Montana collects $1.8M in medical marijuana taxes
Aug. 25, 2018
BILLINGS, Mont. (AP) — Montana collected $1.8 million over the first 13 months of collecting taxes on medical marijuana sales.
The Billings Gazette reports that marijuana providers have been paying an initial 4 percent tax on their gross revenues since July 2017.
The new tax is part of a regulatory overhaul passed by state lawmakers last year in response to a successful 2016 ballot initiative that resumed commercial sales of medical marijuana.
Providers' revenues now will be taxed at 2 percent after the initial 4 percent tax. The money will go toward funding the program and state oversight.
The state Department of Publican Health and Human Services reports 26,549 registered medical marijuana users and 420 providers.
Information from: The Billings Gazette, http://www.billingsgazette.com