Social Impact
What’s happening? Some say the opening of legalized cannabis hasn’t been open for small and diverse businesses.
Why is this important? The legislation that legalizes cannabis operations has steep license & impact fees that keep small operators out of the industry. Massachusetts have start up costs and impact fees are near $1 million. Some sates like Washington have 25% taxes on each level of the business (growing, distributing, and retail) in addition to sales tax.
How will this be important? In the last 2 years, while tax revenues increase from cannabis, minority executives in cannabis have dropped 15 points to 13%. To turn this around, the start up costs and impacts to small business operators are to be addressed.
Governing | A Shrinking Opportunity for Equity in the Weed-o-Sphere
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