Calif. confirms 25% excise tax hike

California's tax agency confirmed Thursday that it would to raise the cannabis excise tax from 15% to 19%, the maximum possible increase, starting July 1. Stopping the tax hike is a top priority for the state's sputtering industry which argues higher taxes push consumers to buy on the illegal market.

The change dates to revenue guarantees in the 2022 cannabis tax law for the non-profit groups receiving pot taxes for public . . .