Will Cutting Taxes on Cannabis Growers Help Them Survive Crashing Wholesale Prices?
On the 13th, the Governor of California Gavin Newsom sent out his 2022-23 adjusted budget, of which the so-craved tax cuts were the most noteworthy. On the 29th of June, the Senate passed Assembly Bill No. 195 by a 34-0 vote, and the California Assembly also voted 66-0 for the bill to be passed. The bill came into effect right after the signature of Newsom, giving the legal marijuana industry some much-deserved tax relief, although temporary, which started on the 1st of July.