By Charles Lefebvre

Province anticipating $26 million in revenue from sales of cannabis once legalized

Mar 22, 2018 | 3:23 PM

EDMONTON – The province has released details regarding how cannabis will be taxed once it becomes legal this year.

Alberta and the federal government agreed to several principles on taxation and revenue in December which would cover the first two years of legalization.

Under the agreement, tax room of $1 per gram or 10 per cent of the producer price, whichever is greater, will be shared between federal and provincial governments.

Alberta will receive 75 per cent of the tax room, and can also collect an additional tax of up to 10 per cent of the retail price.

The province is expecting to generate $26 million in revenue from cannabis sales in 2018-19. The number is expected to rise to $80 million in 2019-20.

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There is no indication in the budget about any cannabis funding for municipalities.