Category: Taxes

California Pot Tax Revenue Still in Dumps But Not as Bad as Teased

Tax revenue for the first quarter of 2018 totaled $60.9 million, less than half of the state’s projection of $175 million for the fiscal year ending in June.

BY ED MURRIETA

SACRAMENTO — California tax revenue for the first three months of cannabis legalization is way below state projections but not as bad as partial figures teased this week in a state economist’s blog post.

The state on Friday released full financial figures from California cannabis revenue for the first quarter of taxed and regulated sales — including excise, cultivation and sales taxes.

An initial figure of $34 million in combined excise and cultivation emerged Wednesday in a blog post by an economist at the Legislative Analyst’s Office.

Friday’s figures the California Department of Tax and Fee Administration was slightly lower — $32 million from the state’s 15 percent excise tax and $1.6 million from the $9.25-per-ounce cultivation tax. The CTDFA released sales tax figures showing $27.3 million in revenue, not counting city and county taxes.

Tax revenue for the first quarter of 2018 totaled $60.9 million, less than half of the state’s projection of $175 million for the fiscal year ending in June.

 

The Regs: How to Save Bongloads on Cannabis Taxes and Carry a Half Pound of Pot

Is there some kind of tax break
for medicinal cannabis consumers? 

638253596BY ED MURRIETA

Once again, taxes top The Regs, this time in the context of a Medical Marijuana Identification Card that can save registered medicinal cannabis consumers bongloads of money in new taxes and allow you to carry eight times the amount of adult-use pot.

I’m a medicinal cannabis user. I heard about an official pot card that lets me avoid paying taxes. Is there some kind of tax break for medicinal cannabis consumers? 

— Randy Hollis, El Cerrito

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The Regs: Wild Wacky Tobaccy Taxes Explained in New Ask-and-Answer Column

What’s the deal with sky-high taxes
were going to pay on Californy wacky tobaccy?

638253596BY ED MURRIETA

Taxes top The Regs’ inaugural you-ask-the-questions-we-dig-up-the-answers column about California’s new cannabis regulations.

“What’s the deal with sky-high taxes we’re going to pay on Californy wacky tobaccy?

— Bobbi Zimmerman, San Francisco

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