Cannabis sales in Ohio have surpassed $2.5 billion, driven by adult-use sales in the state, according to Division of Cannabis Control (DCC) data outlined by WCMH. More than $390 million of that total is from adult-use cannabis sales over the past seven months.
According to the DCC, two-thirds of all cannabis sales in Ohio since August have been non-medical.
Adult-use cannabis sales in the state are subject to a 10% excise tax, which equates to $37.6 million in cannabis-derived tax revenues for the state this year alone. According to a study conducted by Ohio State University’s Mortiz College of Law, the state could collect around $62 million in tax revenues from adult-use cannabis sales by the end of the year.
In all, 36% of tax funds generated by cannabis sales – or about $13.5 million – are supposed to be designated for municipalities that host cannabis businesses; however, officials are withholding the funds claiming that the voter-approved law did not include the appropriation of funds to towns and cities. A representative for Gov. Mike DeWine (R) has indicated that the withheld funds will be used to improve local jails, fund the 988 behavioral crisis hotline, and for law enforcement.
Ohio
