(HELENA) State leaders say they have already collected about $380,000 in the first three months of a new tax on medical marijuana providers.
Providers had until Monday to report their sales for the first quarter of the fiscal year and to pay a 4 percent tax on them.
So far, the Montana Department of Revenue has processed reports from 393 medical marijuana providers, who reported a total of about $9.5 million in revenues for July, August and September. The average tax payment was just under $1,000, but a department spokesperson said one provider paid $30,000.
Department leaders said about 15 percent of the tax revenue was paid in cash, while the rest came in by check or through an online payment system. Officials expected more cash than they usually collect because the medical marijuana industry operates primarily in cash.
The Revenue Department spokesperson said Friday they’re still processing payments.
The new tax took effect July 1 as part of Senate Bill 333, a major medical marijuana reform state lawmakers approved earlier this year. The money raised will be used to operate a marijuana tracking system and other new regulatory programs for the industry.
On July 1, 2018, the tax will drop from 4 percent on all providers’ gross sales to 2 percent.