Will tax breaks and banks help California’s struggling marijuana industry?

marijuanaUnfriendly banks, high taxes and black-market competitors are some of the obstacles that licensed cannabis companies say hold them back as they try to cultivate a new industry in California.

Some California lawmakers want to give them a hand, and they’re considering a set of bills that would in ways great and small fine tune the law governing recreational marijuana.

“We’re all in this for the long haul,” Assemblyman Rob Bonta, D-Alameda, said at a press conference Monday. “It’s incumbent on us to continue to monitor what’s happening and course correct if necessary.”

Some of the bills aim to give cannabis businesses the same opportunities as others — such as access to state tax deductions or the ability to bank — while others look to provide relief to legitimate businesses locked in a losing battle with the black market. …

Click here to read the full article from the Sacramento Bee