420 with CNW — Census Bureau Report Shows Cannabis Firms Remitted $5.7B in Taxes
The Federal Census Bureau has unveiled its inaugural report on state-level cannabis tax revenue data. The report reveals that states raked in more than $5.7 billion from regulated marijuana sales over the span of 18 months, starting in July 2021 and ending in December 2022. This report's launch signifies a significant shift within some segments of the federal government, which are beginning to acknowledge the marijuana industry as a legitimate economic sector. The bureau initially disclosed its intention to gather marijuana tax data in January 2021 to incorporate into its quarterly summaries of local and state government tax earnings. Additionally,…