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California Cannabis Tax System Would Simplify Under Newsom Plan

May 13, 2022, 8:50 PM

California would eliminate a tax on cannabis cultivation and simplify excise tax collection to help stabilize the market for legal growers and sellers under a proposal from Gov. Gavin Newsom.

The Democratic governor’s proposal is part of negotiations with lawmakers to change taxes on cannabis, which was legalized for recreational use in 2018. It is included in his revised $227.4 billion budget plan for the fiscal year that starts July 1 that he released Friday.

Lawmakers and the governor are looking for ways to reduce and simplify the tax system while keeping revenue ...

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