Montana marijuana sales total $22.6M in January

February 2, 2022
AggregatedNews
Montana
0 Comments

Montana marijuana businesses sold $22.5 million in cannabis products in January, the first month recreational marijuana sales were legal in the state, the Department of Revenue reported Tuesday.

Recreational sales totaled nearly $12.9 million in January while medical sales totaled nearly $9.8 million, the agency said.

The sales brought in an estimated $2.9 million in taxes for the state. Recreational marijuana is taxed at 20% while medical marijuana products are taxed at a 4% rate.

Montana voters approved recreational marijuana use for adults 21 and older in November 2020. The 2021 Legislature passed a bill to implement the program beginning on Jan. 1, allowing adults to buy and possess an ounce of cannabis, up to 8 grams of concentrate or edibles containing up to 800 mg of THC — the main psychoactive compound in cannabis.

Adult-use marijuana businesses are not allowed in counties whose voters rejected the recreational marijuana ballot measure, unless they hold another special election where adult use is approved.

[Read more at Manistee News Advocate]

This Post Has 0 Comments