Maryland Made $72 Million From Sales Tax On Recreational Cannabis in 2024

The state of Maryland made some money last year thanks to cannabis.

Per Capital Gazette

Maryland collected more than $72 million from the sales tax on recreational cannabis last year, according to state Comptroller Brooke Lierman. But some in the cannabis business say the revenue fell short of expectations.

Maryland imposes a 9% sales tax on retail sales of adult-use recreational cannabis and cannabis products. Medical marijuana purchases are not taxed.

Recreational cannabis and alcoholic beverages both have the same sales tax rate; that tax yielded $17.6 million between October and December 2024 for cannabis sales, according to Lierman’s quarterly report.

Sales tax revenue was $14.7 million in quarter one, $22.4 million in quarter two, and $18.3 million in quarter three for the rest of 2024.