> The inconsistency between state and federal law is causing enormous problems in the cannabis industry everywhere. [...] And almost more significantly, you end up having to pay a 70% effective tax rate because you're not able to take deductions on your federal taxes. So most businesses might pay 35%. You're paying 70%. That can be a huge cost for a small business.
Certainly unreasonable to attribute all of the 70% tax rate to California's "unchecked greed".
> The inconsistency between state and federal law is causing enormous problems in the cannabis industry everywhere. [...] And almost more significantly, you end up having to pay a 70% effective tax rate because you're not able to take deductions on your federal taxes. So most businesses might pay 35%. You're paying 70%. That can be a huge cost for a small business.
Certainly unreasonable to attribute all of the 70% tax rate to California's "unchecked greed".