Alaska Marijuana Tax Revenue Hits $1.5M in August

Monthly marijuana tax revenue in Alaska hit $1.5 million in August, another new high.

The state says the only time this year that tax revenue was below $1 million was in February.

Cultivators pay the tax, imposed when marijuana is sold or transferred from a licensed grow facility to a retail marijuana shop or product manufacturing facility.

Alaska’s Department of Revenue says about $15.8 million has been collected since October 2016, when the first legal sales began. Alaskans in 2014 voted to legalize the so-called recreational use of marijuana.

State law calls for half of the tax revenue to go toward programs aimed at reducing repeat criminal offenders. Legislation passed earlier this year calls for an additional 25 percent to go toward a marijuana education and treatment program.

Topics Profit Loss Cannabis Alaska