When California celebrated recreational cannabis on January 1, there were jubilation and cheers. Rightly so. Since then, there have also been some growing pains, most notably bureaucratic red tape (as expected) and taxes (no surprise) that have forced dispensary owners to raise prices.
In this piece from the SF Weekly, reporter Zack Ruskin talks about how those higher prices have driven long-time dispensary customers in California to grow their own cannabis. (Interestingly enough, in Oregon, the prices are dropping because of an over-abundance of crops.)
However, there might be a temporary solution: AB 3157, a California Assembly bill that would reduce the state’s excise tax from 15 percent to 11 percent and temporarily suspend a cultivation tax imposed on growers.
Read how our client, BPG, who’s exclusively interviewed for the piece, explains the hurdles—and the opportunities.