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SACRAMENTO – The California Department of Tax and Fee Administration (CDTFA) reported cannabis tax revenue for the second quarter of 2024. As of August 16, total cannabis tax revenue from second-quarter returns is $263.1 million. This figure includes $154.3 million in cannabis excise tax and $108.8 million from sales tax collected from cannabis businesses. These figures do not include outstanding returns or returns that still are being processed.
Reported revenue for the first quarter of 2024 returns has been revised to $266.4 million. This includes $157.3 million attributed to cannabis excise tax and $109.1 million to sales tax. These revisions are a result of amended and late returns, as well as other tax return adjustments.
These figures reflect the states’ vendor compensation pro”}]] SACRAMENTO – The California Department of Tax and Fee Administration (CDTFA) reported cannabis tax revenue for the second quarter of 2024. As of August 16, total cannabis tax revenue from second-quarter returns is $263.1 million. This figure includes $154.3 million in cannabis excise tax and $108.8 Read More