As the cannabis industry expands, Michigan can expect greater tax revenue.
Since 2019, the state has collected about $271 million in adult-use marijuana tax revenue, a website called The Center Square reports:
In March 2021, the Michigan Treasury described what adult-use cannabis taxes collected in fiscal year 2020 will fund:
“[a]side from the nearly $10 million in disbursements to municipalities and counties, around $11.6 million will be sent to the School Aid Fund for K-12 education and another $11.6 million to the Michigan Transportation Fund, upon appropriation. The remaining $12.5 million amount will be used toward start-up and administrative costs.”
Michigan pot sales started booming in 2020, says the report from the government and economic news site supported by a Chicago foundation.
