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Estimated Tax Haul From Marijuana Sales In Michigan Could Grow To $134 Million Per Year

The numbers are based on estimates of nearly 1 million Michiganders

By the time Michigan’s recreational marijuana market is fully fleshed out, $134.5 million in tax revenues will be flowing into the state’s coffers annually.

But there’s a big caveat: Michigan voters will first have to pass a ballot proposal on Nov. 6 to legalize marijuana for adult recreational use.

The figures for state tax revenues — from the 6-percent sales tax and a 10-percent excise tax — come from VS Strategies, a Colorado-based cannabis consulting firm hired by the Coalition to Regulate Marijuana Like Alcohol, which is spearheading the campaign to legalize pot in Michigan.

 

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