Valley cannabis business owners warn of 'impending industry collapse' under excessive taxes

Valley cannabis business owners warn of 'impending industry collapse' under excessive taxes

Valley cannabis business owners warn of ‘impending industry collapse’ under excessive taxes Cannabis leaders in California's capitol and in the Coachella Valley are warning the industry could soon collapse under excessive taxation. Local cannabis business owners in the valley say some shops are on their last leg – and there's a new push to city leaders to lower taxes so they can stay afloat. CEO of West Coast Cannabis Club Kenneth Churchill has three locations in Palm Desert and Cathedral City. He said he's paying more than $1 million per year in local taxes, on top of a 15% state tax and the standard 8% sales tax. "Taxes in the cannabis industry are significantly higher than the cost of doing normal business," Churchill said. "If a customer comes in and …
More on: kesq.com