Maryland voters approved the state’s recreational cannabis legalization law in November 2022. In the spring of 2023, Maryland’s Legislature passed the accompanying Cannabis Reform Act (H.B. 556/S.B. 516), with the measure taking effect on May 3, 2023.
Adult-use cannabis sales began in Maryland on July 1, 2023, with recreational cannabis products being subjected to a 9% sales and use tax, which is the same rate that applies to the sale of alcoholic beverages in Maryland.
In Maryland, there are currently 96 licensed dispensaries operating across the state’s 23 counties and Baltimore City. Maryland Comptroller Brooke E. Lierman announced last week that Maryland’s legal adult-use cannabis industry generated more than $14.6 million in recreational cannabis sales taxes between January and March 2024. Adult-use cannabis and cannabis products are taxed at a rate of 9% in Maryland.
The state of Maryland collected more than $14.6M in revenue from adult-use cannabis sales during Q1 in 2024, according to Comptroller Brooke Lierman.
The Capital region collected $6.7M in sales tax, followed by Central region with $3.7M.
Q1 revenue was up from Q4 in 2023.
— Mikenzie Frost (@MikenzieFrost) June 26, 2024
According to original reporting by Fox 45 News, the Maryland Community Reinvestment and Repair Fund will receive $4,156,888, Maryland counties will receive $593,841, the Cannabis Public Health Fund will receive $593,841, and another $593,841 will go to the Cannabis Business Assistance Fund.
Additionally, the Maryland’s General Fund will receive $5,938,412, and $2,794,286 will be allocated to the Maryland Cannabis Administration to support operational costs.
“The Capital Region, comprising the two most populous counties in Maryland — Montgomery and Prince George’s — accounted for more than $6.7 million in taxes, a 76% increase over the previous quarter. The amount represented 46% of all cannabis taxes collected in the first three months of the year, the first time the region has led the state in cannabis taxes remitted.” reported Maryland Matters.
According to updated data on the Maryland Cannabis Administration’s sales dashboard, the state’s legal cannabis industry sold $92,291,643 worth of medical and adult-use cannabis products in April 2024. The sales total was down from $95,956,410 in March 2024.
Maryland’s legal medical cannabis sales were roughly $30 million in April 2024, with adult-use cannabis sales making up the remainder of the April 2024 total. By comparison, medical cannabis sales were roughly $32 million in March 2024.
Cannabis flower dominated Maryland’s legal cannabis sales, with flower accounting for a combined $56 million of April’s sales total ($40 million from adult-use sales, and $16 million from medical sales).
Concentrates and oils, including vape pen cartridges, made up a combined $25 million in sales in April ($16 million from adult-use sales, and $9 million from medical sales). Edible sales totaled $12 million in Maryland in April 2024 ($7 million from adult-use sales, and $5 million from medical sales).