Medical marijuana brought more than $10 million in tax revenue to Md. in FY 2019 – MarylandReporter.com

@BryanRenbaum

bryan@marylandreporter.com

Medical marijuana produced more than $10 million in tax revenue for Maryland in FY 2019 – exceeding the amount of money the industry brought to state coffers during the previous two fiscal years combined, according to data provided by the Maryland Medical Cannabis Commission.

The latest numbers cover the period that ended on June 30, 2019. The total estimated revenue for medical marijuana for that fiscal year is $10,371,437. State expenditures for the fiscal year were $5,608,806.

In FY 2018 medical cannabis brought $3,508,494 to Maryland in tax revenue. State expenditures were $4,389,767. In FY 2017, the industry brought $4,234,017 in revenue to the state, while expenditures were $2,540,331.

Cannabis companies in Maryland made an estimated $96 million in the 12-month period from Dec. 1, 2017 to Nov. 30, 2018, according to the commission.

During the same period Illinois cannabis companies made $36.3 million, Massachusetts cannabis companies made between $25-35 million and New York cannabis companies made between $5-15 million, according to data from those respective states.

Maryland has an estimated 87 licensed cannabis shops, according to a spreadsheet provided by the commission. The majority are located in major population centers such as Baltimore City, Baltimore County, Howard County and Montgomery County.

The majority of prescriptions were written for chronic pain, severe pain, PTSD, severe or persistent muscle spasms and severe nausea.

Mitch Trellis, managing partner of Remedy Columbia, said the hurdles to opening a cannabis shop in Maryland “are many and numerous.”

Trellis said he began a working group in April 2014 but was not able to open his shop until the end of 2017. He said the application process alone took about 18 months.

“It took us close to four years to basically get to open.”

But Trellis said the wait was worth it.

“We’re

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