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.
They also hope the support ultimately leads to more substantive regulatory changes, particularly the lowering or suspension of certain taxes.
The following business-friendly initiatives have been implemented by the California Department of Tax and Fee Administration (CDTFA), the Office of Tax Appeals and the Franchise Tax Board since Gov. Gavin Newsom declared a state of emergency in early March:
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