Cannabis Legalization Work Group Discusses $1 Billion in Projected Marijuana Sales, Tax Structures, More
Last week, the Cannabis Referendum & Legalization Work Group met to discuss the next steps to take in facilitating a smooth transition from Maryland’s current medical marijuana policies to the addition of recreational, adult-use as well. At the meeting, attendees discussed key topics like market demand for cannabis in the state and the taxation associated with sales. Also, data was presented that projected the Maryland cannabis market to hit $1 billion in adult-use marijuana sales within 20 months.
Legislators will be considering multiple elements such as impacts on workplace safety, the number of dispensaries, and recommended tax rates, all in an effort to create the framework for how cannabis and revenue streams will be utilized and governed by the state.