Municipalities receive $59.5M from marijuana tax
MICHIGAN (WNEM) - More than $59.5 million is being distributed among 224 municipalities and counties across the state as part of the Michigan Regulation and Taxation of Marijuana Act.
The Michigan Department of Treasury announced on Tuesday that over the next few days, 81 cities, 26 villages, 53 townships and 64 counties will receive payments from the Marihuana Regulation Fund.
Each eligible municipality and county will receive more than $51,800 for every licensed retail marijuana store and microbusiness located within its jurisdiction for the state of Michigan’s 2022 fiscal year.
“Municipalities and counties will begin seeing these payments appear in their banking accounts,” State Treasurer Rachael Eubanks said. “Through a partnership, the dollars received from the adult-use marijuana taxes and fees are distributed to our participating communities.”
Revenue was collected from 574 licensees among the state’s cities, villages, and townships; some of these municipalities host more than one licensed retail store and microbusiness.
For the 2022 state fiscal year, there was $198.4 million available for distribution from the Marihuana Regulation Fund.
State law outlines how much is distributed from the Marihuana Regulation Fund.
Aside from the more than $59.5 million in disbursements to municipalities and counties, $69.4 million was sent to the School Aid Fund for K-12 education and another $69.4 million to the Michigan Transportation Fund.
In total, more than $1.8 billion in adult-use marijuana sales was reported for fiscal year 2022.
“The funding that makes its way to local governments through the excise tax collected by licensed retailers is an important benefit of the regulated cannabis industry and the CRA is committed to doing our part in supporting our law-abiding licensees,” said Brian Hanna, cannabis regulatory agency executive director
You can find more information about adult-use marijuana tax distributions, including a breakdown of how much municipalities and counties received, on the state’s website.
You can also learn more about Michigan’s adult-use marijuana industry on the state’s website.
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