Recent Report Says States with Legal Markets Have Collected More Than $20 Billion in Cannabis Tax Revenue
A new report from the cannabis advocacy group the Marijuana Policy Project (MPP) found that states have collected over $20 billion in recreational marijuana tax revenue since the first legal markets opened over a decade ago. In 2023 alone, states with legal recreational cannabis collected more than $4 billion in adult-use tax revenue. While many have pointed to declines in marijuana revenue in states such as Nevada and Colorado last year, more states continue to legalize recreational cannabis and launch their programs – which ultimately makes up for the slight decrease. Karen O’Keefe, the director of state policies with MPP, pointed out how significant these figures are for funding critical programs in many states and the importance of the economic impact of the job growth the legal cannabis industry is providing in these states.
New Colorado Bill Will Allow Cannabis Stores to Sell Food
New legislation in Colorado will allow legal marijuana stores to sell non-marijuana food items and beverages. The measure stipulates that sales from food and beverage products cannot make up more than 20 percent of a business’s overall revenue. The bill also relaxes some other restrictions that had been in place for some time, as Colorado was one of the first states to legalize recreational marijuana. For instance, under the new bill businesses can now renew their licenses every two years instead of annually. Operators that have multiple licenses will also be able to use a unified application process moving forward. As one of the first states to legalize adult-use marijuana Colorado is considered a legacy state, and as with other such states, critics feel strongly that regulations need to be examined and updated to prevent business owners from being overly constrained by outdated policies.
Group of Minnesota Home Growers File a Lawsuit to Sell Their Cannabis Without a License
A lawsuit filed by four cannabis home growers in Minnesota challenges the state’s marijuana law, which only permits licensed businesses to sell cannabis. However, the four residents are saying that a provision of the Minnesota Constitution that is over 120 years old allows them to sell their cannabis without a license as it supersedes the newly passed state cannabis law. Article 13, Section 7 of the state Constitution says, “Any person may sell or peddle the products of the farm or garden occupied and cultivated by him without obtaining a license.” If the lawsuit is successful, it could potentially allow home growers to compete with licensed retail stores in the newly legal marijuana market.
