Oren Bitan, Featured in L.A. Times B2B Business of Cannabis Roundtable
August, 2022 - Los Angeles, California
Shareholder Oren Bitan was featured by the L.A. Times B2B Business of Cannabis Roundtable.
"Oren Bitan, Shareholder, Buchalter: Doing business in California’s legal cannabis industry remains a risky endeavor. The majority of the industry is still unlicensed, tax rates at the state and local levels are high (notwithstanding a recent reprieve from California’s cultivation tax), and there are not enough licenses to meet geographic demand throughout the state. By all counts, the majority of the industry in California is unlicensed. Consumers are price sensitive, so fully compliant licensed entities are competing with unlicensed entities that do not test products and do not pay any taxes. Enforcement at the municipal and state levels is therefore essential to preserving and expanding the licensed industry. In addition, we are seeing continuing consolidation among California-based operators, but multi-state operators have not yet taken over the California market."
To read full article, click here.
