California Marijuana Tax Revenue Reaches $269.3 Million in Q3 2023
According to a recent report by Mondaq, the California Department of Tax and Fee Administration (CDTFA) has released the marijuana tax revenue for the third quarter of 2023, totaling $269.3 million. This includes $156.9 million in marijuana excise tax and $112.4 million in business sales tax revenue.
Previously released second quarter revenue for 2023 has been revised to $285.1 million, which includes $164.8 million from cannabis consumption tax and $120.3 million from sales tax. These revisions were made based on amended and overdue tax filings, as well as other tax adjustments.
Since January 2018, the total marijuana tax revenue in California has reached nearly $5.5 billion, including around $2.8 billion from marijuana consumption taxes and approximately $2.2 billion from sales taxes.
In addition, the report does not include unpaid or pending tax bills, as well as local taxes collected by city and county governments. The report also mentions the repeal of a cultivation tax of $501 million, effective from July 1st, 2022, following the passage of the Marijuana Tax Reform Act.
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