California’s cannabis industry is considered essential, but it’s struggling in the wake of the COVID-19 pandemic. It was already grappling with high taxes, soaring compliance costs and fierce competition from the black market.
Now, as our L.A. cannabis business lawyers can explain, companies are slated to receive a number of state benefits, and perhaps even federal aid in order to ensure their survival.
Marijuana Business Daily reports the state is planning to offer a number of extensions, relief and deferrals that should allow many pot shops, manufacturers and growers to keep operations chugging along and also meeting payroll. Many are hoping that this could ultimately lead to substantial, longer-term regulation – especially where taxes are concerned. Continue reading