Page 55 - FY 2021--22 Revenue Outlook

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

2017-18 2018-19 2019-20 2020-21 2021-22
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 521 7,198 10,715 12,440 15,076 2,636 15,076 9,630
AUGUST 341 3,065 6,308 12,440 11,839 (601) 11,839 10,160
SEPTEMBER 195 173 6,134 7,440 11,863 4,423 11,863 10,720
OCTOBER 55 3,515 7,436 7,440 7,262 (178) 7,262 11,310
NOVEMBER 120 4,656 3,638 7,440 12,654 5,214 12,654 11,930
DECEMBER 359 279 6,409 7,440 12,645 5,205 12,645 12,580
JANUARY 660 7,468 8,144 7,440 7,965 525 7,965 13,270
FEBRUARY 1,733 3,241 5,372 7,440 7,696 256 7,696 14,000
MARCH 367 202 6,223 7,440 11,624 4,184 11,624 14,770
APRIL 168 7,583 4,110 7,440 11,677 15,580
MAY 76 4,905 4,631 7,440 8,000 16,430
JUNE 114 3,068 9,157 7,440 7,700 17,320
TOTAL $ 4,708 $ 45,354 $ 78,277 $ 99,280 $ 126,000 $ 157,700
% Change -72.7% 863.3% 72.6% 26.8% 61.0% 25.2%
2017-18 2018-19 2019-20 2020-21 2021-22
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 521 7,198 10,715 12,440 15,076 2,636 15,076 9,630
AUGUST 862 10,263 17,022 24,880 26,915 2,035 26,915 19,790
SEPTEMBER 1,057 10,436 23,156 32,320 38,778 6,458 38,778 30,510
OCTOBER 1,112 13,951 30,592 39,760 46,039 6,279 46,039 41,820
NOVEMBER 1,231 18,607 34,231 47,200 58,694 11,494 58,694 53,750
DECEMBER 1,590 18,886 40,639 54,640 71,339 16,699 71,339 66,330
JANUARY 2,250 26,354 48,783 62,080 79,304 17,224 79,304 79,600
FEBRUARY 3,983 29,595 54,155 69,520 86,999 17,479 86,999 93,600
MARCH 4,351 29,797 60,378 76,960 98,623 21,663 98,623 108,370
APRIL 4,519 37,380 64,488 84,400 110,300 123,950
MAY 4,594 42,285 69,119 91,840 118,300 140,380
JUNE 4,708 45,354 78,277 99,280 126,000 157,700

This tax category represents tax receipts from cannabis-related business activity as reported in the LATax
system. Cannabis businesses remit at rates between $10/$1000 and $100/$1000 of gross receipts based on
activity, with recreational cannabis sales having the highest rate. Cannabis businesses have moved from an
annual remittance schedule to quarterly in 2018-19 and then to monthly in 2019-20, impacting growth between
fiscal years. Receipts from prior tax periods make up a large share of total revenue, which includes receipts
collected under pre-licensing audits.
2020-21 receipts reflect 35 percent growth from the 2019-20 tax period and prior year taxes, including $8.9
million in receipts attributed to the closing of Finance's cash handling activities. 35 percent growth from the 2020-
21 tax period is again assumed for the proposed year's tax period receipts, with lower growth for prior year taxes
as new businesses are licensed.

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