Missouri Cannabis Sales Rake in $240 Million in New Tax Revenue Over Past Year
Legal cannabis sales have generated $240.78 million in new sales tax revenue for Missouri state and local governments over the past 12 months. The state government collected $143.30 million, while local governments received $97.48 million, surpassing initial projections significantly.
These figures dramatically exceed the State Auditor’s original estimates following adult-use legalization in November 2022, which predicted $40.8 million in annual state revenue and $13.8 million for local governments. The 2018 medical marijuana program similarly projected modest returns of $18 million for the state and $6 million for local governments annually.
Veterans’ healthcare stands as the single largest recipient of these funds, which come in addition to industry licensing fees and payroll taxes. The revenue figures exclude a recently ruled unconstitutional 3% sales tax that some counties had implemented in incorporated areas.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
