By Travis Gillmore | California Insider
Cannabis sales and tax revenues continue to decline in California, falling for three straight quarters according to a recently released report from the state’s Department of Taxes and Fees Administration.
With sales totaling just more than $1 billion for cannabis products, and about $1.2 billion when including accessories, and combined excise and sales tax revenue of about $260 million in the first quarter of 2024, the figures are the lowest they’ve been since the second quarter of 2020.
“The decline has really been severe and significant and goes back years,” Hirsh Jain, founder of Los Angeles based consulting firm Ananda Strategy, told The Epoch Times. “It’s really tragic.”
Read more at: California Insider
