Calif. Industry presses for tax break after Newsom snub

California's cannabiz is still pushing to repeal a coming excise tax hike, despite Gov. Gavin Newsom leaving it out of his proposed state budget this week. If industry efforts fall short, flailing operators will be hit with an excise tax hike from 15% to 19% on July 1.

Falling pot tax revenue, deeply indebted operators and another major player, Gold Flora, going into receivership are just a few signs of the industry's crisis. Now they fear the excise tax hike will push . . .