Gov. Gavin Newsom is recommending a major overhaul to how California regulates its multibillion-dollar cannabis industry, with changes aimed at streamlining oversight and tax collection included in the proposed state budget he released Friday morning. Industry leaders are applauding the proposals, which are expected to ultimately make things easier for licensed businesses to navigate the legal market and compete with illicit operators. “Today’s announcement from the governor marks a turning of the tide,” said Jerred Kiloh, board president for the Los Angeles-based United Cannabis Business Association trade group. Read the rest of this story on ocregister.com.
California’s struggling cannabis industry didn’t get the recommendation many hoped for — a call to sharply lower the industry’s tax rate — but a long-awaited state report did suggest a marijuana tax overhaul. The report from California’s nonpartisan Legislative Analyst Office, released Tuesday, Dec. 17, says lawmakers should ditch the way the state currently taxes marijuana and, instead, tax cannabis at different rates based on its potency. Such a tax structure, the report said, would result in stable revenue and discourage cannabis abuse. The report — the first of its kind since voters legalized cannabis three years earlier — also recommends California quit making licensed cultivators pay a tax based on the weight of marijuana they grow. Read the rest of this story on ocregister.com.
A recent survey of cannabis companies suggests future entry-level employees will see better pay in Denver thanks to a new law that will increase the city’s minimum wage to $15.87 by 2022. Daniel Brenner, Special to the Denver PostBudtender Isaiah Riley assists a customer Thursday, March 28, 2019 at Terrapin Care Station in Aurora. At least one operator is ahead of the curve. Boulder-based Terrapin Care Station this month announced it was establishing a company-wide $15 minimum wage, a figure that will outpace Denver’s incremental increases for the next two years. Read the rest of this story on DenverPost.com.