The Alaska Department of Revenue reported that March’s marijuana tax revenue collections topped $1-million. This sets a new monthly record in the state. The collections continue to meet projections set speculating growth in the state’s industry.
Excise tax collections totaled $1.090-million in March, according to Juneau Empire. The old record was set in January when $1.041-million in excise taxes were collected. Excise taxes are paid at wholesale levels in the state.
Alaska’s flat tax rate is unique in the U.S. as no other states use this type of taxation structure for legal marijuana industries.
In March, cultivators sold 1,106-pounds of dry marijuana flower and 852-pounds of other plant materials. Ninety-two cultivators are paying taxes in the state.
The state expects to collect upwards of $4.6-million in marijuana tax revenue by the time the current fiscal year ends on June 30. The state is expecting to take in $9-million in its next fiscal year.