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. “Taxes in the cannabis industry are significantly higher than the cost of doing normal business,” Churchill said. Jocelyn Kane with the Coachella Valley Cannabis Alliance Network said high taxes are pushing customers out of legal dispensaries and into the black market. But cannabis taxes were always part of the deal, Kane said, with California cities and something business owners should expect.