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Pot Is Legal In California. So Why Are Pot Tax Revenues Falling?

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Why Are Pot Tax Revenues Falling?
“It’s obvious on its face that the legal sales are taxed and therefore more expensive. So, everyone is going to the black market or getting it from a friend down the street, and therefore avoiding the taxes,” said John Loudon, Vice President of Public Affairs at Engineered Tax Services.

The legalization of cannabis for recreational use in some states has brought up a number of regulation uncertainties. California saw an unpredicted fall in tax revenue from cannabis tax. Would a tax break for the marijuana industry help boost revenue?

Watch the segment above or on our Facebook page.

Editor’s Note: Engineered Tax Services is a Bold sponsor 

Photo Credit: Flikr (Rick Obst)

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