Cannabis tax revenue increases in 2nd quarter of 2018 Pixabay.jpgIf the City of Hemet decides to implement tax regulations on local cannabis businesses they will be subject to the two new cannabis taxes. ■ California Dept. of Tax and Fee Administration The California Department of Tax and Fee Administration (CDTFA) released revenue numbers for cannabis sales for the 2nd quarter of 2018. Tax revenue from the cannabis industry totaled $74,240,257 from April 1, 2018, through June 30, 2018, which includes state cultivation, excise and sales taxes. It does not include tax revenue collected by each jurisdiction. California’s excise tax on cannabis generated $43,490,668 in revenue during the second quarter of calendar
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