Montanans purchased more than $300 million worth of marijuana in the first year of recreational sales.
Montana’s marijuana industry includes 432 dispensaries, employs more than 4,000 people and contributes millions of dollars of tax revenue, Kristan Barbour, an administrator of the Montana Cannabis Control Division, told the House Business and Labor Committee during the first week of the session.
“Right now there's $35,460,147 in taxes that have been collected, that is for the first three quarters of this year," she said.
Barbour informed lawmakers of some of the major concerns for the industry and regulators, including lack of access to traditional banking services that forces businesses to operate in all-cash. Federal legislation sponsored by Montana U.S. Sen. Steve Daines to allow traditional banking for cannabis businesses stalled out in December. Daines’ office says it will continue to work to pass the legislation.
Montana lawmakers during the 2023 session will consider adjustments to the state’s cannabis program as it heads into its second year.
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