How Much Money Does State of Michigan Get From Marijuana Sales?
Recreational marijuana has been legal now for a couple of years but how much revenue is coming into the state of Michigan from marijuana sales tax?
Michigan Recreational Marijuana
In 2018, Michigan became the first midwestern state to allow both medical and recreational marijuana to be sold.
As of November 2018, anyone age 21 or older can possess up to 2.5 ounces of marijuana and grow as many as 12 plants in their home.
There are marijuana dispensaries all over the state and the products in each establishment are taxed with money going to local and state government.
How Much is Michigan Recreational Marijuana Taxed Per Purchase?
In Michigan, we all know that the tax rate for purchases is 6%. So for recreational marijuana, there is a 6% sales tax plus an additional 10% excise tax for a total of 16%. So needless to say, local and state governments are doing pretty well on the tax revenue generated from marijuana sales in the state of Michigan.
How Much Revenue Is Coming Into Michigan From Recreational Marijuana Sales?
Not that Michigan has been collecting taxes on marijuana for the past couple of years, just how much is the state bringing on the sale of buds?
FOX 17 reported that the Michigan Treasury has collected nearly $60 million in 2022 from taxes derived from marijuana sales. That is a lot of extra money to fix the damn roads.
How Much Marijuana Tax Revenue Will Go To West Michigan Cities?
The grand total for West Michigan cities for marijuana tax revenue generated in 2022 is nearly $520,000 for Battle Creek, just over $50,000 for Grand Haven, nearly $900,000 each for Grand Rapids and Kalamazoo, and nearly $625,000 for Muskegon.