Скачать или смотреть Michigan senators seek repeal of wholesale tax after 16% drop in January cannabis sales

A controversial Michigan marijuana wholesale tax went into effect Jan. 1, putting an extra 24% charge on the books for distributors.

The tax was put in place to pay for road work, but a bipartisan group of some senators wants to see the marijuana tax structure returned to what voters approved in 2018.

Analysts projected the wholesale tax could bring in more than $400 million, though the cannabis industry and independent reports questioned whether that would actually materialize.

Now, new Cannabis Regulatory Agency data shows a steep drop-off in revenue, from $269.2 million in December to $226.4 million January, a 16% decline.
_______________
Stay up to date with our social media:

WWMT on Facebook:   / wwmtnews  
WWMT on Twitter:   / wwmtnews  
Subscribe to WWMT on YouTube:    / @wwmtnews  

WWMT Daily News Digest:    • WWMT-TV Daily Digest  

For more information, visit https://www.wwmt.com/

Have a news tip? Send it directly to us:

Email us: desk@wwmt.com
Call the Newsroom: 800.875.3333

WWMT is a MI based station and a CBS Television affiliate owned and operated by Sinclair Broadcast Group. Sinclair Broadcast Group, Inc. is one of the largest and most diversified television broadcasting companies in the country today.

#WWMT #NEWSCHANNEL3 #Kalamazoo #Michigan #shorts