WASHINGTON, D.C.: States that have legalized the sale of medical or adult-use cannabis have collected more than $8.7 billion in cannabis-related taxes since 2021, according to calculations compiled by the federal government.
The analysis also includes tax revenue forecasts through the second quarter of this year. However, the report's authors acknowledged that not all states provided up-to-date data, which suggests that the total state taxes collected during this period could exceed $8.7 billion. It means high.
The analysis found California collected $156 million in cannabis taxes during the reporting period, followed by Michigan ($75 million), Illinois ($72 million), Colorado ($61 million) and Massachusetts. ($50 million) and Arizona ($45 million).
A previous analysis released earlier this year by the Marijuana Policy Project reported that retail sales of adult-use cannabis products have generated more than $20 billion in state tax revenue since 2014.
Report tables are available from the U.S. Census Bureau.
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