States Generated Nearly $9 Billion in Cannabis-Related Tax Revenue Since 2021

States that have legalized the sale of cannabis for either medical or adult-use have collected more than $8.7 billion in marijuana-related taxes since 2021, according to calculations compiled by the federal government.

The analysis includes tax revenue estimates through the second quarter of this year. However, the report’s authors acknowledge that not all states provided up-to-date data – meaning that the total amount of state taxes collected during this period is likely higher than $8.7 billion.

According to the analysis, California collected $156 million in cannabis taxes during the reporting period, followed by Michigan ($75 million), Illinois ($72 million), Colorado ($61 million), Massachusetts ($50 million) and Arizona ($45 million).

A prior analysis published earlier this year by the Marijuana Policy Project reported that retail sales of adult-use cannabis products have generated more than $20 billion in state tax revenue since 2014.

Tables from the report are available from the US Census Bureau.

Article from NORML