Alaska’s Marijuana Industry Tax Revenue Reaches $1M

medicalmarijuana July 6, 2017 Comments Off on Alaska’s Marijuana Industry Tax Revenue Reaches $1M
Alaska’s Marijuana Industry Tax Revenue Reaches $1M

Alaska’s marijuana industry has brought in more than $1 million in tax revenue since commercial sales began in October.

The Juneau Empire reports (http://bit.ly/2sJSyAe ) that June 30 was the due date for Alaska cannabis growers to pay taxes collected in May. The state’s May revenue was $272,600, which is the highest of any month since October and pushed overall tax revenue to $1.2 million.

The Department of Revenue predicted earlier this year that the state would collect $2 million in the fiscal year that ended July 1. The revenue will miss that mark, but sales are no the verge of increasing.

Kelly Mazzei of the department’s tax division says outdoor growing operations have not yet made their first harvest. She says when that happens the state’s tax revenue might soar.

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