MJ Biz report..
In announcing the move, the California Department of Tax and Fee Administration (CDTFA) – which must recalculate the wholesale cannabis markup rate every six months – revealed that the markup rate for the marijuana excise tax will increase from 60% to 80% on New Year’s Day.
The markup rate is used to provide the basis for California’s 15% excise tax.
$9.65 from $9.25 for an ounce of flower, or an increase of 4.3%.The increase will also raise the state cultivation tax to adjust for inflation, raising those taxes as well:
- $2.87 from $2.75 for an ounce of leaves, or an increase of 4.3%.
- $1.35 from $1.29 for an ounce of fresh marijuana plant material, or an increase of 4.6%.
L720
Mj Biz
Also See MRR: https://marijuanaretailreport.com/california-set-to-increase-cannabis-cultivation-taxes-in-2020/
