Maryland brought in more than $12 million in cannabis tax revenue during the first three months of legal cannabis sales to adults, which kicked off on July 1.
The figures, released this week by the state comptroller’s office, detail revenues from the third quarter of the fiscal year, which spanned from July through September. Sales of recreational cannabis during that period totaled about $158.5 million, according to the Maryland Cannabis Administration (MCA).
More than a third of the tax revenue—35 percent, or about $4.3 million—will be funneled into the state’s Community Reinvestment and Repair Fund, which is intended to support communities disproportionately harmed by cannabis prohibition.
Another three disbursements of just over $600,000 each will go to local governments, the state’s cannabis public health fund and a state cannabis business assistance fund, according to the comptroller’s office report.
Another roughly $6 million will be deposited into the state’s general fund.
Read more at marijuanamoment.net