California’s bong sale misses the mark
February 27, 2024
By KAREN VELIE
In an attempt to recoup the more than $14 million a group of cannabis companies owe in back taxes, the state held an auction selling items such as glass bongs (water pipes), snow cone machines and shelving seized from the delinquent businesses. The auction, however, netted California a paltry $2,075. [NorthBayBusinessJournal]
Held on Feb. 16 in Los Angeles, this was the first time the state attempted to sell cannabis retail items such as bongs at auction.
Compliance personnel seized items from 10 businesses located in Southern California. Proceeds from the auction is slated to help pay off the delinquent taxes.
Since the state began overseeing cannabis businesses, it has conducted 2,200 inspections and seized $90 million in products and cash, according to the tax agency.
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