Benjamin Franklin once stated “in this world nothing can be said to be certain, except death and taxes.”
With the new year just around the corner it is important for cannabis businesses to ensure that they are up to date on current California tax regulations. Every step of the supply chain from cultivation to retail are impacted by taxes. It is imperative that business owners keep Informed about the updated cannabis tax regulations on both a State and local level.
The California Department of Tax and Fee Administration (CDTFA) has set up cannabis tax resources that can be referenced by anyone free of charge. These include breakdowns by type of business and provides individual tax guides and reference material. There are even helpful videos that cover the material to further aid in the understanding of specific tax obligations.
Each step of the supply chain for cannabis has specific tax obligations. It is imperative to your business that these tax guides are understood whether you are a cultivator, manufacturer, distributor, or retail operator.
To reference these helpful tax guides you can visit the CDTFA website.