Michiganders Spent $341 Million on Recreational Marijuana In 2020
Michiganders definitely took advantage of recreational marijuana during the pandemic and throughout 2020.
The state reported a combined sales of $341 million in recreational marijuana sales for 2020 and that number is just a preview of what sales could be in the coming years.
Marijuana was officially legal on December 1, 2019, but it was months before local governments approved the sale of recreational marijuana and then ever more time before the recreational shops had their permits approved. And now that the industry has a foothold in the state and more and more shops are opening up, expect 2021's total sales to show a significant increase.
Of the $341 million in sales, a little over $45 million in taxes and fees will go into the Michigan Marihuana Regulation Fund.
According to an article from Growcola.com, the $45.7 million generated from taxes and fees will be put into the Marihuana Regulation Fund for disbursement.
- $10 million goes to municipalities and counties
- $11.6 million goes to the School Aid Fund for K-12 education
- $11.6 million goes to the Michigan Transportation Fund
- $12.5 million goes to start-up and administrative costs
Not every county or city will receive a portion of the funds because state law requires that a county or city opt in to the sale of recreational marijuana and only those that do so are eligible to receive a portion of the funds.