New plans to consolidate licensing in the state for cannabis-related businesses may lower entry barriers to the potentially lucrative industry for interested entrepreneurs.
The California Department of Tax and Fee Administration (CDTFA) reported revenue numbers today for cannabis sales for the 2nd quarter of 2019. As of August 16, 2019, California’s cannabis excise tax generated $74.2 million in revenue reported on the 2nd quarter 2019 returns due by July 31, 2019, and the cultivation tax generated $22.6 million.
Those looking for assistance with state and federal tax issues, as well as those who want to expand their business knowledge, will benefit from the informative presentations. Topics will include avoiding common sales and use tax problems, employee versus independent contractor, better business through better records, and forms of ownership. Representatives from the CDTFA, Employment Development Department, and Franchise Tax Board will conduct presentations and answer questions.