Page 22 - Fee Administration News Today

The California Department of Tax and Fee Administration (CDTFA) reported cannabis revenue on Wednesday for the fourth quarter of 2022. As of February 16, 2023, total cannabis tax revenue from fourth-quarter returns is $221.6 million.

California lawmakers are having their first public hearing on a proposal to penalize some oil company profits

California lawmakers held a hearing to consider a penalty on oil companies after the industry posted record profits at a time when drivers paid the highest gas prices in the nation.

SACRAMENTO, Calif. — Nearly five months after Gavin Newsom initially called for a penalty on excessive oil company profits, the governor and lawmakers in Sacramento appear no closer to deciding

Over the last two years, oil companies have spent $34 billion lobbying lawmakers in the state.

A bill that would be the U.S.s first penalty on excessive oil company profits is still sitting in Californias Democratic-controlled Legislature with no details on how much the penalty would be or when oil companies would have to pay it.

After gas prices in California spiked to more than $6.40 per gallon last summer, Gov. Gavin Newsom led a charge against an industry he says is “ripping you off."

Experts said a penalty on oil refiners might not have much effect on prices at the pump.

After gas prices in California spiked to more than $6.40 per gallon last summer, Gov. Gavin Newsom led a charge against an industry he says is "ripping you off."

Calif. Gov. Gavin Newsom has led a charge against the industry, but its unclear who is following him.