Two San Jose cannabis dispensaries, MedMen and Herbs, have temporarily shut down due to different reasons, potentially causing a significant loss in tax revenue for the city. Industry experts attribute the closures to the impact of high taxes and fees, and fear it could drive customers to the black market for cheaper cannabis products. The city may miss out on millions if the shops permanently close. Regulatory challenges and high operating costs are hurting the legal cannabis market in San Jose, leading to concerns about the increase in illegal pot sales. San Jose is implementing measures to ease the burden on cannabis businesses and considering changes to the cannabis division’s responsibilities to address these challenges.
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Written by: Jana Kadah
Published on February 6, 2024 at 03:38AM
Source: San José Spotlight (opens in new tab)