California Department of Tax and Fee Administration selling commercial properties seized in connection with illegal cannabis operations to recover unpaid taxes

California Department of Tax and Fee Administration selling commercial properties seized in connection with illegal cannabis operations to recover unpaid taxes
CANNANNEW REPORT

The Oakdale Leader writes The California Department of Tax and Fee Administration’s (CDTFA) is selling commercial properties seized in connection with illegal cannabis operations to recover unpaid taxes. CDTFA will auction off a property in Whittier that was seized as a result of an investigation into illegal cannabis sales. Operators of illegal cannabis operations at the site owe more than $850,000 in taxes. The sale will mark the second time this month that CDTFA has used seized properties to reclaim tax revenues lost to illegal cannabis sales. On March 2, in conjunction with the Los Angeles County Sheriff’s Department, CDTFA sold a property seized in Compton for $256,000. CDTFA hopes to recover at least $220,000 from the sale of the Whittier property. “Unlicensed cannabis operators not only undercut legitimate businesses, but they also cheat California communities out of revenue for vital programs,” said CDTFA Director Nick Maduros. “These businesses are not licensed under the laws approved by California voters, and many of their products are unregulated.” The seized properties were used in conjunction with unlicensed cannabis operations that sold a variety of illegal, unregistered cannabis products. Unsuspecting consumers may have purchased unregulated products that fail to meet the strict safety standards required for cannabis products in California. These unlicensed operations failed to report and pay taxes to the state and have an unfair business advantage over legal operators who are compliant with state tax laws. CDTFA casts a wide enforcement net to identify illegal businesses and ensure that licensed businesses are properly registered and collecting and remitting appropriate taxes. The Department collaborates with the California Highway Patrol, local law enforcement, city and county licensing authorities, and other government agencies. Since 2020, CDTFA has performed more than 1,000 inspections and observations of cannabis businesses and seized more than $32 million in…

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Source : California Department of Tax and Fee Administration selling commercial properties seized in connection with illegal cannabis operations to recover unpaid taxes

reposted by Cannabis News World

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