States Took In $5.7 Billion In Cannabis Taxes Over 18 Months
October 16, 2023The U.S. Census Bureau has released a new report documenting state-level cannabis tax revenues. The report is slated to be updated each quarter looking ahead. In its first installment it showed states generating $5.7 billion in revenues from cannabis taxes over the 18 months from July 2021 through December 2022.
California leads the way with more than $1.4 billion collected during the period, followed by Washington at $819 million and Colorado at $648 million. Illinois and Massachusetts round out the top five at $564 million and $482 million respectively. Other states in the top ten include Michigan ($397m), Oregon ($365m), Arizona ($302m), Nevada ($237m), and Oklahoma ($112m).
The tally does not include data for some states—including the powerhouse medical market of Florida—which did not respond to data requests, and therefore underestimates the total tax revenue for the category.
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