California Recreational Marijuana Tax Revenue Lower Than Forecast. Way Lower.

– News from elsewhere covered by Quincy Quarry News with commentary added.

 

Waiting in line to get into a pot shop.
A David McNew/Getty Images image

California Recreational Marijuana Tax Revenue Lower Than Forecast. 

 

Way Lower.

 

California officials were expecting a tax haul of upwards of $643 million in the first year of legalized recreational marijuana. 

 

So far, however, the first quarter tax take was well short of projections.

 

Firing up a fatty!
Image via hightimes.com

Licensed pot shop owners blame high taxes for lower-than-expected state cannabis revenues. “We just can’t compete with these illegal dispensaries,” says one local owner.

 

Critics had warned previously that the state’s projections were as high as marijuana users.

 

With Massachusetts about to commence recreational pot sales, one can only hope that Beacon Hill politicians are taking note of California’s marijuana tax income travails.

Source: California Pot Revenue is Lower Than Forecast. Are Taxes Too High?

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