Montana's medical marijuana industry expected to hit $18.7 million this year
Medical marijuana will soon give a small boost to Montana's general fund that could eventually rise to hundreds of thousands of tax dollars annually.
Thanks to a new law that went into effect this July, the state will soon collect taxes on about $18.75 million in medical marijuana sales in 2017, the first year
That estimate, released Tuesday by the Montana Department of Revenue, adds up to hundreds of thousands of dollars in tax revenue as providers begin submitting 4 percent of gross sales.
The department expects the state will collect $750,000 in tax revenue in the first year of SB 333, the legislation that authorized medical marijuana in Montana.
Due to administrative and startup costs to the new bill, the general fund will see only a fraction of that money this year, state officials said.
"After you factor the startup costs for the systems, you're down to only about $30,000 net impact to the general fund," said...
