The first year of legal recreational sales saw more than $300 million in marijuana sales in Montana. Recently, state authorities provided lawmakers with that information as well as additional changes. 432 outlets, more than 4,000 people employed, and millions of dollars in tax revenue are all part of Montana’s Marijuana business.
“As of right now, during the first three quarters of this year, taxes have been collected to the tune of $35,460,147.” This is Kristan Barbour, a representative of the Montana Cannabis Control Division, speaking to the House Business and Labor Committee during the first week of the session.
Barbour briefed lawmakers on some of the key issues facing the sector and authorities, including the inability of companies to access standard banking facilities, which compels them to function entirely in cash. As of December, federal legislation that would have permitted standard banking for cannabis businesses—sponsored by Montana U.S. Sen.
Steve Daines—had come to a standstill. In order to pass the legislation, Daines’ office says it will keep working. As the state’s cannabis program enters its second year, Montana lawmakers will discuss modifications to the law during the 2023 session.