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420 with CNW — California Sets Fiscal Year Record for Marijuana Tax Revenue

The nonpartisan Legislative Analyst’s Office in the state of California estimates that during the 2020–21 fiscal year, the state collected roughly $817 million in recreational cannabis tax revenue. This amount is 50% more than the marijuana earnings for the state coffers that were generated in the previous fiscal year. The officials state that combined cultivation and excise tax revenue for the fourth quarter, which ended in June, equates to $211 million.

It should be noted that these figures do not include local revenues to municipalities where the…

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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