Maryland Comptroller Brooke E. Lierman announced today 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.
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).