Maryland Marijuana Tax Revenue 2024
- Maryland Cannabis
- Cannabis Business in Maryland
- Maryland Marijuana Tax Revenue
Related Pages:
What is the Tax Rate for Marijuana in Maryland?
In Maryland, a 9% sales and use tax is applied to the retail sale of adult-use cannabis and cannabis products. The Comptroller of Maryland oversees the administration of this tax, including the collection of taxes on the retail sales of adult-use cannabis.
Maryland Cannabis Industry Taxes
The data shows the amount of sales and use tax generated by marijuana businesses in Maryland.
The data for cannabis tax revenue in Maryland from 2023-Q3 to 2024-Q2 showed fluctuations across different regions. The Southern region experienced a decline from nearly 787 thousand in Q3 of 2023 to over 870 thousand in Q2 of 2024. Overall, total tax revenue increased from approximately 12 million in 2023-Q3 to over 22.3 million by 2024-Q2. This rise reflected higher tax collection in most regions, particularly in the Capital and Central regions.
| Quarter | CAPITAL | CENTRAL | EASTERN | SOUTHERN | WESTERN | TOTAL |
|---|---|---|---|---|---|---|
| 2024-Q2 | $3,202,851 | $11,344,469 | $3,064,398 | $873,597 | $3,871,696 | $22,357,011 |
| 2024-Q1 | $3,710,720 | $6,742,083 | $1,564,534 | $618,218 | $2,035,554 | $14,671,110 |
| 2023-Q4 | $3,827,851 | $6,601,824 | $1,356,151 | $1,037,495 | $1,752,883 | $14,576,204 |
| 2023-Q3 | $3,050,505 | $5,490,377 | $1,267,703 | $786,601 | $1,563,362 | $12,158,548 |
Last updated: October 2, 2024
Source: Comptroller of Maryland