California

The California Department of Finance announced earlier this week that the sales and use tax revenue was $68 million below projections for the month of March and $326 million below projections for the 2024-25 fiscal year. Last year, economic projections for the hemp CBD market in California estimated that sales tax revenue for hemp CBD products are approximately $21 million per month, which would have shrunk the sales tax revenue shortfall by nearly a third if they were still allowed to be sold in California. Please ask Governor Newsom to bring hemp products back to California, which would in turn bring tax revenue back to the state.

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