Michigan communities with recreational marijuana dispensaries to split $10M in tax revenue – Detroit Metro Times

click to enlarge Shutterstock
It’s payday for communities in Michigan that allowed recreational marijuana dispensaries to open.

The Michigan Department of Treasury is doling out nearly $10 million this week to more than 100 municipalities and counties from excise taxes generated from recreational cannabis sales in the 2020 fiscal year. For each dispensary, a community will receive about $28,000.

The money will be distributed to the 38 cities, seven villages, 21 townships, and 38 counties where recreational cannabis businesses are located.

“The revenue generated from marijuana taxes and fees is important to our local governments,” state Treasurer Rachael Eubanks said in a statement Thursday. “In this extraordinary time, our staff is working to get those payments to impacted municipalities and counties. Every dollar helps now.”

The excise tax also generated about $11.6 million for schools and $11.6 million for roads. The remaining $12.5 million will be used to cover the state’s start-up and administrative costs for operating the adult-use marijuana system.

“Infusing over $28,000 per retailer and microbusiness into local government budgets across the state is very impactful and shows how strong and successful the industry is becoming,” said Andrew Brisbo, executive director of the state’s Marijuana Regulatory Agency.

With 22 dispensaries, Washtenaw

Read More Here…

Share on facebook
Share on twitter
Share on reddit
Share on pinterest
Share on email

Bud Digest

Scroll to Top