Alaska Tax Revenues Soar Due to Cannabis Success
The State of Alaska Department of Revenue recently announced that it had received a record amount of cannabis tax revenue from cannabis sales in January.
Important to remember that Alaska has a total state population of about 750,000, which is equivalent to Seattle, Washington.
Also reported in the article in Civilized, "Overall the state says it's brought in over $7 million since beginning recreational sales in October 2016."
Here's where those taxes are used, according to Leafbuyer:
"... of the marijuana tax revenues collected nearly half are earmarked for a prison program designed to reduce recidivism*. Beginning in 2017, the state anticipates using [the remaining] marijuana tax revenues in the following ways:
24% to the Department of Corrections Sub
stance Abuse Treatment Program
10% of marijuana tax revenues go to community residential centers
33% for the Department of Health and Social Services Behavioral Health Treatment and Recovery Fund
33% in the pocket of the Department of Public Health and Safety’s Council on Domestic Violence and Sexual Assault
* A 2016 article in the Anchorage Daily News cannabis revenues were projected at about $1 Million per month , of which "...$3 million [annually] will go toward the recidivism reduction fund in fiscal year 2017, and $6 million in subsequent years, and of the remaining amount:
The Department of Corrections' Substance Abuse Treatment Program will receive $700,000
Community residential centers, will receive $300,000
The Department of Health and Social Services' Behavioral Health Treatment and Recovery Grants, will receive $1 million
The Department of Public Safety's Council on Domestic Violence and Sexual Assault will also receive $1 million