California hashish taxes topped $216 million throughout the first quarter of the 12 months, in response to California Division of Tax and Payment Administration knowledge outlined by KTLA. The entire is down about $32 million from quarter 4 of final 12 months when the state collected $248.5 million in hashish taxes.
The discount may be attributed, partially, to the state ending the imposition of a hashish cultivation tax in July 2022. The quarter-one whole additionally doesn’t embrace excellent tax returns or returns which can be nonetheless being processed and solely mirror the tax income paid to the state; many cities and counties have their very own extra charges and taxes which can be collected on the native degree.
Falling state tax revenues will not be distinctive to California, nevertheless, as a latest Marijuana Coverage Undertaking (MPP) report discovered hashish tax revenues within the U.S. declined from $3.867 billion in 2021 to $3.775 billion in 2022. The MPP suggests the lower is because of falling hashish tax revenues within the six states that first legalized hashish for grownup use.
In all, California — which was the fifth state within the U.S. to cross adult-use hashish legalization — has collected practically $5 billion in whole hashish tax revenues because the reforms took impact there in 2018.
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