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Montana collects $1.8M in first year of medical marijuana taxes - Cannabis News

The state of Montana collected about $1.8 million in medical marijuana taxes over the first year the tax was charged. Starting in July 2017, the Montana Department of Revenue started administering a quarterly 4 percent tax on medical marijuana providers.

The initial revenue indicates the industry generated about $45 million in annual sales.

State lawmakers approved the tax last year as part of Senate Bill 333, a major reform of the medical marijuana system.

The money raised will be used to implement additional regulatory programs, like a seed-to-sale tracking system and regular testing and inspections.

Click here to read the complete article

Jonathon Ambarian ~ MTN News via KTVQ.com

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