RE: Cannabis News - California Considers State Bank For Cannabis Industry, Banking vs Cryptos, MJ Facts.
@vinmaru, again thanks for the continued weed info. Hey I’m in California right now, been in this state since September last year when an oil vile was $25 and an Oz was $140 at the same shop. Now that it’s ‘legal’ here, that vile costs $49 and that same Oz is $195. When I asked about the increase, the shop got a good laugh and I was told the state tax remained the same and since it’s ‘legal’ now, there’s an additional 17% tax on top of the 10%! Ridiculous, if you ask me. Not only that, but since it’s ‘legal’ now, it’s officially Illegal to carry the bag on the sidewalk when you exit the store to go to your car.
Am I missing something here? The law made it legal and coincidentally made it illegal to possess, illegal to smoke and doubled in price.
Sorry for the winded response but ever since January 1st, the industry around here has gone to sh.... poop. I guess my question to you would be:
How long do dispensaries stand a chance to keep their doors open now cuz I sure won’t visit them anymore? That goes for most everyone I know as well. Thanks for reading!
Califonia has to be the worst state when it comes to taxes... I made some comments about the price of weed in Cali on a LinkedIn thread. Even in Canada, we expect a pretty hefty tax on "legal weed", looks like in Ontario we are going to be paying 13% HST tax and $1 per gram, so on a $10/gram price, the final could be $12.30. We won't have dispensaries in Ontario, the distribution will be done by a gov't agency/company "Cannabis Control Board of Ont", so they will make the markup from wholesale to retail.
Cannabis growers and dispensary operators won't be making much money from "Legalization", the governments will make the most. In the US, it could be worse... even if a legal business can tweak out a profit, there is always the risk that the Fed will come in and take their cut in "taxes" or theft by Jeff Session's Pot Posse. They will stay open as long as the owners have money or investors realize there is no real % return or upside on their money, but for now the money is still flooding into the sector and will continue for awhile.
This is why the grey market will continue and possibly even thrive. The best thing anyone can do is grow for themselves, or find a good buddy who is growing. HomeGrown is probably better than any "legal" weed, and this way you are not supporting "The Man" with more tax money.
Thanks, Nailed it! Dispensaries have been convenient for about a year, strictly a convenience and now they’re not even that anymore.
Ps - Jeff Session’s has a gravity bong in seltzer water that’ll put you to sleep!