San Francisco cannabis operators struggling with burdensome regulations, major price drops from overproduction and competition from the illicit market may receive relief in the form of postponement of a city tax.
The tax on cannabis businesses, approved by voters in 2018, has been delayed multiple times already. Intended to go into effect in 2019, it was previously postponed to the end of 2021, and then again extended via legislation to the end of 2022.
The Board of Supervisors Budget and Finance Committee voted on Wednesday to recommend kicking the can further to Dec. 31, 2025, in the face of serious headwinds for legal cannabis operators, who face challenges ranging from banking restrictions to theft at dispensaries.
– Read the entire article at The San Francisco Standard.