(FOX40.COM) — As of Tuesday, California’s cannabis excise tax has increased from 15% to 19%. It’s an adjustment that many businesses say could be detrimental to an already struggling industry.
The California Department of Tax and Fee Administration (CDTFA) is legally required raise cannabis tax every two years. But dispensary owners and legal experts warn this increase will hit far more than just customers’ wallets.
In Modesto, Jason David, owner of Jayden’s Journey, says the rising costs tied to taxes, fees and permits have already forced him to make tough decisions just to keep his business alive…