Sacramento – The California Department of Tax and Fee Administration (CDTFA) reported revenue numbers today for cannabis sales for the 4th quarter of 2019. As of February 18, 2020, California’s cannabis excise tax generated $84.4 million in revenue reported on the 4th quarter 2019 returns due by January 31, 2020, and the cultivation tax generated $23.6 million.
Sales tax from cannabis businesses totaled $64.7 million in revenue for the same period. Sales tax applies to sales of cannabis, cannabis productsnd other tangible personal property. Certain retail sales of medicinal cannabis are exempt from sales and use taxes when the purchaser provides at the time of purchase a valid Medical Marijuana Identification Card issued by the California Department of Public Health and a valid government-issued identification card.
For the Full Report: CDTFAcdtfa
March 6, 2020