California’s cannabis industry generated more than $100 million in tax revenue during the first quarter of 2019, according to the The California Department of Tax and Fee Administration (CDTFA).
The cannabis excise tax generated $61.4 million, the cultivation tax hauled in $16.8 million and sale tax from cannabis businesses totaled roughly $38.4 million.
This does not include tax revenue collected by each jurisdiction, according to CDTFA.
Previously reported revenue for the fourth quarter 2018 returns was revised to $111.9 million, which included $55.6 million in excise tax, $17.2 million in cultivation tax and $39.1 million in sales tax.
Revisions to quarterly data are the result of amended and late returns and other tax return adjustments.
In November 2016, California voters approved Proposition 64, the Control, Regulate and Tax Adult Use of Marijuana Act.
Beginning on January 1 of last year, two new cannabis taxes went into effect: a cultivation tax on all harvested cannabis that enters the commercial market and a 15 percent excise tax upon purchasers of cannabis and cannabis products.
In addition, retail sales of cannabis and cannabis products are subject to state and local sales tax.
To learn more, visit the Tax Guide for Cannabis Businesses on the CDTFA website.
