California offers marijuana firms tax-related help to cope with COVID fallout
Posted On April 23, 2020
- California’s struggling cannabis industry , beset with high compliance costs and taxation, is in line to benefit from new state guidelines enacted to help businesses survive the global coronavirus pandemic .
- The assistance a mix of extensions, relief and deferrals is a lifeline that can allow many marijuana companies to maintain operations and meet payroll, according to industry officials.
- Under the state’s new assistance guidelines, Humboldt Growers Network expects to have its payment plan and taxes deferred as well as its penalties erased.
- A suspension of the cultivation tax for a limited time would be enormously helpful, and a reduction of the excise tax would also be helpful.
Read full article: mjbizdaily.com