The Michigan Department of Treasury announced Thursday the allocation of over $290 million in cannabis tax revenue, making a significant contribution to local governments, education and transportation infrastructure. Over $87 million of these funds are being distributed to 269 municipalities and counties across the state, under the Michigan Regulation and Taxation of Marijuana Act.
Local Governments Reap Cannabis Tax Benefits
This financial boon will benefit 99 cities, 30 villages, 69 townships and 71 counties, with each eligible municipality and county receiving more than $59,000 for every licensed cannabis retail store and microbusiness within their jurisdiction. The payments, drawn from the Marihuana Regulation Fund, …
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