State: Revenues from medical marijuana lower than projected
By The Associated Press
PROVIDENCE, R.I. (AP) _ Rhode Island officials say revenues from taxing and regulating medical marijuana have been lower than projected in the two years that dispensaries, also known as compassion centers, have been legal.
There are now three compassion centers in the state selling pot to patients. The state collects a 4 percent surcharge and a 7 percent sales tax on all medical marijuana sales at compassion centers.
State officials report that revenues from medical marijuana are about half of what they projected in 2011.
Some attribute this to a delay in opening the compassion centers and changes in the state's medical marijuana statute.
Compassion centers say they face stiff competition from caregivers who are licensed to grow and sell medical marijuana but pay no taxes to the state.
(c) The Associated Press / WLNE-TV 2015