Home Current News California boosts pot taxes, shocking unsteady industry

California boosts pot taxes, shocking unsteady industry

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California boosts pot taxes, shocking unsteady industryCalifornia is increasing business tax rates on legal marijuana, a move that stunned struggling companies that have been pleading with the state to do just the opposite. Hefty marijuana taxes that can approach 50 percent in some communities have been blamed for pushing shoppers into California’s tax-free illegal market, which is thriving. Industry analysts estimate that $3 are spent in the illegal market for every $1 in the legal one.

Source: yahoo.com/news