Alaska’s marijuana industry is still riding high, according to new figures from the Alaska Department of Revenue.<\/p>\n
According to tax data collected by the department, marijuana farms paid more than $1 million to the state in April, the second consecutive month with tax figures above that landmark.<\/p>\n
Since the state’s first retail sales in October 2016, the state has collected $10.4 million in marijuana proceeds, and Alaska is on pace to beat projections for the current fiscal year.<\/p>\n
For FY18 (which ends June 30), the state had projected $9.2 million in marijuana tax revenue. Through the end of April, it has collected $8.6 million.<\/p>\n
According to state law, marijuana is taxed at $50 per ounce for bud\/flower and $15 per ounce for other plant parts. The tax is collected at the wholesale level. Cities and boroughs may levy their own taxes atop the state take.<\/p>\n
Department of Revenue tax figures are the best guide to the growth of the nascent marijuana industry, which began with a 2014 legalization ballot measure approved by voters.<\/p>\n