Maryland’s Cannabis Tax Revenue Goes Through The Roof In Q2 2024: $22.3M, Most Destined For Community Repair Fund
Maryland’s cannabis market continues in an upward trajectory, with Q2 2024 tax revenue reaching $22.3 million, marking a 52% increase from the previous quarter.
The impressive growth reflects the increase in the adult-use market, which became legal last summer under the Cannabis Reform Act, which set a 9% tax rate on sales to be used for various state initiatives aimed at fostering equity and community development, reported The BayNet.
According to Maryland Comptroller Brooke Lierman, the state’s cannabis industry is more than just a revenue generator.
“The market for cannabis …