California Cannabis Businesses Fear State's Legal Industry Could Collapse
California Cannabis Businesses Fear State's Legal Industry Could Collapse
Cannabis companies across California say they are struggling to survive due to high taxes and illegal competition. NBC News’ Gadi Schwartz explains what’s killing their buzz.» Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC
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#California #Weed #Business
California Cannabis Businesses Fear State’s Legal Industry Could Collapse
I still buy off the street
Mama ain’t raise no fool
11.4 million in sales, 50% is tax, so 5.7 million, but you only made $136000. What happened to the other $434000 ?
I love watching people from Cali cry about ridiculous taxes. … kind of ironic.
I wonder how much the cartels are paying California to keep legal pot down.
They made their own bed/dug their own grave, they let their own greed bite them in the butt. That’s how blinded by money they where when they failed to put any underwriting details into the bill, they banked on the fact mom and pop growers "The 99%" would be shook from legal operation with high entry costs. And now it’s shaking them too.
“The cartels are back” , who is this clown? Lmao , most illegal growers are retired old white men who do it as a hobby 😂
Grow your own why should the thieving government get anything
glad I’m not in Cali. See people mentioning a 45% tax. If true that’s way out of bounds and needs to be changed immediately. Regardless of the item in question you CAN NOT charge that high a tax…
I’m not sure how businesses in MI are doing but here it’s [I believe]10% and that comes post sale alongside sales tax. Pricing, at least on edibles is pretty reasonable at $12-22 a bag depending on manufacturer. Even some edibles that were $22-24 just 1-2 years ago are down to $14 which leads me to believe both stores and the big brands are doing just fine here. Anyway throw in a 15% discount on Sundays for edibles w/ deals on every other product different days of the week….
Crimea River.
This is why if a state were to, legalize weed they have to go by Colorado and Oregon rules, otherwise it is going fail hard.
Over taxed and over regulated. What else is new in that state?
Same thing here in michigan. Taxes drive the prices sky high and people choose to get it off of a grower instead.
This is why Colorado or Oregon are doing well with the weed, they have had a much lower tax from day one.
The only good thing about Cali and now look smh
Business owners are so greedy…. Just pivot your business plan and stop complaining….
Too much competition.
Its California… grew over a pound in my backyard last summer and just planted my seeds for this year. No taxes, no cartels, just those pesky white flies and some caterpillars
I feel like California is the poster child for what not to do for a lot of things. Such a beautiful yet dumb state.
I feel no sympathy for wht men failing in the cannabis industry. Fk them
Who cares?
This is great news. Plus everybody knows the best weed comes from Colorado and Michigan anyway.
*…was in cannabis industry for 16 years…legal since 2016…*
*Something doesn’t seem right here.*
Government at it’s best! The Federal government shouldn’t get it’s cut as long as they keep it a schedule 1…
Lol have the fbi send me the rest of the money. Im missing around 3+ billion guys!
Prices drove me to stop buying and start growing.
I don’t know who to blame more the taxes are just California in general they seem to ruin everything
Oh No Do Not Cry now.. Every one of you who voted for legal cannabis HAS NO BUSINESS BEING ANYWHERE AROUND CANNABIS. PERIOD. You Idiots messed it up for everyone. People like me have been growing since the 80s . Black Market ONLY. I Hope All You Legal Cannabis Farms Crash. None of you can Actually grow good Cannabis anyways. Bunch of Garbage Weed.
Washington state seems to do just fine.
You guys need to do a full audit on Californian government finances because they are getting a butt ton of money from everywhere and the state is a toilet. I bet a lot of it disappears through corruption because it should be a way nicer state with it getting hundreds of billions in taxes, it’s going somewhere it can’t just disappear.
this is happening to every business not just the weed industry due to corruption and inflation
It seems like taxes always get over used for the government to make money
*I’m here from "Kansas and California Cops Used Civil Forfeiture to Stage Armored Car Heists, Stealing Money Earned by Licensed Marijuana Businesses."*
Should have left it to the streets
Wait California has "high" taxes noooooo say it ain’t sooooo
Cali spearheaded Lego cannabis and pulled in millions in taxes. They really needed it at the time. Now they are reliant on that tax $. It’s the states problem now.
The joys of doing business in CA!
get a new accountant…….. utilize write offs
This is all the economically iliterate people saying "wE cOuLd TAx iT!!! LegAlIze!" Why did you eve acquiesce to a tax for a mild, recreational drug?
Potheads smoking illegal marijuana? I swear I’ve heard this before.
Taxes are theft!!! #NOTAXES
Such a California problem. Lets SELL WEED! Lets TAX IT to DEATH! I will stick with Pennsylvania Rye Whiskey thank you very much.
Not to mention the cops are literally stealing their legal profits.
I’m about to start buying illegally again, the shop prices are debilitating.
Indoor broers have tricked an entire generation with misinformation and marketing. They think that only indoor can be top shelf. Indoor is prohibitively expensive to produce. In areas where is can be grown outside and isn’t is huge waste.
Everything the government puts their hands on fails..
As usual, California is giving us lessons in what not to do.
I don’t feel bad at all. It’s not like they let any black people get dispensaries.
🤣🤣🤣…. California is and always WILL BE the example for …. what NOT to do
That dude styles his hair with man chowder….
Guy needs to be locked up for that haircut alone