- California’s Cannabis Excise Tax Generated $68.3M For the 1st Quarter 2020 and the Cultivation Tax Generated $16.4M
- As of May 15, 2020, California’s cannabis excise tax generated $68.3 million in revenue reported on the 1st Quarter 2020 returns due by April 30, 2020, and the cultivation tax generated $16.4 million.
- Total tax revenue reported by the cannabis industry is $134.9 million for 1st Quarter returns due by April 30, 2020.
- Previously reported revenue for 4th Quarter 2019 returns was revised to $177.3 million, which included $85.9 million in cannabis excise tax, $24.1 million in cultivation tax, and $67.3 million in sales tax.
Read full article: kymkemp.com