Legalized in 2016 in this state on the Atlantic coast, cannabis now generates more tax revenue than alcohol. A consequence of the increase in recreational consumption, at a time when that of alcohol tends to stagnate.
“For the first time in Massachusetts, revenues from cannabis exceed those from alcohol”, relate Fortune. In the middle of the fiscal year, in December 2021, the Eastern American state collected $74.2 million in taxes on cannabis (regarding 66 million euros) once morest 51.3 million on alcohol . The higher rates applied to the psychoactive product partly explain this difference, but the magazine specifies that the consumption of alcohol has fallen slightly in recent times, while that of marijuana has largely increased.
For the whole of 2021, Massachusetts would have collected $112 million in taxes on cannabis for recreational use. “Either 206 % more than expectedby the Massachusetts Cannabis Control Commission.
These changes reflect the very strong growth of the marijuana sector since adults-only retailers opened in Massachusetts in November 2018. Total gross sales now reach $2.54 billion. […], and it is nearly $1 billion in 2021 alone.”
Towards an increase in taxes on alcohol?
Of the 18 states where the recreational use of cannabis is legal – plus the District of Columbia – Illinois also has higher revenues than alcohol.
According to the report of the Cannabis Control Commission, the opening to the sale of cannabis in shops has not caused an increase in the security or health risk. The State is now considering raising taxes on wines and spirits in order to finance the health expenditure necessary to treat the problem of alcoholism. House Democrat Kay Khan “recalls that the State spends 2.6 billion dollars a year in the fight once morest the harmful effects of alcoholism and other addictions. It should consider offsetting these costs by taxing the alcohol sector.” It now supports a bill to this effect.
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