Cannabis sales in Ohio have surpassed $2.5 billion, driven by adult-use sales in the state, according to Division of Cannabis Control (DCC) data outlined by WCMH. More than $390 million of that total is from adult-use cannabis sales over the past seven months.
According to the DCC, two-thirds of all cannabis sales in Ohio since August have been non-medical.
Adult-use cannabis sales in the state are subject to a 10% excise tax, which equates to $37.6 million in cannabis-derived tax revenues for the state this year alone. According to a study conducted by Ohio State University’s Mortiz College of Law, the state could collect around $62 million in tax revenues from adult-use cannabis sales by the end of the year.
In all, 36% of tax funds generated by cannabis sales – or about $13.5 million – are supposed to be designated for municipalities that host cannabis businesses; however, officials are withholding the funds claiming that the voter-approved law did not include the appropriation of funds to towns and cities. A representative for Gov. Mike DeWine (R) has indicated that the withheld funds will be used to improve local jails, fund the 988 behavioral crisis hotline, and for law enforcement.
Ohio lawmakers are also considering changes to the voter-approved reforms, including scrapping the Host Community fund entirely or capping how much communities could earn.
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