The Governor and legislative leaders agreed on a variety of provisions in the 2022-2023 budget agreement including one that would help cannabis business owners. AB 195/SB 195 would repeal the cannabis cultivate tax, revise the cannabis excise tax to be collected at the point of retail sale, and it would allow businesses to claim a credit of up to 25% of their qualified expenses (employment compensation, safety-related equipment, training and services, and workforce development and safety training) up to $250,000.
To review all budget provisions, click here.
