By Mike Curley (May 6, 2022, 6:41 PM EDT) — Three advocacy groups are urging California to eliminate a cultivation tax on legal cannabis, saying in a study announced Friday that the move can increase sales and bring in more tax revenue while helping the legal market compete with illegal sales.
In the study, Reason Foundation, Good Farmers Great Neighbors and Precision Advocacy said eliminating the cultivation tax and reducing the excise tax on cannabis products could increase cannabis-related tax revenue by 23% by 2024.
According to the study, California’s cannabis market is failing to meet expectations despite the state being the largest market for cannabis in the country, with nearly…
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