Terp Bros faces a staggering 52% income tax after product costs, significantly higher than traditional businesses at 36%, underscoring the challenges in the legal cannabis market.
Legal cannabis dispensaries are grappling with a variety of challenges, including higher taxation and increased competition from an unregulated market that surged after legalization.
Despite the challenges, licensed dispensaries like Terp Bros are seeing rising sales as authorities crack down on illegal shops, but customers still face higher prices.
To remain competitive, dispensaries need to operate efficiently, given that legal products come with added costs like compliance, marketing, and hefty taxes.
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