According to Michigan state regulators, the state could see an $18.2 million sales tax windfall from sales of medical marijuana this year.
7,002 pounds of medical marijuana products have already been sold since state monitoring began marijuana sales in October. This comes out to a total of $33,367,841.
The money raised will go to the School Aid Fund and local municipalities.
An additional $112,000 in excise taxes have also been collected from licensed medical marijuana facilities.
Only licensed provisioning centers are subject to the 3% excise tax. Dispensaries that operate under emergency rules were also required to pay sales tax. The 3% excise tax is repealed effective March 6, 2019.
