Section 34012.3 - Cannabis excise tax constitutes debt owed by the cannabis retailer to the state(a) The cannabis excise tax required to be collected by a cannabis retailer, and any amount not returned to the purchaser that is not tax but was collected from the purchaser under the representation by the cannabis retailer that it was tax, constitutes debt owed by the cannabis retailer to this state.(b) This section shall become operative on January 1, 2023.Ca. Rev. and Tax. Code § 34012.3
Added by Stats 2022 ch 56 (AB 195),s 24, eff. 6/30/2022.