The passing of Proposition 64 in 2016 legalizes recreational marijuana in California as of January 1, 2018. This will increase the opportunity for marijuana businesses to grow throughout the state.
According to an article from Forbes, California cannabis business owners are projected to make $5.2 billion in revenue in 2018, with about $1 billion in tax revenue lining state coffers.
But for every new road that is paved on the way to full legalization, there are numerous bumps along the road. California business owners expect plenty of marijuana regulations, with local governments in the state being given a great deal of jurisdiction over whether or not to allow commercial marijuana production and sales. Continue reading