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 […]
Michigan recreational marijuana sales may be delayed by a day or two
The first day of recreational marijuana sales in Michigan, originally slated to commence Dec. 1, could be delayed a day or two, Marijuana Regulatory Agency Director Andrew Brisbo revealed during an industry summit in Metro Detroit Thursday, Nov. 21. The first question posed to him during a marijuana industry panel: “Mr. Brisbo, what happens on […]
Sales of recreational marijuana could begin as soon as Dec. 1 in Michigan
Sales of recreational marijuana to anyone over the age of 21 could begin on Dec. 1, months earlier than previously expected. The change came when the Marijuana Regulatory Agency on Wednesday told medical marijuana businesses, including growers and processors, that they can transfer 50% of their inventory to the recreational market beginning on Dec. 1 as […]
Michigan’s recreational marijuana market could open earlier than originally expected
As recreational licenses are being processed, Michigan’s prospective marijuana businesses are becoming eager, if not antsy, to begin growing, processing and selling legal weed to the general public. As of now, based on the current rules and the length of the marijuana grow cycle once businesses are licensed, there won’t be legal recreational sales until […]
Marijuana goes on sale in Illinois in January, but tight supply may make it hard to buy. ‘There just isn’t going to be that much product available.’
When marijuana shops open their doors to the public in January, shoppers at the back of the line might notice something missing once they get inside: the weed. Nearly every state that allows recreational marijuana had some shops run out or run low in the first days of sales. In Colorado, some customers were greeted […]
Can Illinois draw marijuana tourists from out of state? Retailers take a gamble on border towns
Recreational marijuana sales are set to begin next year, and some of the potential store locations getting scouted suggest Illinoisans aren’t the only customers cannabis companies hope to attract. Amid the debate over proposed zoning rules that would ban weed sales in much of Chicago’s downtown, cannabis companies also are eyeing sites far beyond city […]
Canada Has Sold This Much Marijuana Since Its Legalization Day
According to pretty much every Wall Street analyst and independent report, legal marijuana is the next great growth trend. Sales of legal weed have more than tripled on a global basis since 2014 to $10.9 billion, and are on pace to gallop higher by five to 18 times current levels by the end of the next […]
Many Illinois marijuana businesses aren’t sure they’ll be ready for recreational sales Jan. 1. Here’s why.
The medical marijuana dispensary in Naperville snagged one of the first state licenses issued to sell recreational pot, creating expectations of a steady flow of new customers when sales start on Jan. 1. But the dispensary’s plans were shelved just five days later when the Naperville City Council voted to prohibit recreational sales in the city. […]
After marijuana legalization, the wait for retail sales is the national norm
It’s been nearly eight months since Michigan’s marijuana legalization law took effect and the first retail sales are still months away. Michiganders will have to wait until at least November to know if they’ll be able to buy marijuana at a store in time for Christmas — or wait until after the New Year. The […]
