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Maryland saw more than $22.3 million in tax revenue from adult-use marijuana sales during the second quarter of 2024\u2014a 52 percent increase compared to the prior quarter\u2014according to state officials.<\/p>\n
The state comptroller, Brooke Lierman, announced on Tuesday that cannabis tax dollars totaled $22,357,011 for the second quarter, up from $14,671,110 in the first quarter of the year<\/a>.<\/p>\n Here\u2019s how that tax revenue is being distributed:\u00a0<\/strong><\/p>\n These latest figures come about two months after the Maryland Cannabis Administration (MCA) announced that the state had reached a different marijuana milestone, with licensed retailers having sold more than $1 billion worth of legal marijuana products<\/a> since the adult-use market opened last July.<\/p>\n Comptroller Lierman today announced that Maryland collected more than $22.3 million in adult-use cannabis sales tax revenue between Q2 2024, a 52% increase in revenue compared with revenue collected in Q1 of 2024. <\/p>\n Read the full report: https:\/\/t.co\/RmyCKtxwQA<\/a> pic.twitter.com\/J2lKf0nWxJ<\/a><\/p>\n \u2014 Comptroller of Maryland (@MDComptroller) September 24, 2024<\/a><\/p>\n<\/blockquote>\n\n Meanwhile, the governor of Maryland said last month that as the state works to build upon its marijuana legalization law, he will continue to \u201cadvocate for a sane and a standard federal policy,\u201d<\/a> including banking reform so that small cannabis businesses have access to capital.<\/p>\n Gov. Wes Moore (D) said that while he\u2019s committed to ensuring that social equity is integral to Maryland\u2019s cannabis market, and his recent mass pardon for past marijuana and paraphernalia convictions<\/a>\u00a0is part of that, it remains critical that federal reform advances.<\/p>\n \u2014 The governor has been discussing his vision for cannabis reform frequently over the past couple months, as he promotes his recent mass pardon forgiving more than 175,000 marijuana and paraphernalia convictions.<\/p>\n That clemency was about more than addressing the public policy consequences of criminalization,\u201d Moore said in a separate interview. As someone who was exposed to the criminal legal system at an early age, and having been a medical cannabis patient himself, he said there\u2019s an important personal psychological impact of attaining that relief<\/a>.<\/p>\n In July, Moore and the president of the NAACP also\u00a0promoted the state\u2019s historic mass marijuana pardon<\/a>, which they said would unlock the economic potential of people targeted by criminalization. But the governor also stressed the need to get the word out about next steps for the majority of pardon recipients whose records weren\u2019t automatically expunged by his clemency move.<\/p>\n Moore has also\u00a0gained praise from the White House<\/a>\u00a0and\u00a0other officials such as Colorado Gov. Jared Polis (D)<\/a>\u00a0for his cannabis clemency move.<\/p>\n Aside from cannabis, the governor in May also signed\u00a0a pair of bills into law to establish a psychedelics task force<\/a>\u00a0that will study legal access to substances like psilocybin and DMT.<\/p>\n Do Terpenes Contribute To Medical Marijuana\u2019s \u2018Entourage Effect\u2019? New Study Says It\u2019s \u2018Plausible,\u2019 But Still \u2018Unproven\u2019<\/a><\/p>\n<\/blockquote>\n\n The post Maryland Marijuana Tax Revenue Surges 52% To $22 Million In Second Quarter Of 2024, State Officials Say<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n
Maryland saw more than $22.3 million in tax revenue from adult-use marijuana sales during the second quarter of 2024\u2014a 52 percent increase compared to the prior quarter\u2014according to state officials. The state comptroller, Brooke Lierman, announced on Tuesday that cannabis tax dollars totaled $22,357,011 for the second quarter, up fromContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":77949,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[81],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/77948"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/458"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=77948"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/77948\/revisions"}],"predecessor-version":[{"id":77950,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/77948\/revisions\/77950"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media\/77949"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=77948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=77948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=77948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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\nRead More: Maryland Marijuana Tax Revenue Surges 52% To Million In Second Quarter Of 2024, State Officials Say<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"