California lawmakers nix marijuana tax cutPosted by On



SACRAMENTO, Calif. (AP) — An effort to jumpstart California’s licensed marijuana retailers failed to clear a key legislative committee on Thursday, likely dooming its prospects for the year as the country’s largest legal cannabis industry continues to flounder in the shadow of the illegal — and tax free — black market.

Prices for legal marijuana products are inflated in California by the 15% tax consumers have to pay at the cash register and a cultivation tax on growers of $148-per-pound for the flower and $44 per pound for the leaves.

A group of state lawmakers, led by Democrat Assemblyman Rob Bonta, had hoped to temporarily lower the sales tax to 11% and suspend the cultivation taxes for 2 ½ years to help retailers compete with prices on the black market.

A Bonta spokesman said he had agreed to eliminate the sales tax portion of the bill in the hopes it…



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