The Michigan Department of Treasury today announced that more than $87 million is being distributed among 269 municipalities and counties as a part of the Michigan Regulation and Taxation of Marijuana Act.
Over the next few days, 99 cities, 30 villages, 69 townships and 71 counties will receive payments from the Marihuana Regulation Fund. For the state of Michigan’s 2023 fiscal year, this means each eligible municipality and county will receive more than $59,000 for every licensed retail store and microbusiness located within its jurisdiction.
“This week, many Michigan municipalities and counties will begin seeing their share of adult-use marijuana 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. These dollars may be spent how our local units deem fit to their needs.”
Revenue was collected from 737 licensees among the state’s cities, villages and townships during the 2023 fiscal year. Some of these municipalities host more than one licensed retail store and microbusiness.
For the 2023 state fiscal year, there was more than $290.3 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 $87 million in disbursements to municipalities and counties, $101.6 million was sent to the School Aid Fund for K-12 education and another $101.6 million to the Michigan Transportation Fund.
“The tax funding for municipalities and counties that comes from the marijuana excise tax is a very important benefit of the legal cannabis industry in Michigan,” said Cannabis Regulatory Agency (CRA) Executive Director Brian Hanna. “The CRA is committed to doing our part in supporting our licensees so that they can continue to grow the local economy throughout the state with good-paying jobs and increased revenues for local government budgets.”
Related Articles
Michigan Marijuana Sales Surpassed $3 Billion In 2023
In 2023 according to sources on the internet the Michigan lottery made 46 million , liquor taxes made $31.5 billion this year, a slight increase from previous projections but close to $400 million less than the previous year. Marijuana about 3 billion. Michigan's...
Whitmer signs bill stripping gun rights for non-violent offenders
Gov. Gretchen Whitmer proudly showcases a crucial bipartisan gun violence bill package that she recently signed into law, underscoring her unwavering dedication to safeguarding the lives of those vulnerable to domestic violence. This essential measure reflects the...
More Posts
Legal Consequences of Rescheduling Marijuana – 2024
Legal Consequences of Rescheduling Marijuana Jan 2024 a report from the Congressional Research Service.
Scientists Discover The Reason Cannabis Causes The Munchies
For the first time, scientists have uncovered the precise neurological impacts of cannabis use that give rise to the phenomenon famously referred to as the "munchies," as revealed by an innovative study backed by federal funds. Researchers at Washington State...
Maker of CBD products asks court to decide
The Petitions of the Week column highlights a selection of cert petitions recently filed in the Supreme Court. A list of all petitions we’re watching is available here. Organized crime, from the mafia to small-time money laundering schemes, often evades criminal...
Transcription of the 1789 Joint Resolution of Congress Proposing 12 Amendments to the U.S. Constitution
This information was taken from archives.gov. One should assume it is factual... but assuming information is a fact is a perilous assumption. Here is what you paid for... Transcription of the 1789 Joint Resolution of Congress Proposing 12 Amendments to the U.S....
New laws for 2024 – Buckle Up
States nationwide will welcome the upcoming year with the implementation of laws tackling crucial matters such as gun violence, book bans, and the introduction of gender-neutral toy sections. These legislative advancements are set to take effect throughout 2024,...
Biden Issues More Cannabis Pardons but…
Joe Biden has extended pardons for individuals charged with simple cannabis possession and use, yet disappointingly, he has refrained from granting clemency to those currently incarcerated for cannabis-related offenses.In an extension of the previous year's extensive...
Working With and Not Against, IRS Revenue Code 280E
Cannabis operators face IRS Revenue Code 280E restrictions, but smart tax planning and strategies allow entrepreneurs to mitigate its impact on their business.Komorn Law is Michigan's top cannabis law firms when it comes to licensing, consulting and legal defense....
Department of Attorney General Prepares for MLEAC Accreditation
LANSING – The Michigan Department of Attorney General (DAG) recently welcomed a team of assessors from the Michigan Law Enforcement Accreditation Commission (MLEAC). The assessors came to examine all aspects of the Department’s compliance with the MLEAC standards in...
Oklahoma’s wild marijuana market is about to shrivel
The world's weed market, once booming with nearly 14,000 licensed medical marijuana businesses at its peak, has experienced a steady decline since Oklahoma voters overwhelmingly rejected a recreational legalization referendum in March. Heightened enforcement by state...
400K settlement after being arrested for a DUI, even though he passed breath and blood tests
A Colorado man is poised to receive a $400,000 settlement from city authorities after being wrongfully arrested for a DUI, even though he had passed both a breath and blood test.According to the complaint, Elias was driving southbound on College Avenue in Fort Collins...
