Cannabis tax money sent to Michigan municipalities and counties

On March 24, the Michigan Department of Treasury announced that $42.2 million in cannabis excise tax funds would be awarded to various Michigan cities, towns and counties. These funds were raised in fiscal 2021, with eligible municipalities and counties receiving funds to set up retail stores or micro-enterprises within their borders.

Andrew Brisbo, executive director of Michigan’s Marijuana Regulatory Agency, said he’s proud to see how the state’s cannabis revenues are contributing to local communities. “It is gratifying to see that the agency’s balanced approach to regulation is effectively protecting consumers while enabling Michigan businesses to thrive and thrive,” said Brisbo. “The funding being made available directly to local governments — and the thousands of jobs that have been created across the state — demonstrates that Michigan is a leader in the cannabis industry.” Each municipality or county is entitled to “more than 56,400 dollars for every licensed retail store and micro business in its jurisdiction”.

The $42.2 million in cannabis tax dollars was collected from a total of 374 cannabis business licensees across the state and is divided among 62 cities, 15 villages, 33 municipalities and 53 counties. State Treasurer Rachael Eubanks said in a press release that these funds will soon be awarded to the selected municipalities and counties. “The Michigan Department of Treasury will distribute these dollars to eligible local government entities as soon as possible,” Eubanks said. “The doubling of this year’s payment amounts will have a greater impact on local government budgets.”

The 10% state cannabis use tax raised over $111 million in 2021, with a total of $172 million available for allocation. Additionally, $49.3 million was allocated to the School Aid Fund for K-12 education and $49.3 million went to the Michigan Transportation Fund.

In 2021, $10 million of the state’s cannabis excise tax money was disbursed to 100 municipalities (38 cities, seven villages, 21 municipalities, and 38 counties). “The team at the Marijuana Regulatory Agency did a great job getting the adult use licensing program up and running efficiently,” Brisbo said in 2021 of how strong and prosperous the industry is becoming.”

The state is also welcoming its first cannabis consumption lounge in Hazel Park, called Hot Box Social, owned by Trucenta. “We are honored that Michigan has granted us the state’s first license for a consumption lounge,” said Nowfal Akash, Trucenta’s chief information officer. “Our plan is to initially use the space for corporate, social and special events. In the summer, we will begin planning events so the public can experience Hot Box Social with consumer-friendly activities such as social gatherings, educational offerings and artistic activities.”

Meanwhile, the High Times Cannabis Cup People’s Choice Edition has also returned to Michigan. While the competitor submission window has closed, judges’ kits will be made available to the state beginning April 16. “While the majority of Americans work from home or don’t work at all, we now have the ability to test and rank high-quality cannabis products from a wide range of producers from the comfort of our homes to help source the very best in each state.” to crown,” said Mark Kazinec, High Times Director of Competitions & Events. “For brands, this is the best way to get your product in the hands of hundreds of new consumers and get real feedback, especially in a time without live events. As a judge, this is the best job you will ever have and the best way to see which products work best for you.”