A bill that would provide relief to California businesses unable to bank because of the federal ban died in Assembly committee on Thursday. Sponsoring Democrat Rob Bonta had hoped to temporarily drop the state sales tax to 11% while suspending cultivation taxes for two and a half years. It can be reintroduced next year.
CNBC
Quick Hit
- Governor Newsom’s proposed budget trailer bill does indeed propose an open-ended extension of provisional licenses. But it also significantly alters the entire system of provisional licensing, according to one cannabis attorney.
Omar Figeuroa
