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Taxes – Cannabis - Myth
Taxes – Cannabis – Myth
Taxes – Cannabis – Myth
Taxes – Cannabis – Myth – California’s cannabis industry regularly complains that excessive rates are a major reason for California’s booming underground cannabis market. They are not. Excessive rates of tax are a factor, but tax rates are not close to being the most significant factor driving California’s underground cannabis market. The ineptitude of the California…
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Free Advice
Free Advice
Free Advice – Everyone knows the maxim “Free advice is worth what you pay for it” There are, however, exceptions. Everyone knows a second maxim “The exception that proves the rule” In this article, we provide free advice to the California Department of Tax and Fee Administration (“CDTFA”). We are providing free advice which we believe is valuable. Hence, our free advice in this…
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California Cannabis Oil Tax
California Cannabis Oil Tax
California Cannabis Oil Tax
California Cannabis Oil Tax – this article is the companion to our article relating to the impact of taxes on the sale of cannabis flower. Our earlier article provided a simple illustration of the impact of taxes on the movement of flower through California’s commercial cannabis market. This article provides a simple illustration of the impact of taxes on the…
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CCIA Policy Conference What’s Missing? CCIA Policy Conference What's Missing? CCIA Policy Conference What's Missing? - On Wednesday, March 20, 2019, the California Cannabis Industry Association (“CCIA”) will host its…
Cannabis Taxation – Reality Check
Cannabis Taxation – Reality Check
Cannabis Taxation – Reality Check
Cannabis Taxation – Reality Check – we spend quite a bit of time discussing taxes with business owners who are involved in California’s cannabis industry. We are appalled by the amount of misinformation that has formed the basis for business decisions and tax reporting by this group. We have not yet encountered a cannabis business owner who in our opinion was…
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CDTFA - Wrong Answer
CDTFA – Wrong Answer
CDTFA – Wrong Answer
CDTFA – Wrong Answer – we have written a half dozen posts that attempt to articulate the steps that CDTFA needs to undertake to:
Eliminate “Leakage” to Insure that Cannabis Cultivation Tax [“CCT”] and Cannabis Excise Tax [“CET”] which is collected by Distributors is remitted to CDTFA.
Overhaul the reporting and collection process so that it becomes easier for licensees to…
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CCT - CET Collection Mechanics
CCT – CET Collection Mechanics
CCT – CET Collection Mechanics
CCT – CET Collection Mechanics – we have discussed in other Posts our concerns about inadequacies in the information the California Department of Tax and Fee Administration [“CDTFA”] has distributed relating to the Cannabis Excise Tax [“CET”] and Cannabis Cultivation Tax [“CCT”] as well as inadequacies in the tax return CDTFA adopted[1]. We have also regularly…
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Lower Taxes Won't Help
Lower Taxes Won’t Help
Lower Taxes Won’t Help
Lower Taxes Won’t Help – though still in the early stages of the legislative process, several cannabis-related bills are being weighed in the California Senate and Assembly, which could lead to substantive changes in healthcare, research, taxation, banking, and public safety record keeping.
For those in the industry, financial relief may be on the way. As Cannabis Wire prev…
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