In early January, California Governor Gavin Newsome announced the budget for 2020. As a part of the budget plan, Newsome added that there would be some tax reform coming to the state in the next year or so - most notably streamline the way taxes are collected by state officials.
Industry experts California Cannabis Industry Association believe these streamlined processes could mean that taxes are reduced - a welcome occurrence as California legal retail locations still must compete with a thriving black market. The tax reforms could also mean that companies also remain in compliance more easily.
"As challenges have arisen, these members reach out to find out how to stay in compliance, and they’ve been getting different answers from different departments because they have different interpretations of the regulations,” said Josh Drayton, communications chief for the California Cannabis Industry Association (CCIA).