California generated substantial revenue from marijuana taxes in the first quarter of 2024, surpassing a quarter of a billion dollars from over $1 billion in sales.
According to the California Department of Tax and Fee Administration, the state collected $259.9 million in taxes from the legal distribution of marijuana in the first quarter, covering January, February, and March. During this period there was $1,203,751,922 in taxable marijuana sales, including dried marijuana flower, shake, concentrates, edibles, and topicals, among other marijuana products.
The state garnered $152.5 million from the marijuana excise tax and $107.4 million from the sales tax.
The $259.9 million collected in Q1 2024 reflects a slight decrease from the $274 million made during the fourth quarter of 2023, which covered October, November and December.
Since the first recreational outlet opened in January 2018, the total amount of taxes brought in from marijuana sales has now reached nearly $6 billion.
California legalized marijuana in 2016, four years after Colorado and Washington became the first states to do so. The law allows those 21 and older to purchase, possess, and use marijuana, while also allowing them to grow marijuana for personal use at a private residence.
Late last month California’s full Assembly voted 58 to 6 to legalize marijuana cafés, with the measure currently awaiting consideration in the Senate.
