A SUBSTANTIAL TAX HIKE for California’s faltering legal cannabis market has taken effect, despite an aggressive industry campaign to suspend the increase that won the support of Gov. Gavin Newsom and other political leaders.
The excise tax for weed is 19% as of July 1, up from 15% — the result of a political deal three years ago that was intended to buy more time for the legal market to stabilize but which cannabis business operators now warn could chase away customers and push them over the edge.
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