How much money states made from legal weed sales in 2020 | To determine how much money states made from marijuana in 2020, 24/7 Wall St. concentrated on legal state-level sales tax revenue collected by the Mariuana Policy Project’s 2021 report, “Marijuana Tax Revenue in States that Regulate Marijuana for Adult Use.” This estimate does not include local sales tax revenue. Once those taxes are collected, each state earmarks those dollars for specific programs.
How much money states made from legal weed sales in 2020
How much money states made from legal weed sales in 2020 | To determine how much money states made from marijuana in 2020, 24/7 Wall St. concentrated on legal state-level sales tax revenue collected by the Mariuana Policy Project’s 2021 report, “Marijuana Tax Revenue in States that Regulate Marijuana for Adult Use.” This estimate does not include local sales tax revenue. Once those taxes are collected, each state earmarks those dollars for specific programs.
Alaska | Estimated state sales tax revenue from adult-use cannabis in 2020: $27,205,435 – Tax rates: $50 per ounce wholesale – Year legal status approved: 2015 – Adults who have used marijuana in the last 30 days: 92,000, or 19.8% – Population: 731,545
Arizona | Estimated state sales tax revenue from adult-use cannabis in 2020: Not currently available – Tax rates: Not currently available – Year legal status approved: 2020 – Adults who have used marijuana in the last 30 days: 611,000 or 13.6% – Population: 7,278,717
California | Estimated state sales tax revenue from adult-use cannabis in 2020: $1,031,879,926 – Tax rates: 15% excise; 7.25% standard sales tax – Year legal status approved: 2016 – Adults who have used marijuana in the last 30 days: 3,742,000 or 13.4% – Population: 39,512,223
Colorado | Estimated state sales tax revenue from adult-use cannabis in 2020: $362,027,103 – Tax rates: 15% wholesale; 15% special retail – Year legal status approved: 2012 – Adults who have used marijuana in the last 30 days: 779,000 or 20.6% – Population: 5,758,736
Connecticut | Estimated state sales tax revenue from adult-use cannabis in 2020: Not currently available – Tax rates: Not currently available – Year legal status approved: 2021 – Adults who have used marijuana in the last 30 days: 347,000 or 14.4% – Population: 3,565,287
Illinois | Estimated state sales tax revenue from adult-use cannabis in 2020: $174,884,334 – Tax rates: 7% wholesale; 10%-25% retail; 6.25% standard sales tax – Year legal status approved: 2019 – Adults who have used marijuana in the last 30 days: 964,000 or 11.1% – Population: 12,671,821
Maine | Estimated state sales tax revenue from adult-use cannabis in 2020: $427,857 – Tax rates: $335 per pound; 10% sales tax – Year legal status approved: 2016 – Adults who have used marijuana in the last 30 days: 183,000 or 19.6% – Population: 1,344,212
Massachusetts | Estimated state sales tax revenue from adult-use cannabis in 2020: $118,455,230 – Tax rates: 10.75% excise; 6.25% standard sales tax – Year legal status approved: 2016 – Adults who have used marijuana in the last 30 days: 761,000 or 16.1% – Population: 6,892,503
Michigan | Estimated state sales tax revenue from adult-use cannabis in 2020: $81,705,350 – Tax rates: 10% excise; 6% standard sales tax – Year legal status approved: 2018 – Adults who have used marijuana in the last 30 days: 1,008,000 or 14.3% – Population: 9,986,857
Montana | Estimated state sales tax revenue from adult-use cannabis in 2020: Not currently available – Tax rates: Not currently available – Year legal status approved: 2020 – Adults who have used marijuana in the last 30 days: 121,000 or 17.0% – Population: 1,068,778
Nevada | Estimated state sales tax revenue from adult-use cannabis in 2020: $123,683,509 – Tax rates: 15% wholesale; 10% special retail – Year legal status approved: 2016 – Adults who have used marijuana in the last 30 days: 358,000 or 18.1% – Population: 3,080,156
New Jersey | Estimated state sales tax revenue from adult-use cannabis in 2020: Not currently available – Tax rates: Not currently available – Year legal status approved: 2020 – Adults who have used marijuana in the last 30 days: 559,000 or 9.4% – Population: 8,882,190
New Mexico | Estimated state sales tax revenue from adult-use cannabis in 2020: Not currently available – Tax rates: Not currently available – Year legal status approved: 2021 – Adults who have used marijuana in the last 30 days: 210,000 or 15.7% – Population: 2,096,829
New York | Estimated state sales tax revenue from adult-use cannabis in 2020: Not currently available – Tax rates: Not currently available – Year legal status approved: 2021 – Adults who have used marijuana in the last 30 days: 1,543,000 or 11.0% – Population: 19,453,561
Oregon | Estimated state sales tax revenue from adult-use cannabis in 2020: $158,336,274 – Tax rates: 17% retail – Year legal status approved: 2014 – Adults who have used marijuana in the last 30 days: 640,000 or 22.1% – Population: 4,217,737
South Dakota | Estimated state sales tax revenue from adult-use cannabis in 2020: Not currently available – Tax rates: Not currently available – Year legal status approved: 2021 – Adults who have used marijuana in the last 30 days: 47,000 or 8.8% – Population: 884,659
Vermont | Estimated state sales tax revenue from adult-use cannabis in 2020: Not currently available – Tax rates: Not currently available – Year legal status approved: 2020 – Adults who have used marijuana in the last 30 days: 100,000 or 22.3% – Population: 623,989
Virginia | Estimated state sales tax revenue from adult-use cannabis in 2020: Not currently available – Tax rates: Not currently available – Year legal status approved: 2021 – Adults who have used marijuana in the last 30 days: 477,000 or 8.6% – Population: 8,535,519
Washington | Estimated state sales tax revenue from adult-use cannabis in 2020: $614,475,190 – Tax rates: 37% retail; 6.5% sales tax – Year legal status approved: 2012 – Adults who have used marijuana in the last 30 days: 971,000 or 19.3% – Population: 7,614,893