US Adult-Use Marijuana Tax Revenue Exceeds $3.7 Billion in 2021

US Adult-Use Marijuana Tax Revenue Exceeds .7 Billion in 2021
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Sales of adult-use marijuana generated more than $3.7 billion in tax revenue for states with legal recreational cannabis in 2021, according to a recent report from the nonprofit Marijuana Policy Project. The figure, which marks a 34% increase in adult-use cannabis tax revenue over the previous year, represents taxes on recreational marijuana sales only and doesn’t include medical cannabis tax revenue; application and licensing fees paid by cannabis businesses; income taxes generated by employees in the cannabis industry; or corporate taxes paid by licensed adult-use marijuana companies to the federal government. “Our report is further evidence that ending cannabis prohibition offers tremendous financial benefits for state governments,” Toi Hutchinson, president and CEO of the Marijuana Policy Project, said in a statement from the group. “The legalization and regulation of cannabis for adults has generated billions of dollars in tax revenue, funded important services and programs at the state level, and created thousands of jobs across the country. Meanwhile, the states that lag continue to waste government resources on enforcing archaic cannabis laws that harm far too many Americans.” The MPP report includes updated 2021 tax revenue figures for all states that have legalized and regulated adult-use marijuana. The report also reviews each state’s adult-use cannabis tax structure and population data. The cannabis policy reform advocacy group noted that in states with legalized recreational marijuana, taxes on adult-use cannabis sales can be dedicated to community services and social programs, including funding education initiatives such as new school construction, early literacy programs and public libraries. States have also used the tax revenue to provide services such as “bullying prevention, behavioral health, alcohol and drug treatment, veterans’ services, conservation, job training, conviction expungement expenses, and reinvestment in communities that have been disproportionately affected by the war on cannabis, among many others,” MPP noted in its report. 18…

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