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California News / Featured News / Politics

In second year of legal weed, California’s cannabis industry still struggles

in-second-year-of-legal-weed,-california’s-cannabis-industry-still-struggles

As year two of legal cannabis sales in California comes to a close, shoppers are still more likely to buy marijuana from illicit sellers than from state-sanctioned stores that pay taxes and test their products for safety.
California’s 7,000 licensed cannabis businesses — and the state’s tax revenue — are feeling the pinch.
Prominent cannabis companies that a year ago were growing aggressively have, in recent months, laid off hundreds of workers. They say hefty taxes, onerous regulations and competition from a thriving illicit market are forcing them to scale back operations.
Read the rest of this story on ocregister.com.

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