Q&A
Tax revenue from legal marijuana shops
0:50:31
·
37 sec
Council Member Brannan inquires about the tax revenue collected from legal marijuana shops. Sheriff Miranda provides estimates for different fiscal years.
- In FY 2023, legal cannabis shops brought in approximately over $700,000 in revenue
- FY 2024 saw an increase to a little over $3 million
- For FY 2025, it's estimated that $10 million will be brought in from legal cannabis shops
- The revenue comes from the state, which pays an appropriate percentage back to the city
Justin L. Brannan
0:50:31
Okay.
0:50:32
So legal, you know, legal marijuana shops bring in tax revenue for the city revenue, which is, of course, higher than that of the legal shops.
0:50:40
Could you tell us how much tax revenue has has DOF collected from the legal marijuana shops to date?
Anthony Miranda
0:50:47
I know that the in FY 23, it was estimated that the legal kind of a shop.
0:50:52
I mean, the legal cannabis shops brought in approximately over 700,000 in revenue.
0:50:57
We're in FY 'twenty 4, they're brought in close to $3,000,000, a little bit over $3,000,000.
0:51:03
And then FY 'twenty 5 is estimated that $10,000,000 will be brought in from legal cannabis shops.
