Study: CA not realizing revenue benefits of legal pot; industry wants to avoid costs of regulation

Study: CA not realizing revenue benefits of legal pot; industry wants to avoid costs of regulation

[Ed. – Your LOL for the day.  Emphasis in original.]

California’s trademark high taxes and overwhelming, onerous, costly and confusing regulations are preventing the state from reaping the revenue benefits of legalizing the $7 billion marijuana market, a new study by the California Growers Association concludes.

As of Thursday, California’s Bureau of Cannabis Control has sent about 980 warning letters to unlicensed pot sellers and ordered a marketing company to stop advertising vendors who don’t have permits, Bureau Chief of Communications Alex Traverso told CNSNews.com.

Less than one percent (0.78%) of the state’s 68,150 marijuana growers have obtained licenses, and as little as 25 percent of the cannabis consumed in California is currently being purchased from licensed retailers, “An Emerging Crisis: Barriers to Entry in California Cannabis – California Growers Association,” finds.

Trending: Could this be the real reason Rashida Tlaib canceled the trip to visit her grandma?

Continue reading →