Dec 17

United Cannabis Business Association Statement in Response to LAO Report

Sacramento, CA – The Legislative Analyst’s Office (LAO), today released a report “How High? Adjusting California’s Cannabis Taxes” detailing recommendations around taxation in California’s legal cannabis industry. The LAO’s report follows last week’s announcement from the California Department of Tax and Fee Administration (CDTFA) of additional increases in excise and cultivation taxes on operators.
 
UCBA President Jerred Kiloh offers the following statement in response:
 
“We greatly appreciate the work done by the state to produce this report, which helps to paint a clear and comprehensive picture of the complex challenges we are facing in the legal industry – the current rate of taxation simply does not allow our industry to compete with the illicit market where untested products are being sold at a lower cost and higher volume to consumers who are unaware of the health risks.
 
“The LAO report represents the foundation for the work that we must now do to identify an appropriate level of taxation that will move buyers away from the illicit market so that we can safeguard the health of Californians while paving the path for long-term state revenue growth that is backed by a stable legal cannabis industry.”
 
ABOUT UCBA
 
The United Cannabis Business Association is the premier trade association representing California’s licensed retailers. From introducing ballot measures locally and legislation at the state, to taxation issues, licensing and social equity programs, UCBA is the leading voice for legal cannabis in the state. UCBA works with cannabis cultivators, manufacturers and distributors to establish a strong statewide community and advocate for good policies and reforms that protect and enhance the vitality of our industry.

United Cannabis Business Association Media Contact:

Sarah Melbostad
smelbostad@fionahuttonassoc.com
(415) 717-6889