image description

$12 million in cannabis sales revenue for Maryland

December 21st, 2023 by WCBC Radio

Comptroller Brooke Lierman announced that the State of Maryland collected more than $12 million in cannabis sales tax revenue between July and September 2023, the first quarter of sales. This revenue will be distributed in early 2024 to several funds as required by the Cannabis Reform Act of 2023, which legalized personal use of cannabis for adults over the age of 21.  The Western region made up of Garrett, Allegany, Washington and Frederick County generated $1,563,362. Under state law, the Comptroller of Maryland is responsible for collecting and disbursing sales and use tax revenue generated from the retail sale of adult-use cannabis in the state. Maryland law taxes adult-use cannabis and cannabis products at a rate of 9%.