Michigan closed out 2021 with another record-breaking month of adult-use marijuana sales in December, state officials say.<\/p>\n
The state saw more than $135 million in recreational cannabis purchases and about $33 million in medical marijuana sales last month.<\/p>\n
Andrew Brisbo, executive director of the Michigan Marijuana Regulatory Agency (MRA), said on Monday that the numbers \u201cmarked another high for the adult-use industry.\u201d The previous adult-use marijuana sales record happened in October, with about $128 million in purchases.<\/p>\n
\nIt\u2019s good to note that the new high is not because of increasing prices. In fact, prices in medical and adult-use continue to drop, month over month, and year over year.<\/p>\n
Dec 2020: adult use was $350\/oz & medical was $265\/oz.<\/p>\n
Dec 2021: adult-use at $185\/oz & medical at $175\/oz.<\/p>\n
\u2014 Andrew Brisbo (@AndrewBrisbo) January 10, 2022<\/a><\/p>\n<\/blockquote>\n\n
\u201cIt\u2019s good to note that the new high is not because of increasing prices,\u201d he said. \u201cIn fact, prices in medical and adult-use continue to drop, month over month, and year over year.\u201d<\/p>\n
While December set the new record for adult-use marijuana purchases, the state saw the most combined recreational and medical cannabis sales in July, with about $171 million sold.<\/p>\n
The latest data<\/a> brings Michigan\u2019s total cannabis sales for 2021 to $1,311,951,737 for adult-use and $481,225,540 for medical marijuana. And those purchases are translating into hundreds of millions of dollars in tax revenue for the state.<\/p>\n
About $131 million is going to a cannabis excise tax fund that supports various initiatives such as infrastructure and public education, MRA spokesman David Harns said. Another $115 million will support the state general fund.<\/p>\n
\nTaxes flowing into the state of Michigan because of legalized marijuana in 2021:<\/p>\n
$131.2 million goes to the marijuana excise fund which gets divvied up amongst local government, roads, and schools.<\/p>\n
$115.4 million goes to the state sales tax bucket.<\/p>\n
Almost 1\/4 billion in taxes. https:\/\/t.co\/kw2N4shya1<\/a><\/p>\n
\u2014 David Harns (@DavidHarns) January 10, 2022<\/a><\/p>\n<\/blockquote>\n\n
In nearby Illinois, December was also another record-breaking month, with $137.9 million in adult-use marijuana sales.<\/p>\n
Last year, Illinois took in almost $100 million more in tax revenue<\/a> from recreational cannabis sales than from alcohol, state data shows. And cannabis tax dollars have exceeded those for liquor every month since February.<\/p>\n
Part of that marijuana tax revenue is actively funding equity initiatives in the state. For example, Illinois officials announced last month that applications are opening for $45 million in new grants<\/a>\u2014funded by cannabis tax dollars\u2014that will support programs meant to reinvest in communities most harmed by the drug war.<\/p>\n
States that have legalized cannabis have collectively garnered more than $10 billion in tax revenue<\/a> since the first legal sales started in 2014, according to a report released by the Marijuana Policy Project (MPP) last week.<\/p>\n
In Arizona, medical and adult-use marijuana sales topped $1 billion in the first ten months<\/a> of the year, state tax officials said.<\/p>\n
California collected\u00a0about $817 million in adult-use marijuana tax revenue<\/a> during the 2020-2021 fiscal year, state officials estimated in August. 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
\nGOP Texas Governor Says People Shouldn\u2019t Be Jailed Over Marijuana Possession, But Misstates Current Law<\/a><\/p>\n<\/blockquote>\n\n
The post Michigan Breaks Another Marijuana Sales Record For December, State Officials Say<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n
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