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CALIFORNIA CANNABIS TAX REVENUES

The state levies a cultivation tax on all harvested cannabis that enters the market, a 15 percent excise tax on all cannabis purchases, and all sales are subject to state and local sales taxes. Still, total revenue for the calendar year 2018 was well shy of its $1 billion forecast.

First quarter 2018: $60.9 million ($32 million in excise, $1.6 million in cultivation, $27.3 million in sales tax)

Second quarter: $74.2 million ($43.5 million in excise, $4.5 million in cultivation, $26.2 million in sales tax)

Third quarter: $100.8 million ($53.3 million in excise, $12.6 million in cultivation, $34.9 million in sales tax)

Fourth quarter: $103.3 million ($50.8 million in excise, $16.4 million in cultivation, $36.1 million in sales tax)

Total revenue: $345.2 million

Total sales: $2.5 billion

Sources: California Department of Tax and Fee Administration, BDS Analytics



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