California pot companies warn Gavin Newsom his tax on legal weed is putting them out of business

[The Aspie Toker]

California pot companies warn Gavin Newsom his tax on legal weed is putting them out of business because their cannabis is now twice the price of what it costs on the street

Leading California cannabis companies warned Gov. Gavin Newsom that the state's legal industry was on the verge of collapse and needed immediate tax cuts and a rapid expansion of retail outlets to steady the shaky marketplace.

The letter signed by more than two dozen executives, industry officials and legalization advocates followed years of complaints that the heavily taxed and regulated industry was unable to compete with the widespread illegal economy, where consumer prices are far lower and sales are double or triple the legal business.

Four years after broad legal sales began, 'our industry is collapsing,' said the letter, which also was sent to legislative leaders in Sacramento on Friday.

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