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Benzinga
Benzinga
Business
Nina Zdinjak

Michigan Report: Weed Industry Provides $140M In Taxes To Communities, Cannabis Cup Is Back, Consumption Lounge Opens

The Michigan Department of Treasury confirmed that it will distribute more than $42.2 million across 163 municipalities and counties, under the Michigan Regulation and Taxation of Marijuana Act. This means, that 62 cities, 15 villages, 33 townships, and 53 counties will receive funds this week from the Marijuana Regulation Fund.

More precisely, every eligible municipality and county will get more than $56,400 for every licensed retail store and micro-business located within its jurisdiction. Some municipalities have more than one cannabis retail store.

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