As the second retail store selling marijuana and related products opened this week, the Gaylord City Council received a preview of the potential tax revenue that could be generated by the fledgling industry.
Recently, the Michigan Department of Treasury said Michigan municipalities that allow recreational marijuana sales will divide more than $42 million from the state’s marijuana regulation fund for 2021. Each municipality or county will receive about $56,400 per retailer or microbusiness.
"All of the licenses were approved by the state through September 2021 are included in the distribution. So the city won't collect anything (from last year)," Gaylord City Manager Kim Awrey said at Monday night's council meeting.
Original author: Cannabis News