California lawmakers on Friday revived a proposal to temporarily cut taxes on marijuana to help the state’s beleaguered legal market.
California lawmakers on Friday revived a proposal to temporarily cut taxes on marijuana to boost a legal market that one official said is “on the brink of collapse,” drawing encouragement from Gov. Gavin Newsom as he seeks to overhaul state pot regulators.
“With these steps, we believe that we will be supporting the regulated marketplace for cannabis in California. It will also help reduce and shrink the unlicensed, illicit market.”The tax cut was also supported by State Treasurer Fiona Ma and co-authored by three other legislators, including Republican Assemblyman Tom Lackey of Palmdale. He said Assembly Bill 1948 will “provide relief to an industry that’s clearly on the brink of collapse.
Even so, Newsom’s new budget proposes combining licensing and enforcement at three state agencies under a new Department of Cannabis Control by July 2021. Newsom has also proposed simplifying the tax structure by moving the point of collection for cannabis taxes from the final distributor to the first and the retail excise tax from distributor to retailer. He said such a plan wouldeliminate a need for the state to estimate an average mark-up rate on cannabis products to determine a wholesale tax rate that ensures the tax paid by the distributor is equal to 15% of gross receipts at retail.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
In rare Friday sermon, Iran’s Khamenei says U.S. suffered blow to ‘superpower image’The supreme leader spoke in Tehran, where he led Friday prayers for the first time in eight years.
Consulte Mais informação »
Iran's Supreme Leader leads Friday prayers for first time in 8 yearsIran's Supreme Leader Ayatollah Khamenei is leading Friday prayers in Tehran for the first time in eight years.
Consulte Mais informação »
This Famous Hair Dryer Brush Is Cheaper Than It Was on Black FridayThis is not a drill! The hair dryer that everyone was raving about during Black Friday is on sale for even cheaper RIGHT NOW.
Consulte Mais informação »
South Dakota Bill Aimed at Criminalizing Gender Transition Surgery for Minors Heads to Vote On FridaySouth Dakota’s Republican-majority House of Representatives is poised to vote on a bill that would make it a crime for doctors to perform gender-transition surgeries on anyone under 18—legislation that’s been fast-tracked to appear on the agenda for Friday morning.\n
Consulte Mais informação »