Reddit Email 0 Shares There are now eighteen states (plus the District of Columbia) that have legalized recreational marijuana. With weed sales reaching $25 billion in 2021 and that number only expected to grow, the sales tax revenue from the product is starting to make a bigger difference in the communities that choose to allow marijuana-related businesses. When each state legalized recreational cannabis, it formed a plan for how to use the tax revenue it would generate, though some states had more specific guidelines than others. So how is that money being spent? Alaska taxes its marijuana at several different stages, including taking a cut when cultivators sell raw products and when retail stores sell it directly to customers. Different types of marijuana are also taxed differently. Those are really adding up, going from about $10.8 million in revenue in 2018 to $24.2 million by 2020. Continue Reading Below All that money gets broken down into three sections: 25% for the general government fund; 25% for drug treatment and education; and 50% for programs meant to reduce the state’s recidivism rate.
Marie Edinger, Wikileaf, 05/11/2022 03:18:00
Open article: https://www.wikileaf.com/thestash/how-states-are-using-their-marijuana-tax-money/