{"id":60135,"date":"2023-01-02T10:12:37","date_gmt":"2023-01-02T18:12:37","guid":{"rendered":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2023\/01\/02\/massachusetts-recreational-marijuana-sales-are-about-to-cross-the-4-billion-mark\/"},"modified":"2023-01-02T17:45:37","modified_gmt":"2023-01-03T01:45:37","slug":"massachusetts-recreational-marijuana-sales-are-about-to-cross-the-4-billion-mark","status":"publish","type":"post","link":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2023\/01\/02\/massachusetts-recreational-marijuana-sales-are-about-to-cross-the-4-billion-mark\/","title":{"rendered":"Massachusetts Recreational Marijuana Sales Are About To Cross The $4 Billion Mark"},"content":{"rendered":"<\/p>\n

In May, Massachusetts topped the $3 billion mark in sales and is poised to eclipse $4 billion in sales in the coming weeks.<\/em><\/p>\n

By Brent Addleman, The Center Square<\/strong><\/p>\n

Adult-use marijuana sales in Massachusetts continue to stuff state coffers with cash from tax revenue.<\/p>\n

The Massachusetts Cannabis Control Commission reports that through December 18, the state saw $1.42 billion in adult-use marijuana sales this year for those residents over the age of 21. On the medical marijuana side of the industry, the state saw $260.2 million over the same time period.<\/p>\n

With adult-use marijuana sales taxed at 6.25 percent, Massachusetts saw $88.75 million in tax revenue generated through December 18. Another $152.65 million was generated from the state\u2019s 10.75 percent excise tax. Plus, potentially up to $42.6 million could have been generated through 3 percent local use option taxes.<\/p>\n

Medical marijuana sales are not taxed in Massachusetts, provided the patient uses their card at the time of purchase.<\/p>\n

Since adult-use and medical marijuana sales began on November 5, 2018, Massachusetts has witnessed a grand total<\/a> of $3.9 billion in sales through December 18. Medical marijuana sales in the state reached $962.3 million over the same time period.<\/p>\n

July and August saw the highest sales totals of adult-use marijuana at $132.5 million and $130.8 million, respectively. In October, the state saw $127.1 million and $122.2 million in sales were recorded in November. Through the first 18 days of December, sales were recorded at $73 million.<\/p>\n

For the week of December 12-18, $28.6 million in sales were conducted, with $11.195 million being spent on flower; $6.056 million on vape products; and $4.393 million for raw pre-rolled cigarettes.<\/p>\n

As sales waned slightly toward the end of the year, the price of raw flower dropped over the course of the year. In January, a gram of cannabis sold for $12.64 while in December that price dropped to $8.07 per gram.<\/p>\n

In May, Massachusetts topped the $3 billion mark in sales<\/a> and is poised to eclipse $4 billion in sales in the coming weeks. Adult-use marijuana was legalized by voters through a ballot referendum in 2016 and sales began two years later, as previously reported by The Center Square.<\/p>\n

Massachusetts had been an oasis for adult-use marijuana in New England, but Vermont and Connecticut legalized marijuana in 2021, and Rhode Island legalized it this past summer.<\/p>\n

This story was first published by The Center Square.<\/a><\/p>\n

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GOP Congresswoman Files Bill To Provide Federal Tax Relief For Marijuana Businesses By Amending IRS\u2019s 280E Code<\/a><\/p>\n<\/blockquote>\n

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The post Massachusetts Recreational Marijuana Sales Are About To Cross The $4 Billion Mark<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n


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\nRead More: Massachusetts Recreational Marijuana Sales Are About To Cross The Billion Mark<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In May, Massachusetts topped the $3 billion mark in sales and is poised to eclipse $4 billion in sales in the coming weeks. By Brent Addleman, The Center Square Adult-use marijuana sales in Massachusetts continue to stuff state coffers with cash from tax revenue. The Massachusetts Cannabis Control Commission reportsContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":457,"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\/60135"}],"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\/457"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=60135"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/60135\/revisions"}],"predecessor-version":[{"id":60136,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/60135\/revisions\/60136"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=60135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=60135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=60135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}