TUCSON, Ariz. (KGUN) — A monthly report from the Arizona Joint Legislative Budget Committee is showing just how popular cannabis has become.
Tax figures from the state reveal cannabis sales generated more revenue than alcohol and tobacco combined.
According to the state, cannabis taxes were $18.2 million for the month of March, with alcohol and tobacco taxes only generating $3.7 million and $1.7 million, respectively, toward Arizona's general fund.
Tax collections across the Grand Canyon state were distributed in the following ways:
- Medical Marijuana Transaction Privilege Tax (TPT) of $2.9 million
- Recreational Marijuana TPT of $3.4 million
- Marijuana Excise Tax of $11.9 million
Liquor tax sales were 26.4% down compared to 2021, while tobacco taxes increased 12.3% compared to March of last year.
For a full breakdown of Arizona's tax revenue, please visit the committee's monthly fiscal highlights.
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