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California has slow start to marijuana tax collections

May 9, 2018 GMT

LOS ANGELES (AP) — 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.

But estimates released Tuesday by the state Legislative Analyst’s Office show just $34 million came in between January and March.

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.

Gov. Jerry Brown’s administration will release its own tax figures later this week.