EASTERN SHORE, MD – Maryland’s Comptroller has announced the State’s cannabis sales tax revenue for the first quarter in sales, with Maryland’s Eastern Shore contributing over $1 million in revenue.
According to the Comptroller, Brooke E. Lierman, Maryland collected more than $12 million in marijuana sales tax between July and September 2023, the first fiscal quarter. Of that total, Eastern Shore Counties collected $1,267,703, just over 10% of the State’s total tax revenue from cannabis sales.
Quarterly revenue collected from marijuana sales is set for distribution among various state funds. According to the State Comptroller, now that the first quarter’s revenue totals have been tallied, the following funds are now set to receive funds in early 2024:
-Community Reinvestment and Repair Fund (CRRF): $4,255,491
35% of quarterly revenues fund community-based initiatives serving areas disproportionately impacted by the enforcement of cannabis prohibition prior to July 1, 2022.
-Maryland Counties: $607,927
5% of quarterly revenue is allocated to Maryland counties based on the percentage of revenue collected from that county. Counties will then distribute 50% of funds to municipalities with cannabis dispensaries that contribute to sales and use tax revenue.
-Cannabis Public Health Fund: $607,927
5% of quarterly revenues will be…
