On Wednesday, the state Department of Tax and Fee Regulation reported that second quarter pot tax revenues jumped 32.6% from last year. The record quarterly income of $208M comes from the strength—not in spite—of pandemic conditions.
Wolf Street
- First-quarter revenues were revised up in a major way, from $134.9M to $205.9M. Over 2020’s first two quarters, tax revenues increased 44% ($414M) from 2019, and by 150% from the same period in 2018.
- Considering cultivation, sales and excise taxes, state 2020 revenues will come close to $5B.
Quick Hit
- Does the approach presently taken by cannabis investors in 2020 remind you more of getting hot tips on liquor stores or advancing medical cannabis?
Forbes
