California cannabis tax revenue fell two-thirds short of the projected $1 billion in its first year of regulated sales, officials said. California took in $345.2 million in cannabis tax revenue during the first year of regulated sales in 2018, just more than two-thirds below the expected $1 billion, according to figures released by the state Tuesday. Marijuana tax revenues climbed ...

The budding legal marijuana market in California has come short on the projected tax revenue, prompting legislators to propose a plan to cut the cannabis tax to limit black market sales. Assemblyman Tom Lackey, R-Palmdale, along with other lawmakers and California State Treasurer Fiona Ma, introduced legislation Monday to lower the cannabis tax rate and suspend the cultivation tax for ...

A bipartisan bill aimed at reducing the price disparity between legal and “black market” cannabis by lowering taxes on recreational marijuana has been introduced in the California Assembly. Don’t miss a thing. Get breaking KHTS Santa Clarita News Alerts delivered right to your inbox. Assemblymembers Tom Lackey, R-Palmdale, and Rob Bonta, D-Oakland, announced a bill that will reduce the price disparity between ...