State tax coffers in California keep climbing. The California Department of Tax and Fee Administration (CDTFA) has reported cannabis tax revenue for the third quarter of 2023. As of November 16, 2023, total cannabis tax revenue from third-quarter returns is $269.3 million. This includes California’s cannabis excise tax, which generated $156.9 million, and $112.4 million in sales tax revenue from cannabis businesses.
The previously reported revenue for the second quarter of 2023 returns was revised to $285.1 million, including $164.8 million in cannabis excise tax, and $120.3 million in sales tax. The revisions came from amended and late tax returns and other tax return adjustments.
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