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The East Coast is leading the nation in cannabis tax collections.
The United States Census Bureau has published its latest second quarter data for Cannabis tax revenue States with a legal marketplace. The East Coast saw the largest increases, while West Coast markets experienced declines. Census Bureau noted that Washington state, Nevada, Maryland New Mexico, New Jersey, and Arkansas were not included in the calculations because they had not submitted their data.
East Coast Growth
New York The state of New York led the way in terms of cannabis tax revenue growth, which increased by 40% compared to the first quarter. New York reported $28 million in tax revenues for the second quarter. New York’s program has had many problems, but a crackdown against unlicensed operators as well as increased store openings helped boost tax collection.
The mature market for Massachusetts Tax revenues for the state increased by 21% in the first quarter, bringing in $50 million. Connecticut was next, reporting an increase of 10.9% and $4.7 million to the state. Maine’s tax revenue increased by 8%, while Vermont reported a 0.04% increase.
Washington D.C. was the only state on East Coast to have a disappointing result. Its tax revenue dropped by 23%, to just $391,000.
Midwest malaise
Missouri The program has been affected by recalls. Census Bureau reported that sales tax collections dropped by 10% compared to the previous quarter, bringing in $18 million.
Other midwestern states experienced slight increases. Illinois’ tax revenue increased only by 3%, bringing in $71 million. Minnesota’s tax revenue increased only by 1.8% for $3.5 millions.
Michigan reported a decline of 3,7%, but still contributed $74 million in taxes.
West Coast Crumble
California’s tax revenue fell by 1.1%, while Washington and Nevada did not report their numbers. It is still the largest tax contributor in the nation with over $155 millions in tax revenue. Montana’s tax revenue fell by almost 3%, to $12 million. Arizona’s tax revenue dropped by 0.68%, to $45 millions. Oregon’s tax contribution decreased by 0.47% in the second quarter to $38 million.
The U.S. releases experimental data, and an updated data visualisation featuring quarterly tax collection at the state-level for cannabis sales. The data visualization shows cannabis revenue as a proportion of the state’s tax revenue, where available, and a change in percent from the previous quarter.
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