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

Marijuana Moment

Pennsylvania Lawmakers Announce New Marijuana Bill To Catch Up With Neighboring States That Have Already Legalized

Published

on

By


Two Pennsylvania lawmakers have announced plans to file a new bill to legalize marijuana in the commonwealth to fulfill a “moral obligation” to repair harms of criminalization while also raising revenue.

With the state’s Democratic caucus emboldened after retaining the House in last month’s elections—and Majority Leader Matt Bradford (D) saying there’s a “will” in the chamber to “move forward” with cannabis reform—Reps. Rick Krajewski (D) and Rep. Dan Frankel (D) are now circulating a cosponsorship memo to build support for the forthcoming legislation.

“As a state that continues to criminalize recreational cannabis, Pennsylvania is now an outlier—24 states have legalized the practice, including 5 of the 6 states that border Pennsylvania,” the legislators, who led a series of hearings on cannabis reform over the past year, said.

“But legal or not, Pennsylvanians are consuming marijuana, whether by visiting our bordering states, buying unregulated hemp loophole products at gas stations and vape shops, or purchasing in the illicit market,” they said.

Notably, the memo doesn’t mention the prospect of a state-run cannabis market, which Frankel, who chairs the Health Committee, had previously floated as a possibility. Last year he said that the model is “certainly an option.”

“We have a

Read full article on Marijuana Moment



Source link

Continue Reading

Marijuana Moment

Michigan nears $10 billion in marijuana sales (Newsletter: November 29, 2024)

Published

on

By


Feds want drug consumers on new workgroup; MD psychedelics task force; Study: Medical cannabis in prescription drug monitoring programs

Subscribe to receive Marijuana Moment’s newsletter in your inbox every weekday morning. It’s the best way to make sure you know which cannabis stories are shaping the day.

Your support makes Marijuana Moment possible…

Before you dig into today’s cannabis news, I wanted you to know you can keep this resource free and published daily by subscribing to Marijuana Moment on Patreon. We’re a small independent publication diving deep into the cannabis world and rely on readers like you to keep going.

Join us at https://www.patreon.com/marijuanamoment

/ TOP THINGS TO KNOW

The National Institute on Drug Abuse is seeking people with “lived or living experience with drug use” to join a new workgroup to help shape the federal government’s drug research agenda.

Michigan Cannabis Regulatory Agency data shows that the state is poised to hit the milestone of $10 billion worth of recreational marijuana products sold since the launch of the adult-use market by the end of this year.

The Maryland Task Force on Responsible Use of Natural Psychedelic Substances is beginning

Read full article on Marijuana Moment



Source link

Continue Reading

Marijuana Moment

DEA judge won’t remove agency from cannabis hearing (Newsletter: November 28, 2024)

Published

on

By


Australian Senate rejects legalization; State marijuana officials’ Thanksgiving messages; Study: CBG’s medical uses; FL medical cannabis licenses

Subscribe to receive Marijuana Moment’s newsletter in your inbox every weekday morning. It’s the best way to make sure you know which cannabis stories are shaping the day.

Your support makes Marijuana Moment possible…

Your good deed for the day: donate to an independent publisher like Marijuana Moment and ensure that as many voters as possible have access to the most in-depth cannabis reporting out there.

Support our work at https://www.patreon.com/marijuanamoment

/ TOP THINGS TO KNOW

A Drug Enforcement Administration judge denied a motion to remove the agency from its role in an upcoming marijuana rescheduling hearing over claims it engaged in “unlawful” communications with a prohibitionist organization—though he did criticize the agency’s and the group’s responses to the allegations.

U.S. and Canadian federal officials, along with marijuana regulatory agencies in several states, sent cannabis-related Thanksgiving guidance—with some offering friendly tips like a map of dispensaries where consumers can “stock up” ahead of the holiday and others issuing stern warnings not to cross borders with marijuana.

Australia’s Senate rejected a marijuana legalization bill, with the

Read full article on Marijuana Moment



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media