Excise taxes for adult-use hashish in Massachusetts outpaced the state’s alcohol taxes for the primary time via December, reaching $74.2 million in comparison with $51.3 million, in response to Hashish Management Fee (CCC) figures outlined by the Associated Press. It’s the primary time hashish tax revenues topped these of alcohol.
Massachusetts adult-use hashish gross sales carry a ten.75% tax, together with a 6.25% state gross sales tax and native taxes of as much as 3%. Final fiscal yr, the state’s complete hashish tax revenues reached $208 million.
From 2018 via November 2021, Massachusetts retailers offered $2.3 billion value of adult-use hashish. CCC Chairman Steve Hoffman has described the gross sales figures as “fairly phenomenal.”
Since Massachusetts turned the primary New England state to permit adult-use hashish operations, 179 shops have began operations, together with 325 adult-use institutions which embody indoor and outside cultivators, product producers, microbusinesses, supply companies, and impartial testing labs, in response to the state information. The sector employs greater than 17,000 folks within the state.
Within the first quarter of final yr, hashish tax revenues in Illinois surpassed these of alcohol, totaling $86 million in comparison with $72 million.
Grownup-use hashish stays in style amongst Bay Staters — a November College of Massachusetts-Amherst and WCVB ballot discovered 61% of respondents had a good view of the reforms, with 13% holding considerably or very adverse views on the reforms.
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