Assemblyman Matt Haney from the Bay Area plans to introduce a bill, AB 564, next week aimed at freezing an expected rise in cannabis taxes for local businesses across California this summer. This proposal comes at a time when cannabis taxes are set to increase statewide, potentially impacting the financial landscape for many local operators.
Haney’s initiative seeks to provide relief to businesses that are already navigating a challenging market. As cannabis taxes rise, local dispensaries and growers may struggle to maintain profitability, especially in a competitive environment where margins are often tight.
The assemblyman has emphasized the need for such a measure, stating that businesses require support as they adapt to the evolving cannabis landscape. As the summer approaches, the implications of these tax increases are keenly felt, prompting legislative action to protect local businesses during a crucial period.
