Marijuana Tax Brings in over $60 Million in First Quarter

The California Department of Tax and Fee Administration (CDTFA) released revenue numbers for cannabis sales in the first quarter of 2018.

Posted: May. 11, 2018 1:27 PM
Updated: May. 11, 2018 1:33 PM

Sacramento, Calif.—The California Department of Tax and Fee Administration (CDTFA) released revenue numbers for cannabis sales in the first quarter of 2018.

Scroll for more content...

Tax revenue from the cannabis industry totaled $60.9 million since January 1st.

This includes the state cultivation, excise, and sales tax.

It does not include local tax revenue collected by cities and counties.

In November 2016, California voters approved Proposition 64, the Control, Regulate and Tax Adult Use of Marijuana Act.

On January 1st two new cannabis taxes went into effect: a cultivation tax on all harvested cannabis that enters the commercial market and 15 percent excise tax on the purchase of cannabis and cannabis products.

In addition cannabis and cannabis products are subject to state and local sales tax at the time of the retail sale.

California’s excise tax on cannabis generated $32 million in revenue for the first quarter of the calendar year 2018.

The cultivation tax generated $1.6 million, and the sales tax generated $27.3 million in revenue.

Medical cannabis is exempt from sales tax if the purchaser holds a valid Medical Marijuana Identification card.

Related Content

Article Comments

Chico
Clear
55° wxIcon
Hi: 92° Lo: 63°
Feels Like: 55°
Oroville
Clear
56° wxIcon
Hi: 90° Lo: 62°
Feels Like: 56°
Paradise
Clear
55° wxIcon
Hi: 84° Lo: 65°
Feels Like: 55°
Chester
Clear
40° wxIcon
Hi: 75° Lo: 50°
Feels Like: 40°
Red Bluff
Clear
59° wxIcon
Hi: 93° Lo: 67°
Feels Like: 59°
Willows
Clear
55° wxIcon
Hi: 93° Lo: 65°
Feels Like: 55°
Big jump in temps for Memorial Day!
KHSL Radar
KHSL Temperatures
KHSL Watches & Warnings

Community Events