The Mississippi government has collected millions of dollars in revenue from medical marijuana businesses, even though MMJ sales have not yet begun.
The state earned roughly $5.8 million in total licensing and application fees collected from cannabis dispensaries, cultivators, transporters, processors and laboratories through Sept. 19, according to multistate government news website The Center Square.
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That figure includes $4.5 million in revenue from medical marijuana dispensaries alone.
The state has issued 119 dispensary licenses to date, according to the Mississippi Department of Revenue.
Dispensary license fees include an initial $15,000 nonrefundable application fee and a $25,000 annual license fee.
Mississippi’s medical marijuana industry will be subject to a 5% excise tax on wholesale sales from growers to dispensaries as well as a 7% tax on retail sales.
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Mississippi Gov. Tate Reeves signed a medical marijuana bill into law in February.
The state’s
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