According to new data released by the United States Census, there was nearly $9 billion in taxes garnered between 2021 and Q2 2024, with the actual number likely being much higher as some states have yet to report data for 2024.
According to the Census, legal marijuana states garnered $8.7 billion in tax revenue from the legal distribution of marijuana between the middle of 2021, and the end of June 2024. Among the legal marijuana states, California by far brought in the most marijuana tax revenue at around $2 billion, followed by Washington ($1.3 billion) and Colorado ($898 million).
It’s worth noting that some states, such as Washington and New Jersey, have not reported tax data for Q2 2024, meaning the actual number is likely considerably higher than the $8.7 billion being reported.
The Census found that among legal marijuana states, Alaska’s marijuana tax revenue was the largest percentage of the state’s overall tax revenue, at 1.27%. This was followed by Colorado at 1.21%, and Oregon at 0.89%.
According to an analysis conducted by The Marijuana Herald in July, legal marijuana states combined for over $10 billion in sales in the first half of the year, according to an analysis by The Marijuana Herald.
