Michigan recreational marijuana sales are nearing $18 million two months after the new industry’s Dec. 1 launch. With $17,699,952 in sales between Dec. 1 and Feb. 2, the state has generated $2,938,192 in tax revenue, including $1,769,995 in excise taxes and $1,168,197 in sales taxes. The excise tax on recreational marijuana is 10%. The sales […]
recreational marijuana sales
Customers bought nearly $40 million in recreational marijuana during the first month of sales in Illinois
Customers spent more than $39.2 million on recreational marijuana during the first month of legal weed sales in Illinois, and about a quarter of that came from out-of-state residents. Sales to Illinois residents totaled more than $30.6 million, according to numbers from the state’s Department of Financial and Professional Regulation. Out-of-state residents spent more than […]
Marijuana is disproportionately expensive at Michigan dispensaries, study finds
Cannabis dispensaries are convenient because they’re legal and offer a wide selection, but they’re often more expensive than your illicit drug dealer. A new study by LeafLink, a wholesale marketplace for the cannabis industry, sheds some light on the costs of marijuana at legal dispensaries. Of the 10 states in the Wholesale Cannabis Pricing Guide, Michigan […]
Illinois dispensaries sold more than $19.7 million in recreational marijuana the first 12 days of sales
Marijuana shops sold more than $19.7 million in recreational weed the first 12 days of sales in Illinois. The state said consumers made more than 495,000 purchases during that time. Sales figures were highest on the first day, Jan. 1, at almost $3.2 million, and dropped off steadily in the following days. Friday, Jan. 10, […]
Illinois marijuana dispensaries sold more than $10.8 million worth of recreational weed in the first five days of sales. Now, some have halted recreational sales amid product shortages.
Illinois marijuana shops sold more than $10.8 million worth of recreational weed in the first five days of sales, the state said. Customers made more than 271,000 purchases during that time. Now a handful of shops have halted recreational weed sales and plan to remain closed to the public for part of the week as […]
Michigan recreational marijuana sales top $3 million in 2 weeks
While the lines are shorter and the sales slightly less, Michigan’s recreational marijuana business remained brisk through its second week of existence. In two weeks, the handful of licensed, actively selling retail locations have tallied $3.1 million in sales, the state Marijuana Regulatory Agency reports. During the opening week of licensed recreational marijuana activity, predominantly […]
You can apply to run a recreational pot shop in Illinois starting Tuesday — but hurry
State regulators will start accepting applications Tuesday for the next round of licenses to operate recreational pot shops in Illinois. Applications will be accepted until Jan. 2 — the day after recreational sales kick off — and up to 75 conditional dispensary licenses will be issued by May 1, according to the Illinois Department of Financial […]
Recreational marijuana sales in Michigan exceed $1.6 million in first 8 days
In the first eight days of legal weed sales, $1.6 million of recreational marijuana was sold at the five retail shops open around the state. And three of those shops either sold out or had limited supplies of cannabis products. The sales from Dec.1-8 totaled $1,629,007 and brought in $162,900 from the 10% state excise tax […]
Cannabis shops rake in $221,000 on first day of Michigan’s legal sales
Michigan pot shops generated $221,000 in sales Sunday during the state’s first day of legal recreational marijuana purchases — generated by three licensed facilities in Ann Arbor. The total on the first day of legal adult use sales in Michigan doesn’t include the $22,100 paid to the state because of the 10% excise tax on adult use […]
Recreational Weed Would Pump $190 Million Into Florida’s Economy, Report Says
If approved in 2020, recreational marijuana could inject a whopping $190 million in sales tax and tourism dollars into Florida each year. That’s according to a recent financial analysis of an ongoing ballot initiative, which a state commission reviewed earlier this month. The analysts say the overall economic effect would be “slightly positive” — more or less […]
