Around the country, states that have legalized and implemented commercial marijuana business are reaping the rewards big time. In Colorado, marijuana sales grew by a stunning 30% in 2016 and is expected to top $20 billion by 2021. Alaska is clearly no different.
Alaska’s monthly marijuana tax record broke a new record: $200,000 in tax revenue. On the 27th of March, marijuana growers in the state paid $220,000 to the Alaska Department of Revenue Tax Division, according to Kelly Mazzei, the state’s excise tax supervisor. That’s $100,000 more than the previous month.
Due to Alaska’s lack of state sales tax, growers of the plant are the ones who pay the tax. Growers are taxed $50 per ounce of marijuana, but only $15 per ounce for less valuable parts of the plants, like stems and leaves. 225 pounds of marijuana and 169 pounds of trim were sold in the state last month.
Since last October, when sales for the plant began, Alaska has collected almost $700,000 in tax revenue. Four new growers have joined the ranks of the state’s marijuana industry, so the record is likely to be broken again for the month of April.