In case you couldn’t make it to the CDTFA’s first public auction featuring property seized during cannabis enforcement actions (see “Make sure to set a repeated reminder about this upcoming event” in the February 11, 2024, issue of Tribune), here’s an update.
The good news for the CDTFA is that everything was sold – success! This included items like televisions, money-counting machines, paper shredders, and a snow cone machine. All proceeds will be applied to the $14.4+ million in unpaid taxes from 10 Los Angeles-based cannabis operations.
The bad news is that the auction yielded a stupefying $2,075 (there are no missing digits between the dollar sign and the 2). What?! That means each of the cannabis operations gets a credit of only about $200.
Overall result: $14.4+ million in unpaid taxes.