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From April to June, Maryland collected nearly $22.4 million in cannabis taxes – a 52% increase from the previous quarter – according to state data.
Most of the funds, nearly $11.2 million, were sent to the state’s General Fund as required by state law, with about $7.8 million directed to the Community Reinvestment and Repair Fund, and about $1.1 million dispersed to Maryland counties and municipalities and another $1.1 million sent to the state’s public health and business assistance funds.
The majority of the state’s cannabis taxes – more than $11.3 million – derived from sales that occurred in the Central region of the state. Western region sales led to about $3.8 million in collected taxes, while Capital region sales led to about $3.2 million in collected taxes, followed by the Eastern region (about $3 million), and Southern region ($873,597), according to data from the Comptroller’s Office.
In Maryland, adult-use cannabis sales carry a 9% sales tax, of which 5% is sent to local government. In a blog post, the Maryland Association of Counties notes that share is “among the lowest shares nationwide.”
“Despite local responsibilities for managing zoning, public safety, and health impacts related to cannabis businesses, local governments receive a mere 45 cents for every $100 in cannabis sales,” the post states. “Other states, like New York and Oregon, offer counties a fairer share through excise or sales taxes, but Maryland’s counties remain financially strained as they manage these growing responsibilities.”
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TG joined Ganjapreneur in 2014 as a news writer and began hosting the Ganjapreneur podcast in 2016. He is based in upstate New York, where he also teaches media studies at a local university.
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“}]] [[{“value”:”From April to June, Maryland collected nearly $22.4 million in cannabis taxes – a 52% increase from the previous quarter – according to state data.
Most of the funds, nearly $11.2 million, were sent to the state’s General Fund as required by state law, with about $7.8 million directed to the Co”}]] Read More