The $300,000,000 Club – Which 5 States Collected over $300 Million in Cannabis Tax Revenue Last Year Alone?

In 2022, California amassed slightly over $1 billion in cannabis taxes, a notable decrease from almost $1.3 billion in 2021 and lower than the $1.1 billion in 2020. Cannabis sales in the state also dropped by 8% in 2022, going from $5.7 billion in 2021 to $5.3 billion in 2022. The decline has been attributed to several factors, including the continued presence of the illicit market, declining wholesale prices, and severe delays in local licensing.