Recreational Pot Sales... one year later.
The numbers just released by the Cannabis Control Commission are noteworthy:
$364 million in gross sales, including $348 million during this calendar year, according to the latest data available from the CCC.
Marijuana sales are taxed at a rate of 17% to 20%. That includes 6.25% state sales tax, 10.75% state excise tax and up to 3% local taxes.
When state officials assembled the budget for the 2019 fiscal year, they estimated $63 million in marijuana tax revenues. The CCC's data website does not specify actual tax revenue, but 17% of $348 million would result in approximately $59 million in taxes, which equates to around 10 million in local tax revenue.
Framingham has lost a years worth of tax revenue thanks mostly to Giombetti and the entire Counsel and of coarse the Mayor and her marijuana swat team. Although all 9 facilities have signed host agreements, I couldn't tell you where that money sits now.. local receipts I'm told by the CFO
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posted by Jim Pillsbury @ 6:45 PM
5 Comments
5 Comments:
Are we going to lose the money from the hosts agreements due to the US Attorneys investigation into this process?
When are the dispensaries here in Framingham going to actually open? Anyone know?
If feds find issue's, money that has been paid already may have to be returned.
I've heard that two shops will open early next year. Grow facilities will open next year.
What is the delay on these opening in Framingham? Is it the fault of the city, or the process itself, or the owners are just slow to get their act together
The treason starts in Dec of 2016, when the Legislature repealed and replaced the ballot question and the governor signed it. Shortly after the Counsel was sworn in, the first piece of business was to enact a moratorium and create a Marijuana Task Force. That took a year. Throw in the easily bullied Planning Board with their restrictive zoning. Then the Mayor decided to create another marijuana swat team who have dragged their feet for another year. So, locally, it's Giomebetti, Rossi, Grove, Richardson, Siskey who spear headed the opposition. Throw in Sam Wong, Hugo and old fart doctor on the BOH and the Chair who all stood in the way of the will of the voters.
Then came the Mayor who appointed her own board of prohibitionists who are totally against anything marijuana.
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