Cannabis Tax Reform Bill in California 1 Credit
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The California cannabis system is a nationwide mockery and a public policy lesson in what not to do. The opportunity to create a robust legal market has been squandered as a result of excessive taxation. The cultivation tax undermines the viability and sustainability of California’s cannabis industry, being the only agricultural product in the world that is taxed at the farm.
As a result, consumers can buy cannabis products for less than half the cost from non-licensed vendors compared to similar products purchased in licensed retail dispensaries. The illicit market in California is much larger than the legal market. Licensed cultivators, manufacturers, distributors, and retailers are struggling to compete with their non-licensed counterparts.
The new cannabis tax reform bill in California discontinued the cultivation tax. It imposes an excise tax on purchasers at a rate of 5%. and requires the retailer to collect the tax from the consumer and remit it to the state.
Join this Online CE/CPE Tax webinar to understand the new Cannabis Tax Reform Bill of California i.e. Senate Bill 1281.
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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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I take a personal interest in my clients and specialize in helping them find solutions to all of their business and individual needs. This means that my clients trust me on a wide range of legal and financial issues that affect their daily lives.
After an early career as a professional pianist, I began to do Tax Preparation for myself and my fellow musicians. This experience is one component of my ongoing practice of providing legal representation to individuals in contracts. I also saw the necessity of protecting assets through Wills, Trusts, and Estate Planning.
In addition to my tax and legal expertise, I have ten years of experience as a Special Education Teacher with NYC Teaching Fellows. Because of this, I have seen firsthand the importance of providing legal representation for those with special needs. The problems faced by these individuals are not abstract concepts to me.
I am a graduate of Brooklyn Law School with a Certificate in Intellectual Property, Media, and Information Law. While in law school, I won the Center for Urban Business Entrepreneurship (CUBE) competition for an app design to help Indie Filmmakers in developing contracts. Additionally, I won Regional Law School Mediation competition. This award alone is indicative of my ability to find solutions.
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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
MH
I knew very little about Ca cannabis tax laws. This was an eye-opener. Even though I may never get involved with a cannabis related tax return, just having the knowledge this course provided gives makes me a better-informed tax preparer. Thank you, Paula Collins.
MB
This was a complex topic that Paula was able to explain very well. The problem example really highlighted how the various taxes compounded the price of the product so much that almost anyone would turn to the cheaper unlicensed sellers.
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