Massachusetts Recreational Marijuana Sales Are About To Cross The $4 Billion Mark

Massachusetts Recreational Marijuana Sales Are About To Cross The Billion Mark
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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 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. 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’s 10.75 percent excise tax. Plus, potentially up to $42.6 million could have been generated through 3 percent local use option taxes. Medical marijuana sales are not taxed in Massachusetts, provided the patient uses their card at the time of purchase. Since adult-use and medical marijuana sales began on November 5, 2018, Massachusetts has witnessed a grand total of $3.9 billion in sales through December 18. Medical marijuana sales in the state reached $962.3 million over the same time period. 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. 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. 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…

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