Arizona cannabis sales top $1.2 billion in first eleven months of 2021

Arizona cannabis sales top $1.2 billion in first eleven months of 2021
Jan
12
Wed

By 

Arizona cannabis sales continued on an upward trajectory in 2021, with the Arizona Department of Revenue reporting more than $1.23 billion in combined cannabis sales through the first 11 months of the year.

In November, adult-use recreational cannabis sales hit a new peak and crossed $60 million for the first time. Medical sales have fluctuated throughout the year, topping out at about $73 million in March and April.

Medical sales eclipsed recreational from February through October — adult-use sales began on Jan. 22 — but in November, those numbers were almost identical, with the medical program bringing in an estimated $60,365,545, while recreational sales reached $60,299,191.

In October, estimated cannabis sales for both programs were within $7 million of each other, the first time recreational sales came within $10 million of medical sales. But the adult-use market is in its infancy and is expected to match the medical program’s economic heft within a few years.

Cannabis sales also provided a solid tax contribution in 2021. 

The state collects 16% excise tax on recreational sales in addition to the standard sales tax; medical patients pay a 6% excise tax. Local jurisdictions charge an additional 2% or so for all marijuana sales.

Continue Reading