California Q2 Cannabis Taxes Down for 4th Consecutive Year - Ganjapreneur | How to buy Skittles Moonrock online

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California Q2 Cannabis taxes down for 4th consecutive year – Ganjapreneur (19459000)

Wed / Sep 18th

By: Graham Abbott

California’s cannabis tax revenues have been declining year-over-year over the last four years. Total taxable cannabis sales were down by a quarter in Q2 2024 compared to the same period in 2021.

The full story is below the jump.

The Cannabis Tax and Fee Administration’s (CDTFA) data shows that cannabis tax revenues have declined steadily in the last four years. Press Democrat reports.

According to state statistics, second-quarter cannabis taxes revenue in California Since 2021, the number of people in the United States has decreased year-over-year.

$361,4 million in Q2 of 2021
$302.3 million in Q2 of 2022
$286.7 Million in Q2 2023
$263.1 Million in Q2 of 2024

The report shows that the total taxable cannabis sales in California also declined over the same period.

$1,5 billion in Q2 of 2021
$1.4 billion in Q2 of 2022
$1.3 billion by Q2 2023
$1 billion in Q2 of 2024

California cannabis tax revenues and sales have continued to decrease as the industry struggles with heavy regulation and competition both from the unregulated market and hemp derived THC products.

Earlier this month, Gov. Gavin Newsom, a Democrat, aims to rein in hemp product retailers by introducing new emergency rules that ban the sale of intoxicating products. The rules require all hemp-derived products to be sold in the State to have “no detectable amounts of total THC.”

Last week, state lawmakers approved a bill that would allow for the sale of a new type of vehicle. Allow cannabis consumption loungesSending the proposal to Governor, who vetoed an identical measure last year.

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