Cali Tax Credits for Cannabusinesses
According to Wolters Kluwer, Cali is now offering two new tax credits for cannabusiness operators for the tax years 2023 through 2027. There’s one that’s for “high-road” employers who meet certain employment requirements. The other option is for cannabis equity licensees.
Taxpayers are now allowed to claim these credits against corporate franchise and income taxes or personal income tax. With this in mind, these credits are a component of a larger cannabis tax relief bill.