LOS ANGELES (CBS13) – So far, the sale of legal marijuana in California isn’t bringing in the green stuff.
Broad legal sales kicked off on Jan. 1. State officials had estimated California would bank $175 million from excise and cultivation taxes by the end of June.READ MORE: Wednesday's Show Info. (6/29/22)
But estimates released Tuesday by the state Legislative Analyst’s Office show just $34 million came in between January and March.READ MORE: Stockton Police Release New Video, Hoping To Crack 2017 Homicide Cold Case
Seth Kerstein, an economist with the office, says tax collections are expected to pick up significantly but it’s unlikely California will reap $175 million by midyear.
The lackluster figure appears to reflect a bumpy rollout of licenses for the state’s new legal marketplace.MORE NEWS: Tuesday's Show Info. (6/28/22)
Gov. Jerry Brown’s administration will release its own tax figures later this week.