LAO Says California Has Raked in $34 Million in Marijuana Taxes So Far

Figures released Tuesday by the state Legislative Analyst’s Office show California raked in about $34 million in cannabis tax revenue between January and March. That number is far below the $175 million officials had hoped to make by the end of next month.

The governor’s office will release its own figures later this week. But officials now have serious doubts they can meet the $175 million target for the first six months of the year.

Some lawmakers are now warning that the dismal numbers could jeopardize a legislative effort to lower the state’s marijuana taxes. That could compound problems by allowing the illicit market to continue flourishing, taking much needed revenue with it.


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Policy

Wednesday, November 28, 2018 - 02:35

With more than four inches of rain expected to fall on the southland’s mountain areas this week, authorities are warning some residents in recent burn areas to evacuate due to possible mudslides.

Finance

Monday, September 10, 2018 - 03:08

Santa Barbara County is itching to see what first quarter revenues look like after residents approved new cannabis taxes in June.