California Cannabis Taxes To Increase 1.1.20

MJ Biz report.. In announcing the move, the California Department of Tax and Fee Administration (CDTFA) – which must recalculate the wholesale cannabis markup rate every six months – revealed that the markup rate for the marijuana excise tax will increase from 60% to 80% on New Year’s Day. The markup rate is used to provide the basis for California’s 15% excise tax. $9.65 from $9.25 for an ounce of flower, or an increase of 4.3%.The increase will also raise the state cultivation tax to adjust for inflation, raising those taxes as well: $2.87 from $2.75 for an ounce of leaves, or an increase of 4.3%. $1.35 from $1.29 for an ounce of fresh marijuana plant material, or an increase of 4.6%.   L720   Mj Biz California marijuana taxes will increase New Year’s Day Also See MRR: https://marijuanaretailreport.com/california-set-to-increase-cannabis-cultivation-taxes-in-2020/

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Source : CANNANNEW REPORT
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