Minnesota Begins Collecting New Taxes On THC Products, Revenues Poised To Grow

By Caroline Cummings, CBS Minnesota

October 17, 2023

MINNEAPOLIS -- Minnesota has collected $1.5 million in revenues from a new surcharge on hemp-derived THC edibles sales, according to preliminary data from the first two months of the tax that took effect this summer.

In addition to existing sales taxes, the state legislature on June 30 implemented a 10% gross receipts tax on the products legalized last summer as long as the THC comes from hemp plants.

Sales totaled $7 million in July, bringing in nearly $700,00 in revenues and $8.4 million in August, which is $842,000 to the state's coffers—the two months for which there's data available. September totals will be tallied later this month after the Oct. 20 deadline to file, a Department of Revenue spokesman said in an email.

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