Manonthestreet
Diamond Member
- May 20, 2014
- 35,734
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IF I know democrats they budgeted in the amount they thought it would generate.
California's pot shops have been only open a year. They're already lobbying for a tax cut
There are far fewer licensed cannabis businesses than had been expected and tax revenue — which officials had estimated could reach $1 billion — is trickling in at a fraction of what was anticipated. The black market for marijuana is still thriving.
Now, several lawmakers and State Treasurer Fiona Ma have introduced Assembly Bill 286, which would temporarily slash cannabis taxes in an effort to entice illegal marijuana businesses to enter the legal market.
California's pot shops have been only open a year. They're already lobbying for a tax cut
There are far fewer licensed cannabis businesses than had been expected and tax revenue — which officials had estimated could reach $1 billion — is trickling in at a fraction of what was anticipated. The black market for marijuana is still thriving.
Now, several lawmakers and State Treasurer Fiona Ma have introduced Assembly Bill 286, which would temporarily slash cannabis taxes in an effort to entice illegal marijuana businesses to enter the legal market.