SACRAMENTO, Calif. — California’s legal marijuana industry will have to wait for a tax cut. In some areas, combined state and local taxes can approach 50 per cent. Earlier this month, state cultivation and excise taxes fell far below projections for the first three months of the year. California imposes a 15 per cent excise tax on pot and separate taxes on cultivation, along with regular sales taxes. Lackey’s measure, AB3157, would have lowered the state excise tax to 11 per cent and suspended cultivation taxes for three years.

Source: National Post May 25, 2018 23:26 UTC