We’re only in mid-month January and 2020’s Golden State legal market narrative already has its throughline: This spring Gov. Gavin Newsom will reveal the details of the cannabis oversight revamp proposed last Friday and the healing shall begin.
What we know right now is that a new office will emerge, and that spring will bring specifics on two key tax changes.
Cannabis Wire/Canna Law Blog
- Gov. Newsom’s conversations with industry stakeholders have led him to consider broad tax reductions. Less obviously, but also certain to bring considerable impact: California will also be changing the point of collection for some taxes. Under the proposed plan, the first distributor in the chain would remit the cultivation tax, while retailers would be responsible for the excise tax.
- The new office would consolidate the duties of the Bureau of Cannabis Control, California Department of Public Health, and California Department of Food and Agriculture by July of next year.
- A recently closed $15M bridge round was supposed to “keep the lights on” at Eaze. Instead, the first cannabis company to draw funding from Big Tech is reportedly facing layoffs as it attempts a pivot.
- The Western map spots where prohibition is less this week include Hawaii, where decriminalization just kicked in, and Placerville, which has allowed three new retail operations.
Marijuana Moment/Mountain Democrat
- San Francisco has implemented a new cannabis application portal. Anyone who has struggled through an unwieldy government site is begging their deities to bring such tech to their neck of the woods.