Connect with us

Marijuana Moment

Maryland Marijuana Tax Revenue Surges 52% To $22 Million In Second Quarter Of 2024, State Officials Say

Published

on


Maryland saw more than $22.3 million in tax revenue from adult-use marijuana sales during the second quarter of 2024—a 52 percent increase compared to the prior quarter—according to state officials.

The state comptroller, Brooke Lierman, announced on Tuesday that cannabis tax dollars totaled $22,357,011 for the second quarter, up from $14,671,110 in the first quarter of the year.

Here’s how that tax revenue is being distributed: 

Community Reinvestment and Repair Fund: $7,824,954 Local governments: $1,117,851 Cannabis Public Health Fund: $1,117,851 Cannabis Business Assistance Fund: $1,117,851 State general fund: $11,178,504

These latest figures come about two months after the Maryland Cannabis Administration (MCA) announced that the state had reached a different marijuana milestone, with licensed retailers having sold more than $1 billion worth of legal marijuana products since the adult-use market opened last July.

Comptroller Lierman today announced that Maryland collected more than $22.3 million in adult-use cannabis sales tax revenue between Q2 2024, a 52% increase in revenue compared with revenue collected in Q1 of 2024.

Read the full report: https://t.co/RmyCKtxwQA pic.twitter.com/J2lKf0nWxJ

— Comptroller of Maryland (@MDComptroller) September 24, 2024

Meanwhile, the governor of Maryland said last month that as the state works to build upon

Read full article on Marijuana Moment





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Marijuana Moment

Florida Marijuana Legalization Ballot Initiative Has Enough Support To Pass, New Poll Finds As Trump Backs Reform

Published

on

By


A new poll signals that a Florida marijuana legalization initiative that’ll be on the November ballot has enough support to pass, exceeding the steep 60 percent threshold to enact a constitutional amendment under state law.

The Emerson College Polling/The Hill survey found that 63.6 percent of likely voters in Florida back the cannabis measure, while 27.2 percent are opposed and 9.2 percent remain undecided.

That includes 81 percent of Democrats, 62 percent of independents and 51 percent of Republicans—the latest signal that cannabis legalization enjoys bipartisan support in the Sunshine State.

That’s positive news for the Smart & Safe Florida campaign behind Amendment 3. While polling has consistently shown majority support for the initiative, several recent surveys have shown it falling short of the 60 percent requirement.

This latest poll involved interviews with 815 likely voters in Florida from September 3-5, with a +/-3.4 percentage point margin of error.

It comes on the heels of former President Donald Trump, the 2024 Republican nominee and a Florida resident, voicing support for the measure, as well as federal rescheduling and cannabis industry banking access.

“As I have previously stated, I believe it is time to end needless arrests and incarcerations of adults

Read full article on Marijuana Moment



Source link

Continue Reading

Marijuana Moment

Trump Supports Florida Marijuana Legalization Ballot Measure, But Wants Lawmakers To Ban Public Smoking

Published

on

By


Former President Donald Trump said on Saturday that he believes voters in his home state of Florida will approve a marijuana legalization initiative on the November ballot, arguing that “someone should not be a criminal in Florida, when this is legal in so many other States.”

Trump added that current policy ruins lives, wastes taxpayer dollars and puts people at risk of dying from cannabis tainted with fentanyl.

The former president wants lawmakers to follow up on legalization if voters approve it, however, by passing a law to ban public cannabis consumption.

“In Florida, like so many other States that have already given their approval, personal amounts of marijuana will be legalized for adults with Amendment 3,” Trump said in a post on his social media site Truth Social. “Whether people like it or not, this will happen through the approval of the Voters, so it should be done correctly.”

“We need the State Legislature to responsibly create laws that prohibit the use of it in public spaces, so we do not smell marijuana everywhere we go, like we do in many of the Democrat run Cities,” he added. “At the same time, someone should not be a criminal in

Read full article on Marijuana Moment



Source link

Continue Reading

Marijuana Moment

California Hemp Retailers Tell Lawmakers That Governor-Backed Restrictions Bill Would Close Businesses And Shrink State Revenue

Published

on

By


California hemp product retailers told a legislative committee on Monday that a governor-backed plan to restrict hemp-derived cannabinoids and hemp flower would shutter businesses across the state, lead to a loss of jobs and decrease revenue for state and local governments.

The pushback comes as various groups—including marijuana growers and medical patients who say they rely on hemp-derived CBD—raise concerns about the bill, AB 2223, and a package of amendments from Gov. Gavin Newsom’s (D) office. Critics say the plan would fundamentally reshape the state’s cannabis industry and could cause chaos by attempting to fold hemp products into the state’s marijuana supply chain.

Monday’s hearing of the Senate Appropriations Committee centered on the fiscal implications of the legislation, not whether or not it’s good policy—something Chairwoman Anna Caballero (D) reminded speakers of on a handful of occasions during the morning.

“I don’t need to hear the ‘good bill’ stuff, because we’re not here on policy,” she said at one point. “We’re here on the money.”

That comment came after representatives of the U.S. Hemp Roundtable and the hemp retailer Sunmed—who both testified in opposition—said that the underlying proposal to more tightly regulate hemp-derived cannabinoids is acceptable to them, but certain

Read full article on Marijuana Moment



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media