An Assembly bill introduced this week in California would drop marijuana taxes dramatically for the next three years.
The bill would cut the sales tax on marijuana to 11% from 15% and would stop all cultivation taxes up until June of 2021.
According to Assemblymen Tom Lackey, R-Palmdale, who authored the bill with Rob Bonta, D-Oakland, “We need to give legal businesses some temporary tax relief so they do not continue to be undercut by the black market.”
Beau Whitney who is the senior economist at New Frontier Data has said, “Reducing this gap is critical to making the legal market more competitive against the illicit market and more attractive for consumers.”
