Legal weed sales crack $1.3bil in Calif. Here’s how much tax revenue it generated.

California’s legal cannabis industry reached its highest watermark in terms of sales during the second quarter of 2021.

California’s legal cannabis industry reached its highest watermark in terms of sales during the second quarter of 2021, reaching $1.359 billion dollars in taxable sales to consumers, California’s sales tax agency reported.

The latest figures paint a legal drug industry that continues to rise, with year-over-year sales gains of $266,518,368, the California Department of Tax and Fee Administration said in its quarterly update of sales tax revenue.

In the second quarter of 2021, California collected $333,198,419 in taxes from cannabis growers and sellers.

Of that sum, California raised $120,540,674 in sales taxes from cannabis sales and $40,383,864 from cultivation efforts.

The largest share, however, came from the state’s 15 percent excise tax, which raised $172,273,881 within the quarter.

The record tax revenue and sales beg a larger question:

How are revenues generated across the San Joaquin Valley floor?

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