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

Comments

  1. Oh those poor dopers and stoners!! Another boondoggle brought on by the stupid libs!

  2. “Unfriendly banks”…….Please, what is being “discussed” in this article is
    the inability for the marijuana industry to avail the services of Federal
    licensed banks; Marijuana is illegal under Federal law.
    Assemblyman Rob Bonta wants (Pot) businesses to have the same opportunities as legal enterprises. I assume that, if pushed to the limit,
    Federal taxes should not be levied within the State of California.

  3. California liberal progressives have already killed the golden goose.
    The cash cow is next.

  4. The state of California threw so many rules, regulations and taxes at the bar business that people finally quit drinking. They should be aware that they can tax the pot business out of their taxation reach also. What we got here is a bunch of people who don’t have a clue trying to tell everyone else what to do. Not only was it not easy, it didn’t happen.

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