Page 62 - FY 2020-21 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Business Tax - Business Tax (Cannabis only)

(Thousand Dollars)
2016-17 2017-18 2018-19 2019-20 2020-21
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 625 521 7,198 8,180 10,715 2,535 10,715 12,440
AUGUST 661 341 3,065 8,740 6,308 (2,432) 6,308 12,440
SEPTEMBE 660 195 173 5,815 6,134 319 6,134 7,440
OCTOBER 489 55 3,515 5,555 7,436 1,881 7,436 7,440
NOVEMBER 855 120 4,656 5,670 3,638 (2,032) 3,638 7,440
DECEMBER 1,488 359 279 5,785 6,409 624 6,409 7,440
JANUARY 928 660 7,468 5,905 8,144 2,239 8,144 7,440
FEBRUARY 4,022 1,733 3,241 6,030 5,372 (658) 5,372 7,440
MARCH 3,528 367 202 3,550 6,223 2,673 6,223 7,440
APRIL 1,295 168 7,583 3,675 3,700 7,440
MAY 1,773 76 4,905 3,810 1,200 7,440
JUNE 952 114 3,068 3,935 7,922 7,440
TOTAL $ 17,274 $ 4,708 $ 45,354 $ 66,650 $ 73,200 $ 99,280
% Change 68.4% -72.7% 863.3% 47.0% 61.4% 35.6%
2016-17 2017-18 2018-19 2019-20 2020-21
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 625 521 7,198 8,180 10,715 2,535 10,715 12,440
AUGUST 1,286 862 10,263 16,920 17,022 102 17,022 24,880
SEPTEMBE 1,945 1,057 10,436 22,735 23,156 421 23,156 32,320
OCTOBER 2,434 1,112 13,951 28,290 30,592 2,302 30,592 39,760
NOVEMBER 3,289 1,231 18,607 33,960 34,231 271 34,231 47,200
DECEMBER 4,777 1,590 18,886 39,745 40,639 894 40,639 54,640
JANUARY 5,705 2,250 26,354 45,650 48,783 3,133 48,783 62,080
FEBRUARY 9,726 3,983 29,595 51,680 54,155 2,475 54,155 69,520
MARCH 13,255 4,351 29,797 55,230 60,378 5,148 60,378 76,960
APRIL 14,550 4,519 37,380 58,905 64,078 84,400
MAY 16,323 4,594 42,285 62,715 65,278 91,840
JUNE 17,274 4,708 45,354 66,650 73,200 99,280
This tax category represents tax receipts from cannabis-related business activity. Cannabis businesses have
moved from an annual remittance schedule to quarterly in 2018-19 and for 2019-20 these businesses were moved
to a monthly remittance schedule. Cannabis businesses remit at rates between $10/$1000 and $100/$1000 of
gross receipts.

Due to the pandemic and the resulting Civic Center closure, the collection of approximately $10.0 million in 2019-
20 projected receipts will be delayed. These receipts are assumed to be recovered in 2020-21. Cannabis-related
business activity assumes that estimated current-year growth continues at approximately 24 percent with no
impact from the pandemic or recession.

50