California Cannabis Taxes Falling Short of Expectations

 

California is expected to collect about half as much from cannabis taxes as expected. According to the budget Governor Newsom proposed yesterday, it projects the state will bring in 355-million dollars in marijuana excise taxes by the end of June. Industry experts say the shortfall stems from the fact that most consumers still buy pot illegally. Meanwhile, the budget recommends spending over 200-million dollars for marijuana-related activities, which would be more than a 50 percent increase from the current year.