finalized budget eliminates the state marijuana cultivation tax and caps the 15% excise tax where it’s at for a minimum of three years.Taxes have been one of the