Hashish excise taxes final yr in adult-use states exceeded these of alcohol by 20% with hashish taxes in most states outpacing these of alcohol, in line with an Institute on Taxation and Economic Policy (ITEP) report. Nevertheless, neither hashish nor alcohol taxes reached the income of tobacco taxes.
In all, the 11 states that had functioning adult-use markets from 2021 by April 15 collected $2.958 billion in hashish excise taxes, in comparison with the $2.474 billion collected from alcohol excise taxes in these states. Tobacco excise tax revenues reached $5.9 billion in these 11 states throughout that point.
Solely Alaska, Maine, Michigan, and Oregon noticed extra revenues from alcohol excise taxes than that from hashish excise taxes, in line with ITEP figures. Notably, Alaska has a better alcohol tax price than most states (15 cents per shot of liquor, for instance), and Maine, Michigan, and Oregon are so-called “management states” that generate revenue immediately at state-run liquor shops, the report says.
Colorado raised seven instances extra in hashish excise taxes than it did on excise taxes on alcohol. The state has among the many lowest alcohol tax charges within the nation: 2.7 cents per shot of liquor, 1.3 cents per glass of wine, or 1 cent per pint of beer. Hashish taxes in Colorado are levied at larger charges per serving – a 5-milligram edible would possibly incur round 16 cents of state tax, the report says. Colorado joined Washington State as the one two states that noticed hashish tax revenues outpace these of tobacco; state-level tobacco excise taxes within the 11 states vary from 9 to 18 cents per cigarette.
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