Andrew writes for Forbes
Writing—and reading—about taxes is about as interesting as watching paint dry. Tax policy is wonky, complicated, and boring. You may not last past this sentence unless you happen to be part of the cannabis industry in California, where the state excise tax is set to increase on July 1.
As it stands now, the excise tax in California is 15% on every purchase of marijuana by consumers at the retail counter. It’s set to go up to 19% on July 1, unless assembly bill 564 (AB 564) passes the California legislature and then gets signed into law by Governor Newsom.
Lowering taxes is a tall order for any industry in California, let alone the weed industry, which pays much higher taxes than wine, cigarettes, and even firearms. It’s informative to look at this data.
