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California pot companies warn of impending industry collapse
ktla ^ | Dec 17, 2021

Posted on 12/17/2021 1:28:37 PM PST by BenLurkin

The industry leaders asked for an immediate lifting of the cultivation tax placed on growers, a three-year holiday from the excise tax and an expansion of retail shops throughout much of the state. It’s estimated that about two-thirds of California cities remain without dispensaries, since it’s up to local governments to authorize sales and production.

Companies, executives and groups signing the letter included the California Cannabis Industry Association, the California arm of the National Organization for the Reform of Marijuana Laws, the Los Angeles-based United Cannabis Business Association, Flow Kana Inc., Harborside Inc., and CannaCraft.

In a conference call with reporters, Darren Story of Strong Agronomy said tough market conditions forced him to cut loose more than half his staff. He said taxes that will increase next year make it an easy choice for shoppers. With prices in the underground half of what they see on legal shelves, he said “most consumers are going to take off.”

The companies asked Newsom to include their proposals in his upcoming budget proposal, which will be released early next year.

(Excerpt) Read more at ktla.com ...


TOPICS: Business/Economy
KEYWORDS: california; companies; dope; drugs; industry; pot
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To: E. Pluribus Unum

Ain’t that the truth. And they are just people like everyone else.


61 posted on 12/17/2021 6:07:02 PM PST by Bonemaker (invictus maneo)
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To: BenLurkin

If you tax commerce too heavily, it goes underground. DUH!


62 posted on 12/17/2021 6:16:45 PM PST by Blue Collar Christian (I'm a nationalist.I'm white.How does that make me racist?)
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To: Hammerhead

I had it in college—several times—and really did not like it.

But—I know a lot of folks who enjoy it and have no problem with them smoking in my presence.

The one area that is not widely enough discussed (imho) is the effect on driving while high.

I did that once, and still get nightmares thinking about it—it was even worse than drunk driving.


63 posted on 12/17/2021 6:26:13 PM PST by cgbg (A kleptocracy--if they can keep it. Think of it as the Cantillon Effect in action.)
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To: Brilliant

You left out attorneys, Morgan & Morgan, “for the people “ , in Florida


64 posted on 12/17/2021 8:24:12 PM PST by drSteve78 (Je suis Deplorable. STILL)
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To: Hammerhead

“Same think as having a drink or a glass of wine……?”

Dude, RELAX, he is not even Looking for your stash…….Dave, Dave’s not here, man….


65 posted on 12/17/2021 8:30:59 PM PST by drSteve78 (Je suis Deplorable. STILL)
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