California reported a nearly 18% increase in quarterly cannabis-related tax revenue, continuing a steady upward trend since recreational cannabis use was legalized in 2018.
Cannabis businesses reported a record $306.7 million in total state taxes from July through September, up from $260.2 million the previous quarter, the California Department of Tax and Fee Administration said Monday.
- A 15% excise tax on cannabis accounted for $159.8 million of the third quarter total, compared to $135 million the previous quarter.
- The cultivation tax, based on weight of flowers, leaves, or plants, generated $41 million compared to $30.7 ...
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