marijuana revenue Archives - Page 2 of 3 - Cannabis Business Executive

Arizona recreational marijuana sales worth over half a million dollars in 2021

January 25, 2022
AggregatedNews
Arizona
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New data from the Arizona Dept. of Revenue shows that one year after recreational marijuana use became legal in the state, its generated over $44 million in tax revenue. Combined with medical marijuana sales, total sales of marijuana topped $1.2…

Michigan reaps $271M total marijuana revenue

Michigan has collected about $271 million in legal, adult-use marijuana tax revenue since 2019, according to a new report from the Marijuana Policy Project that analyzed tax revenue in states with adult-use cannabis since 2014. In March 2021, the Michigan Treasury described what…

Arizona dispensaries said they sold $120M in marijuana in March, but here’s why that number is off

Arizona marijuana dispensaries reported selling nearly $120 million worth of products in March, though officials at the Arizona Department of Revenue say the initial tax data are not yet reliable. The total sales and tax collections are jumbled because some…

As U.S. Cannabis Sales Boom, Curaleaf Sees Its Growth Accelerating

Sales of state-legal cannabis boomed in the March quarter. But they’ll grow even faster this quarter, judging by the guidance of the biggest licensed cannabis company, Curaleaf Holdings. March quarter revenue grew 16% from December’s for the 23-state operator, and it says…

U.S. Cannabis Sales Hit Record $17.5 Billion As Americans Consume More Marijuana Than Ever Before

The coronavirus was good for some industries and ruinous for others. For cannabis, 2020 was a breakout year. Legal sales across the U.S.—15 states allow adult use, 35 allow for medical sales—hit a record of $17.5 billion, a 46% increase from 2019, according to a new…

Colorado marijuana sales hit $2.2 billion in highest-selling year yet

February 11, 2021
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Colorado
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Amid a global pandemic that disrupted many facets of commerce, Colorado’s marijuana industry experienced its most lucrative year on record with $2.2 billion in sales in 2020. According to figures released Tuesday by the state Department of Revenue, dispensaries sold…

Legalize marijuana in Delaware? Doing so could bring plenty of green, state report finds

January 26, 2021
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Delaware
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Delaware could bring in $43 million a year in revenue if it legalizes and taxes marijuana, according to a report Monday from the state auditor. The report estimated 13% of adults in the state would consume marijuana based on data from the Substance Abuse…

Illinois sitting on $62 million in cannabis revenue meant to foster businesses and help neighborhoods hurt by poverty and violence

January 16, 2021
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Illinois
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Despite promises that cannabis legalization in Illinois would fund more minority business participation and neighborhood improvements, the state has yet to spend $62 million collected for those purposes. Part of the delay in awarding the money is due to problems…

November marijuana sales push Colorado’s industry to $2 billion annually for the first time

January 13, 2021
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Colorado
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Colorado marijuana sales in November pushed the industry’s annual revenue to $2 billion for the first time. In November, dispensaries sold $175.1 million worth of products, according to figures released by the Department of Revenue on Tuesday. Recreational sales accounted for…

What States Will Make From Marijuana Legalization

November 7, 2020
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Arizona, Mississippi, Montana, New Jersey, South Dakota
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Tuesday's election was a landslide win for marijuana. Five states: Arizona, Mississippi, Montana, New Jersey and South Dakota voted in support of legalizing cannabis in some fashion. All the states, with the exception of Mississippi, approved recreational cannabis, while Mississippi…

Recreational marijuana tax revenue passes $100 million in Illinois

October 15, 2020
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Illinois
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Illinois has collected more than $100 million in recreational marijuana tax revenue since legalizing sales on January 1, according to the state’s Department of Revenue. The tax revenue, which includes a cannabis tax, as well as state and local sales taxes, reflects…

Cannabis is Booming, But There’s Reason for Caution

2020’s record-breaking cannabis sales tell an incredibly optimistic story about the industry’s resilience during an economic downturn. Many cannabis business operators are putting all their faith into that story as they plan their next steps. Here’s why I wouldn’t get…

Edibles could boost Florida’s medical marijuana sales by $200M annually

August 31, 2020
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Florida
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The addition of edibles to Florida’s medical marijuana market could boost a projected near-$1 billion in 2020 cannabis sales by 20 percent, or $200 million, industry analysts said. The Florida Office of Medical Marijuana Use (OMMU) released long-awaited guidelines for…

Higher than expected: Illinois’ $52.8M take from marijuana sales exceeds what state projected

Illinois collected almost $52.8 million in tax revenue during the first six months of recreational marijuana sales, marking a bright spot among the state’s pandemic-scarred finances. Recreational marijuana sales have continued to rise throughout the pandemic, while many other retailers saw…

Colorado marijuana sales crack $6 billion since 2014 legalization, state says

February 13, 2019
AggregatedNews
Colorado
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Colorado marijuana businesses have sold more than $6 billion worth of weed and related products since a voter-approved measure allowing adults over the age of 21 to consume recreational pot took effect in the state on Jan. 1, 2014. The milestone…