Medical marijuana generates $6.8 million for cash-strapped state of Michigan
The state of Michigan collected nearly $7 million in extra revenue last year from the medical marijuana program.
Licensing fees from more than 80,000 applicants generated $10.8 million, according to an annual report by Michigan Licensing and Regulatory Affairs. About $4 million of that was used on expenses to run the program, delivering $6.8 million to the cash-strapped state.
The period covers Oct. 1, 2012 to Sept. 30, 2013.
Between that time, the state issued 82,193 licenses to medical cannabis users.
Michigan is among 22 states that permit the medical use of marijuana. Voters approved the legalization of recreational use in Colorado and Washington.
In the first three months of this year, Colorado raked in $12.6 million from recreational and medical marijuana.