Long Beach Lowers Cannabis Taxes

Supporting the regulated cannabis community saves jobs.

Long Beach, CA, February 13, 2020  The Long Beach Collective Association (“LBCA”), cannabis business owners, policy advocates, patients, consumers, and city officials came together to support the city’s legal cannabis business community, lower taxes, and fight the illegal market. In December 2019, the Long Beach City Council voted to lower the city’s tax rate from 6% to 1% for cannabis manufacturers, distributors and testing laboratories. On January 7, 2020, the council voted to formally amend the city’s cannabis tax ordinance reflecting the revised 1% tax rate which takes effect on February 13, 2020.

“There’s no question that high tax rates drive people to the cheaper illicit market increasing public safety concerns,” said Adam Hijazi, President of the LBCA. “Lowering the tax rate will also help keep more jobs in Long Beach because it helps keep prices competitive. We believe in #BuyLegal.”

The successful effort to lower taxes was a grassroots, community effort to effect change in the Long Beach cannabis …

Full story available on Benzinga.com

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