‘Green Rush’ Fades: Santa Barbara Cannabis Revenues Go Up in Smoke, Grand Jury Says | News Channel 3-12

‘Green Rush’ Fades: Santa Barbara Cannabis Revenues Go Up in Smoke, Grand Jury Says | News Channel 3-12

SANTA BARBARA COUNTY, Calif. — Santa Barbara County’s once-high hopes for cannabis tax revenue are going up in smoke, with a new Grand Jury report warning the program may soon become a financial burden without major reforms. Tax revenues peaked at $15.7 million in fiscal year 2020–21 but are projected to bring in just $5.4 million this year. At the same time, compliance, enforcement and administrative costs are climbing. The Grand Jury warns the…

Taxes hiked on tobacco and cannabis to plug revenue gaps

(The Center Square) — Mainers will pay more for cigarettes, cannabis and streaming services under a supplemental state budget approved by the Democratic-led Legislature.