Surging Sales Boost Calif. Pot Tax Revenue
California cannabis sales have surged this year, according to tax data recently released by the state.
The state generated $306.7M in revenue from cannabis taxes over Q3 of 2020, according to a November report from the California Department of Tax and Fee Administration (CDTFA). That total, which does not include taxes collected by local jurisdictions, represents an increase of $46.5M from the prior quarter.
Pot taxes are helping the state offset budget losses related to the pandemic.
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