Arizona collected more than $20 million in medical and adult-use marijuana tax revenue in August, data released by the state this week shows.<\/p>\n
Medical cannabis taxes were slightly higher at $6,388,816 last month, compared to $4,542,166 collected from the recreational market, according to the Department of Revenue. The state also took in an additional $9,515,016 from the marijuana excise tax.<\/p>\n
However, these figures are preliminary and may change, as some businesses could need additional time to send in data.<\/p>\n
July\u2019s cannabis tax revenue was slightly higher compared to August<\/a>, with the state taking in about $400,000 more in the prior month.<\/p>\n While medical cannabis taxes are still outpacing those from the adult-use market, that gap has been generally been narrowing in the months since recreational sales first launched in January<\/a>. That\u2019s a trend that\u2019s been observed across numerous states after adult-use marijuana is legalized.<\/p>\n However, Arizona\u2019s medical marijuana market is well-established, and some industry experts don\u2019t necessarily expect recreational sales to overtake the medical program for some time.<\/p>\n Overall cannabis tax revenue from January through August totaled<\/a> $115,701,426, according to the data the Department of Revenue is reporting so far.<\/p>\n Other states are also seeing a windfall in marijuana tax dollars as more markets mature and sales continue to increase.<\/p>\n For example, Maine recreational marijuana sales broke another record in August<\/a>, exceeding $10 million for the first time since the adult-use market launched in October 2020<\/a>.<\/p>\n Adult-use cannabis sales in Illinois\u00a0exceeded $120 million in August<\/a>, state officials recently reported. It\u2019s the second highest sales record since the state\u2019s recreational market launched last year and the sixth month in a row that sales surpassed $100 million.<\/p>\n Massachusetts marijuana sales have topped $2 billion<\/a> since the state\u2019s adult-use market launched in late 2018, the Cannabis Control Commission reported last week.<\/p>\n California collected\u00a0about $817 million in adult-use marijuana tax revenue<\/a>\u00a0during the 2020-2021 fiscal year, state officials estimated last month. That\u2019s 55 percent more cannabis earnings for state coffers than was generated in the prior fiscal year.<\/p>\n A recent scientific analysis of sales data in Alaska, Colorado, Oregon and Washington State found that marijuana purchases \u201chave\u00a0increased more during the COVID-19 pandemic<\/a>\u00a0than in the previous two years.\u201d<\/p>\n In July alone, at least\u00a0three states saw record-breaking sales<\/a>\u00a0for recreational cannabis. The same goes for Missouri\u2019s medical marijuana program.<\/p>\n Michigan\u00a0marijuana sales broke another record in July<\/a>\u00a0with more than $171 million in cannabis transactions, according to data from the state\u2019s regulatory body. There were $128 million in adult-use sales and $43 million in medical cannabis purchases.<\/p>\n Throughout the pandemic, many states allowed cannabis retailers to remain open\u2014with governors and regulators in several markets\u00a0declaring marijuana businesses to be essential services<\/a>\u2014and some jurisdictions issued emergency rules allowing curbside pickup, delivery services or other more relaxed policies in order to facilitate social distancing.<\/p>\n California Smokable Hemp Bill Heads To Governor, While Measure On Cannabis Use In Hospitals Advances<\/a><\/p>\n<\/blockquote>\n\n The post Arizona Marijuana Tax Revenue Exceeds $20 Million In August, State Reports<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n
Arizona collected more than $20 million in medical and adult-use marijuana tax revenue in August, data released by the state this week shows. Medical cannabis taxes were slightly higher at $6,388,816 last month, compared to $4,542,166 collected from the recreational market, according to the Department of Revenue. The state alsoContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1335],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/49889"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/458"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=49889"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/49889\/revisions"}],"predecessor-version":[{"id":49890,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/49889\/revisions\/49890"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=49889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=49889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=49889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
\n
\nRead More: Arizona Marijuana Tax Revenue Exceeds Million In August, State Reports<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"