California’s Department of Tax and Fee Administration announced Wednesday that revenue from the year’s first quarter was $134.9M. The numbers should be taken with your doctor’s maximum daily allowance of salt; about half of taxpayers usually reporting have not yet filed.
- Here’s a breakdown of the incomplete figures: $68.3M in excise taxes and $50.2M from sales taxes. Cultivation taxes brought in $16.4 M.
- The revenue numbers are $42.4M less than the previous quarter. For the last three months of 2019, the department reported $177.3M in weed tax revenues: $85.9M from excise taxes, $67.3M from sales taxes, and $24.1M in cultivation taxes.
- Since legal marijuana debuted in January 2018, 1.17B in tax revenue has been collected. That includes $569.8M in cannabis excise taxes, $456.9M in sales taxes$140.2M in cultivation taxes.