Recommended content

Mississippi reaps millions in medical marijuana fees before sales begin

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.

ADVERTISEMENT

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.

ADVERTISEMENT

Mississippi Gov. Tate Reeves signed a medical marijuana bill into law in February.

The state’s

Read full article on Marijuana Business Daily

Follow us on Instagram or join us on facebook page

Be first to rate

Marijuana Business Daily
Source

More news