California Cannabis Taxes To Increase 1.1.20

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

California marijuana taxes will increase New Year’s Day

Also See MRR: https://marijuanaretailreport.com/california-set-to-increase-cannabis-cultivation-taxes-in-2020/

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