San Jose, a city known for its thriving cannabis industry, is facing a significant drop in cannabis tax revenue this year. The decline, projected to be in the millions, is attributed to the growing competition from the black market and cannabis delivery services. With a predicted $19 million budget shortfall…
State regulators have suspended hundreds of marijuana business permits, in effect halting some 5 percent of the state’s legal cannabis business operations, disrupting supply chains and retail/distribution networks statewide. Some 400 companies have been ordered to halt all transactions until they ensure their licenses are brought up to “active” status.…