Macomb County
Michigan communities with pot stores to split $100 million in marijuana tax revenue
From this week the green fruits of the flowering marijuana industry of Michigan will be delivered to communities where pharmacies are based.
Almost $ 100 million will be spread over 302 local entities and will date as part of the Michigan Regulation and Taxation of Marijuana Act, said the State Treasury Department on Friday.
The tax revenues of the Pot Sales from 2024 climbed to $ 331 million. The school and transport funds each receive $ 116 million, while cities, townships and provinces have almost $ 100 million, said state officials.
“The dollars receive from the marijuana taxes and reimbursements for adults, go to schools, roads and back to Michigan’s neighborhoods,” said treasurer Rachael Eanks in a press release. “Local entities and tribes can spend these dollars, but they consider them suitable for their needs.”
In Macomb County, seven cities and townships count the extra greenbacks:
- Central line – $ 640,515
- Chesterfield Township – $ 116,457
- Lenox Township – $ 58,228
- Mount Clemens – $ 232,914
- New Baltimore – $ 174,685
- Romeo – $ 116,457
- Utica – $ 116,457
The neighboring Oakland County has double the amount of communities that weed income receives than Macomb:
- Berkley – $ 291,143
- Ferndale – $ 349,371
- Hazel Park – $ 582,286
- Holly – $ 58,228
- Lake Orion – $ 58,228
- Madison Heights – $ 174,685
- Orion Township – $ 58,228
- Oxford Township – $ 174,785
- Oxford – $ 349,771
- Pleasant Ridge – $ 116,457
- Royal Oak – $ 174,685
- Southfield – $ 116,457
- Walled Lake – $ 174,685
- Waterford Township $ 232,914
According to the Michigan Regulation and taxation of the Marijuana Act, tax revenues from pot sales over the entire state are distributed in three different pots: the AID Fund school and the Michigan Transportation Fund and municipalities with at least one company.
According to the press release, 108 cities, 36 villages, 80 townships, 74 provinces and 4 tribes will receive payments from the Marijuana Regulation Fund. For the state of the fiscal year of Michigan 2024, this means that any eligible municipality, province and tribe receive more than $ 58,200 for every authorized store and microBusiness that is within its jurisdiction.
As part of the recent changes to the Stupid Act, more than $ 931,000 will be divided for the first time over four federally recognized tribes in Michigan.
For the tax year of 2024, more than $ 331 million was available for distribution of the Marijuana Regulation Fund. The turnover from the 10% marijuana excise duty of the state for adults for adults and other reimbursements go to the fund.
Apart from the nearly $ 100 million in payouts to municipalities, provinces and tribes, more than $ 116 million was sent to the school aid fund for K-12 education and another $ 116 million to the Michigan Transportation Fund.
Cannabis Regulatory Agency (CRA) Executive Director Brian Hanna, said that municipalities, provinces and tribes benefit from their local cannabis companies, including well -paid jobs, involvement of the community and increased income in their budget.
“This part of the excise income has a direct impact in the communities where our licensors work and live,” he said.
Marijuana users of Michigan lead the nation in different sales statistics, including the sale per head of the population, to become the largest regulated marijuana market in the country, according to mjbizdaily.com.
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