California Central Coast Cannabis Tax Revenue surpasses Sales Tax
Santa Barbara Cannabis Tax Revenue Doubled
San Diego, September 14, 2020 – SWI Editorial Team. Acceptance of the use of medical and recreational cannabis has been steadily improving nationwide over the last few years, while legalization still lags. Accordingly, illicit cannabis sales in California are still six times higher than legal sales. Nevertheless, municipalities and the State realizing that they are missing out on large tax revenues, may be the driving factor for the increasing issuance of permits for legal operations and the rapidly increasing legal cannabis sales in California. Accordingly, tax revenue in the central coast region has drastically improved during the last fiscal quarter. In total, the region received $12.2 million in cannabis tax revenue over the 2019-2020 tax year with only 50 operators contributing from April 1 to June 30, 2020, the fourth and most recent quarter.
Santa Barbara County alone brought in more than twice as much tax revenue from cannabis operations last quarter as compared to the same time last fiscal year, generating $5.5 million versus $2.3 million, a surge that was partly attributed to the pandemic stay-at-home mandate in a report to the Board of Supervisors.
The San Luis Obispo central coast region, roughly halfway between San Francisco and Los Angeles, is home to vintage beach towns and celebrated wine regions. From historic downtown in San Luis Obispo to the legendary Hearst Castle and wild, unspoiled beaches you can travel inland to Paso Robles, passing through hundreds of family-owned wineries.
Paso Robles is the location of the Estrella “Estate Grown Weedery”, a 256-acre ranch formerly owned by the Randolph Hearst family, now owned by Livewire Ergogenics. Estrella Ranch will begin with the cultivation of its unique organically grown cannabis products immediately, once the permit approval process by the County, currently in the final stages has been concluded. The surrounding region has the ideal micro-climate for the cultivation of LiveWire’s exceptional high-quality, family-style farmed organic cannabis, the same region that has been producing some of the best wines in California under strict appellation rules for decades by the nearly 200 vineyards surrounding LiveWire’s Estrella Ranch.
Livewire Ergogenics, Inc. is a publicly traded company (OTC:LVVV) that specializes in identifying and monetizing current and future trends in the health and wellness industry. The Company is focused on acquiring, managing, and licensing specialized cannabis real estate properties conducive to producing high-quality handcrafted cannabis products for medicinal and recreational use in the US. This includes the creation of a Nationally recognized organic “Estrella Weedery” brand and distribution throughout California. Livewire Ergogenics does not produce, sell, or distribute products that are in violation of the United States Controlled Substance Act. For more information, please visit: LiveWireErgogenics.com