420 with CNW — California Sets Fiscal Year Record for Marijuana Tax Revenue

September 1, 2021 16:25:36

The nonpartisan Legislative Analyst’s Office in the state of California estimates that during the 2020–21 fiscal year, the state collected roughly $817 million in recreational cannabis tax revenue. This amount is 50% more than the marijuana earnings for the state coffers that were generated in the previous fiscal year. The officials state that combined cultivation and excise tax revenue for the fourth quarter, which ended in June, equates to $211 million.

It should be noted that these figures do not include local revenues to municipalities where the…

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