Sacramento – The California Department of Tax and Fee Administration reported revenue numbers today for cannabis sales for the 1st Quarter of 2020. As of May 15, 2020, California’s cannabis excise tax generated $68.3 million in revenue reported on the 1st Quarter 2020 returns due by April 30, 2020, and the cultivation tax generated $16.4 million..
Sales tax from cannabis businesses totaled $50.2 million in revenue for the same period. Sales tax applies to sales of cannabis, cannabis products, and 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.
Total tax revenue reported by the cannabis industry is $134.9 million for 1st Quarter returns due by April 30, 2020. This does not include tax revenue collected by each jurisdiction. Previously reported revenue for 4th Quarter 2019 returns was revised to $177.3 million, which included $85.9 million in cannabis excise tax, $24.1 million in cultivation tax, and $67.3 million in sales tax. Revisions to quarterly data are the result of amended and late returns, and other tax return adjustments.
Since January 2018, total program revenue to date is $1.17 billion, which includes $569.8 million in cannabis excise tax, $140.2 million in cultivation tax, and $456.9 million in sales tax.
To learn more, visit the Tax Guide for Cannabis Businesses on the CDTFA website.
For more information please visit : cdtfa.ca.govCalifornia Department of tax and fee administration
May 26, 2020