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How High is California’s Cannabis Revenue?

| Jun 7, 2021 | CDTFA |

The California Department of Tax and Fee Administration (CDTFA) reported today that in the first quarter of 2021, California has already generated $131.9 million in cannabis excise tax, $30.7 million in cannabis cultivation tax, and $82.4 million in cannabis sales tax.  This makes a grand total of $245 million dollars of taxes reported by the California cannabis industry, however, due to COVID-19 related filing extensions, true first quarter 2021 numbers won’t be known until August 2021, and will be much greater. California’s tax revenue data for all previous quarters can be found here.

Remember, if you are in the cannabis industry in California, it is important to understand the difference between state and federal tax laws impacting your business. If you are interested in advice on your cannabis business, and possible conflicts between state and federal law, contact one of our attorneys today.

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