SAN DIEGO — California’s cannabis tax has been rolled back, dropping from 19% back to 15% as of October 1. The change comes just months after the state increased the rate in July, and while it’s welcome news for customers and dispensaries, industry leaders say challenges remain.
“It’s a great move, because we need the regulations, but we also need to be affordable right now, especially in this economy,” said Alex Ayon, CEO and partner of Sessions by the Bay, a dispensary and cannabis lounge in National City.
Governor Gavin Newsom signed off on the rollback, saying the goal is to help legal businesses compete with the tax-free, illegal cannabis market…