The U.S. Census Bureau has unveiled an interactive map that provides detailed information about the quarterly revenue generated by states through cannabis excise taxes, as well as the percentage of their total revenues represented by these taxes. This dataset encompasses the second half of 2021, all of 2022, and the first half of 2023.
It’s important to note that the data for the second quarter of 2023 is still incomplete, with several states where adult-use cannabis businesses are operational not yet included. These states include Washington, New Jersey, and Maryland. Additionally, some states, such as Virginia and Minnesota, have legalized adult-use cannabis but have not yet commenced sales. The data also encompasses states that impose excise taxes on medical cannabis sales.
Among the findings, the available data reveals that the cannabis tax revenues in five states represented more than 1% of their total tax revenues during the second quarter of 2023. These states include Alaska (1.32%), Colorado (1.21%), Illinois (2.04%), Michigan (2.16%), and Oregon (3.19%). Notably, only Alaska and Michigan experienced an increase in cannabis tax revenues from the previous quarter, with substantial gains of 18.35% and 8.53%, respectively. Meanwhile, Colorado saw a marginal 0.33% decrease, Illinois experienced a more significant 3.72% decrease, and Oregon had a notable 7.95% decline.
Two additional states, Arizona (0.73%) and Missouri (0.92%), reported cannabis tax revenues that fell between 0.5% and 1% of their total revenue. Both states observed increases from their first-quarter figures, with impressive growth rates of 9.73% and 89.4%, respectively.
The remaining states included in the dataset reported cannabis tax revenues that comprised less than 0.5% of their total revenues in the second quarter. These states consist of California (0.26%), Connecticut (0.05%), Maine (0.11%), Massachusetts (0.42%), Mississippi (0.02%), Montana (0.25%), Nevada (0.17%), New Mexico (0.06%), New York (0.37%), Oklahoma (0.09%), Pennsylvania (0.20%), Rhode Island (0.13%), Vermont (0.04%), and Washington, D.C. (0.01%).
