The California state hashish excise tax won’t go up in July because it did in January.
The state Department of Tax and Fee Administration (CDTFA) made that announcement in a little-noticed information launch in May.
Per state legislation, the company is required each six months to recalculate the markup price upon which the state’s 15% excise tax relies.
In November, the company introduced that its calculations would end in a tax improve, which went into impact New Year’s Day and led to an outcry from business insiders who had already been urging policymakers to scale back state MJ taxes.
If one other improve had been deemed vital, it could have gone into impact July 1.
But the company acknowledged that the present price will remain unchanged for no less than one other six months, till its subsequent recalculation.
“We have determined the cannabis markup rate will remain unchanged at 80% for the remainder of the 2020 calendar year,” the CDTFA famous in its bulletin.
“To make this determination, we used an analysis of statewide market data to calculate the markup rate between the wholesale cost and the retail selling price of cannabis and cannabis products.”