Missouri officials on Thursday transferred more than $6.8 million derived from cannabis taxes in the state to the state Veterans Commission as required under the state’s medical cannabis law. In all, the commission has received $8.9 million from cannabis-derived taxes, according to the state Department of Health and Senior Services (DHSS).
The agency said that, since October 2020, the state has sold more than $113 million of medical cannabis. Those sales are taxed at 4%, but the first transfer of funds—$2.1 million—to the Veterans Commission came from industry fees.
Lyndall Fraker, director of the Section of Medical Marijuana Regulation with DHSS, noted in a statement that there are more than 140 dispensaries throughout the state and that regulators “are very pleased to see their sales revenue where it is.”
“Ultimately, this is how we are able to provide much-needed funding for the veteran’s commission.” — Fraker in a press release
Paul Kirchhoff, Missouri Veterans Commission executive director, said that a portion of the funds will be used to complete the Missouri Veterans Cemetery – Jacksonville columbarium wall.
Last month, adult-use advocates in the state filed a ballot initiative to legalize cannabis. The campaign must collect 175,000 signatures to put the issue to voters during next year’s midterm elections. The proposed constitutional amendment includes a 6% retail tax and the option for local governments to collect their own 3% tax on sales. Some funds derived from adult-use sales would be earmarked for veterans’ healthcare under the proposal.
Exclusive offer from our sponsor:
Get daily news insights in your inbox. Subscribe