ANNAPOLIS, Md. – In a groundbreaking financial development, Maryland’s Comptroller Brooke E. Lierman announced a substantial collection of over $12 million in cannabis sales tax revenue. This figure, encompassing sales from July to September 2023, marks the inaugural quarter of cannabis sales in the state following the enactment of the Cannabis Reform Act 2023. This act, pivotal in legalizing personal cannabis use for adults over 21, has opened a new economic avenue for Maryland.
The role of the Comptroller of Maryland is pivotal in this new financial landscape, overseeing the collection and distribution of sales and use tax revenue from adult-use cannabis retail sales. The state imposes a 9% tax on adult-use cannabis and its products, with the central region of Maryland contributing a significant 45% of this revenue.
Comptroller Lierman emphasized the importance of transparency in this new sector. “Transparency is crucial to earning and maintaining the public trust,” she stated. Her office plans to regularly update the public on the evolving cannabis industry’s contributions to Maryland’s economy, promising quarterly reports.
Maryland Governor Wes Moore expressed satisfaction with the strong revenue figures, reflecting the successful launch of the state’s adult recreational cannabis industry. He highlighted the importance of these funds in promoting social equity and economic growth, core tenets of the Moore-Miller Administration. The governor also stressed the commitment to fostering inclusion, accountability, and fairness within Maryland’s cannabis industry.
Acting Director of the Maryland Cannabis Administration, Will Tilburg, also noted these funds’ critical role in ensuring a safe, accessible, and equitable implementation of cannabis legalization. He commended the Comptroller’s Office for its rapid and transparent handling of the funds, which are set to benefit local communities and small businesses.
The over $12 million in revenue is earmarked for various funds as detailed in the Cannabis Reform Act. Notably, $4,255,491 will go to the Community Reinvestment and Repair Fund (CRRF), supporting community initiatives in areas previously impacted by cannabis prohibition. Maryland counties will receive $607,927, with half of these funds directed to municipalities hosting cannabis dispensaries.
Additionally, the same amount will be allocated to both the Cannabis Public Health Fund, addressing health effects related to adult-use cannabis legalization, and the Cannabis Business Assistance Fund, supporting small, minority-owned, and women-owned businesses in the cannabis industry through FY 2028. The remaining revenue will bolster Maryland’s General Fund.
For ongoing insights into the state’s cannabis sales tax revenue, the public can access quarterly reports on the Comptroller’s website: https://marylandtaxes.gov/reports/index.php.
Further information on cannabis laws, regulations, and related data is available through the Maryland Cannabis Administration.
Legalize federally now. What’s legal to possess and consume in nearly half of The United States should not make you a criminal in states still being governed by woefully ignorant prohibitionist politicians.
Cannabis consumers in all states deserve and demand equal rights and protections under our laws that are currently afforded to the drinkers of far more dangerous and deadly, yet perfectly legal, widely accepted, endlessly advertised and even glorified as an All-American pastime, alcohol.
Plain and simple!
Legalize Nationwide Federally Now!
The “War on Cannabis” has been a complete and utter failure. It is the largest component of the broader yet equally unsuccessful “War on Drugs” that has cost our country over a trillion dollars.
Instead of The United States wasting Billions upon Billions more of our yearly tax dollars fighting a never ending “War on Cannabis”, lets generate Billions of dollars, and improve the deficit instead. Especially now, due to Covid-19. It’s a no brainer.
The Prohibition of Cannabis has also ruined the lives of many of our loved ones. In numbers greater than any other nation, our loved ones are being sent to jail and are being given permanent criminal records. Especially, if they happen to be of the “wrong” skin color or they happen to be from the “wrong” neighborhood. Which ruin their chances of employment for the rest of their lives, and for what reason?
Cannabis is much safer to consume than alcohol. Yet do we lock people up for choosing to drink?
Let’s end this hypocrisy now!
The government should never attempt to legislate morality by creating victim-less cannabis “crimes” because it simply does not work and costs the taxpayers a fortune.
Cannabis Legalization Nationwide is an inevitable reality that’s approaching much sooner than prohibitionists think and there is nothing they can do to stop it!
Legalize Nationwide Federally Now! Support Each and Every Cannabis Legalization Initiative!