Page 55 - FY 2022-23 Revenue Outlook

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

2018-19 2019-20 2020-21 2021-22 2022-23
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 7,198 10,715 15,076 12,260 10,480 (1,780) 10,480 11,250
AUGUST 3,065 6,308 11,839 12,520 13,336 816 13,336 11,550
SEPTEMBE 173 6,134 11,863 12,790 10,687 (2,103) 10,687 11,850
OCTOBER 3,515 7,436 7,262 13,060 9,512 (3,548) 9,512 12,150
NOVEMBER 4,656 3,638 12,654 13,340 11,245 (2,095) 11,245 12,450
DECEMBER 279 6,409 12,645 13,630 8,986 (4,644) 8,986 12,750
JANUARY 7,468 8,144 7,965 13,920 11,644 (2,276) 11,644 13,050
FEBRUARY 3,241 5,372 7,696 14,220 8,112 (6,108) 8,112 13,350
MARCH 202 6,223 11,624 14,520 12,861 (1,659) 12,861 13,650
APRIL 7,583 4,110 11,645 14,830 10,680 13,950
MAY 4,905 4,631 11,666 15,150 10,790 14,250
JUNE 3,068 9,157 14,823 15,460 19,267 14,450
TOTAL $ 45,354 $ 78,277 $ 136,758 $ 165,700 $ 137,600 $ 154,700
% Change 863.3% 72.6% 74.7% 21.2% 0.6% 12.4%
2018-19 2019-20 2020-21 2021-22 2022-23
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 7,198 10,715 15,076 12,260 10,480 (1,780) 10,480 11,250
AUGUST 10,263 17,022 26,915 24,780 23,816 (964) 23,816 22,800
SEPTEMBE 10,436 23,156 38,778 37,570 34,503 (3,067) 34,503 34,650
OCTOBER 13,951 30,592 46,039 50,630 44,015 (6,615) 44,015 46,800
NOVEMBER 18,607 34,231 58,694 63,970 55,260 (8,710) 55,260 59,250
DECEMBER 18,886 40,639 71,339 77,600 64,246 (13,354) 64,246 72,000
JANUARY 26,354 48,783 79,304 91,520 75,890 (15,630) 75,890 85,050
FEBRUARY 29,595 54,155 86,999 105,740 84,002 (21,738) 84,002 98,400
MARCH 29,797 60,378 98,623 120,260 96,863 (23,397) 96,863 112,050
APRIL 37,380 64,488 110,268 135,090 107,543 126,000
MAY 42,285 69,119 121,935 150,240 118,333 140,250
JUNE 45,354 78,277 136,758 165,700 137,600 154,700

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.

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