Alaska’s marijuana industry is still riding high, according to new figures from the Alaska Department of Revenue.
According to tax data collected by the department, marijuana farms paid more than $1 million to the state in April, the second consecutive month with tax figures above that landmark.
Since the state’s first retail sales in October 2016, the state has collected $10.4 million in marijuana proceeds, and Alaska is on pace to beat projections for the current fiscal year.
For FY18 (which ends June 30), the state had projected $9.2 million in marijuana tax revenue. Through the end of April, it has collected $8.6 million.
According to state law, marijuana is taxed at $50 per ounce for bud/flower and $15 per ounce for other plant parts. The tax is collected at the wholesale level. Cities and boroughs may levy their own taxes atop the state take.
Department of Revenue tax figures are the best guide to the growth of the nascent marijuana industry, which began with a 2014 legalization ballot measure approved by voters.
In April, Alaska marijuana farms sold 1,033 pounds of bud/flower and 990 pounds of other plant parts. The amount of bud is down from 1,106 pounds in March (a record high), but the amount of other plant parts is a record tally.
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