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Medical pot sales, tax income growing in Maine

Submitted by Marijuana News on Mon, 03/02/2015 - 15:53

Maine’s medical marijuana industry climbed to new heights in 2014, accounting for an estimated $60 million to $75 million in sales and generating as much as $4 million to $5 million in tax revenue for the state.

The legal marijuana industry still represents a small piece of the state’s overall revenue, but state tax collection numbers show a rapid growth in sales as more patients turned to dispensaries or caregivers to buy their medicine during the past four years.

The numbers also highlight the success of a trade that once was limited to an untaxed and unregulated black market.

And although small now, sales and tax revenues are only expected to keep climbing, especially if lawmakers further expand access or if Maine joins the small but growing number of states that have expanded legalization to recreational use.

“I don’t think there is a level of taxation in this program that...

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URL: 
http://www.pressherald.com/2015/03/02/medical-pot-sales-tax-income-growing-in-maine/

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