Nearly $7 Million in Cannabis Tax Revenue Goes to Missouri Veterans
Medical marijuana is bringing big revenue to the state of Missouri. In the past year, the cannabis industry has created over 5,000 jobs in the Show Me State and is on pace to generate around 200 million dollars in revenue this fiscal year. That money does more than benefit employees and entrepreneurs. Nearly seven million dollars brought in by medical marijuana recently went to veterans.
Armed forces veterans in Missouri are seeing benefits across the board from the legalization of medical marijuana. In addition to the funding provided by the taxes paid on medical marijuana purchases, many are using cannabis as an effective treatment for chronic pain and PTSD.
Remember, in order to enjoy the relief that medical marijuana provides, you’ll need a Missouri medical card. If you still need a card, our team of physicians are available to take you through a quick and easy evaluation to see if you qualify. To schedule an appointment, CLICK HERE, or give us a call at (877) 303-3117.
Medical Marijuana taxes bring in big dollars.
Article XIV of Missouri’s state constitution, which was adopted in September of 2018, requires that all medical marijuana products sold in state dispensaries be taxed at a rate of four percent. With over 140 active dispensaries open for business, the funds are adding up.
Where do the medical marijuana taxes go?
The Missouri Department of Health and Senior Services explains that those taxes, after operational expenses, are transferred over to the Missouri Veterans Commission (MVC). All state medical marijuana revenue is routed here, which means that, as marijuana spending in the state rises, so will the benefits to veterans.
The first transfer of these taxes to the MVC was made in September of 2020 and totalled over 2.1 million dollars. The second set of transfers, which was made in 2021 totalled approximately 6.8 million dollars - more than three times the previous year’s tax revenue.
Last month, the Missouri Department of Health and Senior Services released their second annual report of the state’s Medical Marijuana Regulatory Program, detailing the increase in applications and over 56,000 new patient licenses granted and over 12,000 renewed. The state of Missouri continues to eclipse it’s own record numbers in medical marijuana sales. If this trend continues as expected, the MVC can expect their funding from cannabis taxes to increase each year.
How do veterans benefit?
Missouri Veterans Commission Executive Director Paul Kirchoff stated “MVC will use these funds for veterans’ health and safety initiatives designated in House Bill 8,” According to a study by the University of Missouri, there are approximately 425,000 veterans in Missouri. This means that just over 9 percent of the state’s adult population stands to benefit from those health and safety initiatives.
Kirchoff went on to state that “a portion of these funds will also be used to complete the Missouri Veterans Cemetery – Jacksonville columbarium wall.” The Jacksonville veterans cemetery broke ground on the wall in September of 2021. The columbarium wall is a structure for the public storage of funeral urns, and gives the families of veterans a place to store the ashes of their loved ones in an honored place.
Missouri medical marijuana patients can feel confident in their choice to seek the relief of cannabis. Not only are they helping themselves, they are also helping those who served our nation’s military with every dollar they spend.
Ready for natural relief?
In order to purchase medical marijuana in Missouri, you’ll need a valid medical card. If you don’t have one yet, our doctors can help take you through a quick and easy evaluation process to see if you qualify. Just give us a call at (877) 303-3117 CLICK HERE to schedule an evaluation.
Doctors Who Care. Relief You Can Trust.
At Missouri Marijuana Card, our mission is helping everyone achieve wellness safely and conveniently through increased access to medical marijuana. Our focus on education, inclusion, and acceptance will reduce stigma for our patients by providing equal access to timely information and compassionate care.
Call us at (877) 303-3117, or simply book a medical marijuana evaluation to start getting relief you can trust today!
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