Alaska October cannabis tax revenue nears $1 million

Alaska’s business hashish introduced in slightly below one million dollars in state tax income in October, in accordance with a state official.

A complete of $953,591 was paid by sixty six marijuana growers in October, in accordance with knowledge from Kelly Mazzei, excise tax supervisor on the Alaska Division of Income tax division.

October’s numbers additionally full the primary full yr of authorized marijuana gross sales, throughout which hashish generated $four,694,645 in state taxes. The state’s first marijuana outlets opened in late October 2016.

Underneath Alaska’s regulation, growers pay the tax of $50 an oz for bud and $15 an oz for different elements of the plant, like leaves and stems.

Growers bought 1,004 kilos of bud and 626 kilos of trim wholesale in October, the info exhibits.

Fairbanks had probably the most growers, with 14 paying taxes. In Anchorage, 10 cultivators paid taxes. North Pole, Soldotna, and Juneau every had 4 growers. The remaining have been scattered all through Southcentral and Southeast Alaska.

The typical tax cost was $14,448.

Many native governments have additionally put further hashish gross sales taxes in place.

Final yr, the Alaska Legislature budgeted half of the hashish tax to packages aimed toward decreasing repeat legal offenders. The opposite half goes into the overall fund.

Correction: An earlier model of this story misstated the time-frame of the state’s hashish tax income knowledge. 

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