Arizonans legalized adult-use cannabis as part of the five-state green wave that occurred in the November 2020 elections.
Arizonans legalized adult-use cannabis as part of the five-state green wave that occurred in the November 2020 elections. Since then, the state has stood out from the pack by quickly implementing and launching its adult-use market in February 2021. Sales took off in short order, amassing $2.9 million over the first 10 days. In March, sales reached $120 million.
Although there is no official sales data for Arizona, BDS Analytics, the leading cannabis market research company, estimates that sales of recreational cannabis reached an average of $55 million per month in July/August.
Record Highs Again In October
Weed sales soared again to record highs in October to nearly $58 million for the month, according to state tax officials, reported Arizona Mirror.
The Arizona Department of Revenue reported it had collected nearly $4.9 million in sales taxes—known as 'transaction privilege taxes' —were collected in October alone on adult-use marijuana sales.
In all, both medical and recreational programs have combined to more than $1.1 billion in cannabis sales in Arizona in the first 10 months of the year – with some $641 million in medical and $466 million in recreational.
Revenue from both cannabis programs has added more than $175 million in tax revenue to state coffers. Nearly $41 million of which went to the state’s general fund while $23 million to cities where the sales were made. Another $6.6 million went directly to fund public schools.
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