California Lawmakers Vote to Repeal Upcoming Cannabis Excise Tax Hike - Merry Jane

California Lawmakers Vote to Repeal Upcoming Cannabis Excise Tax Hike - Merry Jane

California’s cannabis market has faced some major growing pains — and taxes have played a big role. In 2022, Governor Gavin Newsom signed Assembly Bill 195, which eliminated the state’s cultivation tax to help struggling growers. However, the bill also included a ticking time bomb: a scheduled increase in the cannabis excise tax from 15% to 19%, set for July 1, 2025. At the time, lawmakers agreed that if cannabis tax revenues didn’t hit certain …