Michigan has had medical marijuana for years and then several years ago the voters approved retail sales and general use. Between my small City, one Township and the County a total of $622,094 of tax revenue was received from the State for 2022 and $590,863 was received for 2023. The City has an ordnance limited five retail dispensaries, which are contained in an approximately half mile long highway fronting commercial district. To date I have yet to smell any weed being smoked. Is it a good thing, I really don't know long-term, but for the most part locally it is being treated like alcohol.
The State taxes marijuana sales an additional 10% over and above the 6% State sales tax. The 30% of the taxes collected within a County are split equally between the County and the municipality that has marijuana businesses. Then the other 70% goes to the School Aid fund. So, some quick math will show that local sales in 2023 amounted to approximately $19,695,433. When it comes to Federal Tax the dispensaries are taxed at approximately 40%, rather than the 21% corporate rate. Statewide marijuana sales for 2023 were just under $1,000,000,000.
Seems like a growth business to me.