On March 24, a Michigan Department of the Treasury He announced that $42.2 million in indirect tax money for cannabis would be provided to various cities, towns, and counties in Michigan. These funds were raised during fiscal year 2021, with eligible municipalities and counties receiving the funds for having retail stores or small businesses within their borders.
Andrew Prespo, executive director of the Michigan Marijuana Regulatory Agency, said he was proud to see how the state’s income from cannabis contributes to local communities. “It is rewarding to see that the agency’s balanced regulatory approach effectively protects consumers while still allowing Michigan businesses to grow and thrive,” Presbyo said. “The funding provided directly to local governments — and the thousands of jobs created across the state — show that Michigan is leading the way in the cannabis industry.” Each municipality or county is eligible to “receive more than $56,400 for each licensed retail store and small business within its jurisdiction.”
Cannabis tax money of $42.2 million was raised from A A total of 374 people licensed to trade cannabis Across the state, it will be divided between 62 cities, 15 villages, 33 towns and 53 counties. State Treasurer Rachel Eubanks said in a press release that this money will be provided to selected municipalities and counties shortly. “The Michigan Department of the Treasury will distribute these dollars as soon as practicable to eligible local units in the government,” Eubanks said. “A doubling of this year’s payment amounts will have a greater impact on local government budgets.”
With a state’s 10% cannabis excise tax, more than $111 million was raised in 2021 with a total of $172 million available for allotment. In addition, $49.3 million is earmarked for the School Aid Fund for K-12 education, and $49.3 million is for the Michigan Transportation Fund.
at 2021, $10 million in state cannabis tax money has been sent to 100 municipalities (38 cities, seven villages, 21 towns, and 38 counties). “The team at the Marijuana Regulatory Agency has done a tremendous job creating and efficiently operating this adult use licensing program,” Prespo said in 2021. The strength and success of the industry. ”
The state is also welcoming the first cannabis lounge in Hazel Park, called Social Hot BoxOwned by Trucenta. “We are honored that the state of Michigan has granted us the state’s first license for a consumption lounge,” said Trosinta CIO Nuval Akash. “Our plan is to use the space for corporate, social, and private events. In the summer, we will begin scheduling events so that the public can experience Hot Box Social through consumption-friendly activities such as social gatherings, educational opportunities, and activities focused on the arts.”
Meanwhile, the High Times People’s choice version of the cannabis cup He also returned to Michigan. While the Competitor Submission window passes, the arbitrator groups will be available to the state starting April 16. “While the majority of America works from home, or not at all, we now have the opportunity to test and grade high-quality cannabis products from a wide range of producers from the comfort of our homes to help crown the best in every state,” High Times Director of competitions and events. “For brands, this is the best way to get your product to hundreds of new consumers and get real feedback, especially at a time when there are no live events. For judges, this is the best job you ever get, and the best way to find out which products work best for you.”