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California reports 94% of marijuana excise taxes paid as sales, revenue dip

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Source: mjbizdaily.com

Nearly 94% of cannabis excise taxes that marijuana businesses owed to the state of California have been paid, according to state officials, who also noted that both total sales as well as tax revenue declined in 2022. Cannabis sales in California are subject to two main taxes: the state’s basic sales tax, which starts at 7.25% but can reach as high as 8.25% in certain jurisdictions, and a 15% excise tax unique to cannabis, which retailers must collect from customers and remit to the state…

Read the rest on mjbizdaily.com

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