Montana takes in $300K in medical marijuana taxes in 3 months
Published: Oct 23, 2017, 9:14 am • Updated: Oct 23, 2017, 9:14 am
By The Associated Press
BILLINGS, Mont. — Montana medical marijuana providers paid about $300,000 in taxes for the three months ending in September.
Department of Revenue spokeswoman Mary Ann Dunwell told The Billings Gazette that most providers paid about $800 in taxes, but one brought in $30,000 in cash.
The 4 percent tax on providers’ gross revenue of the medical marijuana industry began on July 1. The proceeds will be used to administer the medical marijuana program, which is run by the Department of Public Health and Human Services. The tax rate will drop to 2 percent in July 2018.
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Nearly 19,000 medical marijuana patients and 616 providers were registered with the state in August. Dunwell says about 315 providers made tax payments.
Information from: The Billings Gazette
Topics: medical marijuana retail sales, Montana, state taxes
