You are here
Home 🌿 Marijuana Politics 🌿 Saskatchewan Budget 2019: Province expecting marijuana tax revenues to bring in $5M 🌿Saskatchewan Budget 2019: Province expecting marijuana tax revenues to bring in $5M
Warning message
The subscription service is currently unavailable. Please try again later.The Government of Saskatchewan is banking on pot sales to make a small contribution to this year's bottom line.
The 2019-20 budget estimates the province will make $5 million this year, the first full year of legalization.
The province expects PST on pot sales will bring in $2 million while federal excise tax is expected to account for $3 million.
For the province to generate $2 million in PST, total pot sales would need to equal $33.3 million. in the first three months of legalization, Saskatchewan trailed the rest of the country in sales, bringing in only $2.5 million.
Like many jurisdictions, Saskatchewan marijuana sales were hindered by supply problems in the first months of legalization, with many stores closed due to lack of product.
While marijuana revenues are expected to increase, the province is expecting a decline in other 'sin taxes' this year.
Tobacco taxes are expected to bring in $234 million dollars this year, a decline of $25 million from 2016.
Revenue from the Saskatchewan Liquor and Gaming Authority are also expected to drop. SLGA revenues are expected to bring in $477 million, a decrease of $10 million from predicted 2018 numbers.
420 Intel is Your Source for Marijuana News
420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.
420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.
Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.
You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.