The state of Alaska has received its batch of cannabis tax revenue from the first full month of retail marijuana sales.
In November, seven marijuana cultivators paid $81,100 to the Alaska Department of Revenue's Tax Division, division director Ken Alper wrote in an email.
About 98 pounds of marijuana bud and 10 pounds of trim — the leaves and stems — were sold wholesale, Alper wrote. Under Alaska law, cultivators pay the state's tax. Bud is taxed at $50 per ounce, and other parts of the plant, like the stems and leaves, are taxed at $15 per ounce.
Most of the taxes were paid in cash, and a few were paid with check, Alper wrote.
$81,100 may seem like a fairly paltry sum at this point, but remember that is ONLY with five stores operating in the entire state, and not all of them were open the entire month of November.
There are now three more stores open, with one of them in Anchorage, so I would be willing to bet that the next time the state collects taxes it will be substantially larger. (Colorado brought in 70 million in one year alone.)
I of course don't think that marijuana will ever bring in the tax revenues provided by the oil companies, but at least it is a steady source of tax income that does not require ripping the shit out of the wilderness.
So there's that.
What is the significance of paying the tax by cash vs by check?
ReplyDeleteCould it be that banks are being warned to not take "drug money"(so stupid)? That was a problem in California. The dispensaries couldn't find a bank to take their money, so they housed a great deal of cash, leaving them prone to robberies. Hell, the feds(FBI) would themselve bust these dispensaries, taking the stock(cannabis, edibles, etc) and the cash.
DeleteThe feds may try to penalize some banks that keep cannabis business accounts.
I think that ALaska has taken a step in the right direction, and other states need to take note.
The plant can help with many symptoms of chronic, incurable diseases. It's better for one's liver than alcohol, in the recreational sense. Not too many people under the influence of just cannabis want to commit violent crimes.
Ah, interesting idea, 4:14. I hadn't thought of that.
DeleteMy sons owns a glass pipe shop in Durango Co..most of these shops and cannabis shop have their own ATMs..and or a special card reader..the banks don't want to deal with any thing to do with cannabis sales.so they deal with a lot of cash,easiest way to do it
DeleteIs it going to pay sarry debt when she quitter pants office?
ReplyDeleteWhere does the tax dollars go? In the general fund? education? healthcare?
ReplyDeleteWe had the first shop open down here in Valdez and I can tell you that those growers should be fined for the crap their putting into the shops. We used to call it mexican rag weed back in the day and what these *cough* growers sell makes that rag weed look like a bargain. Until these so called growers can even begin to compete with what's been on the (black) market up here since the creation of the infamous MTF, I don't see it creating a large tax base.
ReplyDeleteDamn, that's too bad!
DeleteIf they want to compete, they will have to up their game with regards to cannabis quality.
If I can grow better in my fucking closet, why pay so much for poor-quality legal cannabis? YouTube is rife with informative growing tip videos.
Selling that no high crap with only drive it underground. Are they picking it too soon,or lousy seeds? We enjoyed *pink lemonade over xmas while in oregon. Excellent bud.
DeleteLove Snoop Dogg and Willie ;-)
ReplyDeletehttps://www.facebook.com/WillieNelson/photos/a.131673688452.129603.12597103452/10154925037318453/?type=3&theater
Can you grow your own in your state..Here in Colorado we can grow 6 plants per person living in the house
ReplyDeleteWhy such a high tax on 'other parts'?
ReplyDeleteThe other parts of certain varieties can be used in smoothies, and have had great effect at bettering if not curing some autoimmune diseases.