Alaska Generated Almost $1 Million In Marijuana Taxes In October

alaska marijuana cannabis

Alaska voters approved marijuana legalization in 2014. Adult-use cannabis sales began in Alaska in October 2016. It took nearly 8 months for tax revenues to top the one million dollar mark (October 2016 thru May 2017). Things have since picked up quite a bit in Alaska, with marijuana taxes now approaching one million dollars a month. Per ADN:

Alaska’s commercial cannabis brought in just under a million dollars in state tax revenue in October, according to a state official.

A total of $953,591 was paid by 66 marijuana growers in October, according to data from Kelly Mazzei, excise tax supervisor at the Alaska Department of Revenue tax division.

The numbers in Alaska are not as eye-popping as in Colorado, where marijuana taxes and fees have already eclipsed the $200 million mark for 2017. But to be fair, Alaska only has about 1/7th the population of Colorado, and less tourism. $953,591 is still $953,591, and I assume Alaska will put the tax revenue to good use.

Considering that the money is basically being pulled out of thin air makes it that much more fantastic. The tax revenue does not include the amount of money Alaska is now saving by not enforcing cannabis prohibition, which provides further money for the state to work with.

Johnny Green
About Johnny Green 2278 Articles
Johnny Green is a cannabis activist from Oregon. Johnny has a bachelor's degree in public policy, and believes that the message should always be more important than the messenger. #LegalizeIt #FreeThePlant