Friday, June 24, 2022
High Yields Cannabis/Marijuana/ Weed News
  • Home
  • Cannabis Strains
  • Cannabis Laws
    • State Marijuana Laws
    • International Marijuana Laws
  • Product Reviews
    • Consumables
    • Vaporizers
    • Accessories
  • Grow Guide
    • Climate Control
      • Cannabis Grow Lights
      • Grow Tent Fans
      • Carbon Air Filters
      • Grow Tent Heaters
      • Humidity Controllers
      • Co2 Regulators
  • Write for Us
No Result
View All Result
  • Home
  • Cannabis Strains
  • Cannabis Laws
    • State Marijuana Laws
    • International Marijuana Laws
  • Product Reviews
    • Consumables
    • Vaporizers
    • Accessories
  • Grow Guide
    • Climate Control
      • Cannabis Grow Lights
      • Grow Tent Fans
      • Carbon Air Filters
      • Grow Tent Heaters
      • Humidity Controllers
      • Co2 Regulators
  • Write for Us
No Result
View All Result
High Yields
No Result
View All Result
Home News

Arizona Recreational Marijuana Sales Hit A New Record In March, State Reports

Jeremy Vedder by Jeremy Vedder
May 16, 2022
in News
0

“The legalization of cannabis in Arizona has been a boon for our economy and the state tax coffers.”

By David Abbott, Arizona Mirror

READ ALSO

Give a Voice to Scientists in the Executive Suite

Woman, 51, dumped 16hr work days after cervical cancer returned and she developed arthritis is now a sex therapist who orgasms daily, puts cannabis in her vagina to ease her ailments

Medical marijuana sales in Arizona continued to slide in March, dropping for the fifth consecutive month as recreational adult-use cannabis sales soared to new heights.

The Arizona Department of Revenue also revised February sales upwards by several million dollars.

In March, medical marijuana dipped to below $50 million for the first time since recreational sales began in January 2021, registering just $49.4 million.

Medical sales peaked at nearly $73 million in March 2021, then fluctuated from the mid-$60 millions for the next six months. Since October, medical marijuana sales have dropped by at least $1.5 million every month.

Recreational sales have rebounded after a small lull in January 2022, going up at least $2 million per month in February and March, which totaled $72.3 million alone.

Total sales for both programs in March were $121.8 million.

State tax analysts also revised February sales: Estimated medical sales were adjusted upward by $1.2 million to $53.7 million, while adult-use cannabis sales clocked in at $2.3 million more than previously believed, landing at almost $71 million.

The revised total for all cannabis sales in February was $123.8 million.

Recreational sales have been rising consistently since March 2021, when sales hovered around $60 million.

Tax collections in March rose to $21.3 million, with $4.1 million from medical sales, $5.6 million in sales taxes for all cannabis sales and $11.9 from the 16 percent excise tax on recreational sales.

The state collects a 16 percent excise tax on recreational sales in addition to the 5.5 percent state sales tax. Medical marijuana patients pay just the sales tax. Cannabis users also pay city and county sales taxes.

Tax collections for cannabis sales in Arizona have steadily increased throughout the first year of legal recreational sales, and legislative budget analysts released a report in March showing that cannabis taxes have surpassed alcohol and tobacco taxes for the first time.

“The legalization of cannabis in Arizona has been a boon for our economy and the state tax coffers,” Arizona Dispensary Association Executive Director Sam Richard said. “The financial benefits are important but the social impact cannot be understated, as citizens no longer have to live in fear of having their lives disrupted by low level marijuana arrests and convictions.”

According to the Joint Legislative Budget Committee, marijuana taxes in March totaled more than the state’s tobacco and liquor taxes combined: Tobacco taxes yielded $1.7 million and the liquor tax added $3.7 million to the state’s general fund. But marijuana sales taxes were $6.3 million, with $4.7 million going to the general fund, $1 million distributed to counties and $631,124 to cities.

The JLBC report does not include education, city and county taxes—local jurisdictions charge an additional 2 percent or so for all marijuana sales—nor the excise tax on recreational sales, as the excise tax is distributed to specific programs outlined in Proposition 207.

Prop. 207, approved by voters in 2020, legalized adult use of cannabis and specified public use for the excise tax.

One-third is dedicated to community and provisional community college districts; 31 percent to public safety—police, fire departments, fire districts, first responders—25 percent to the Arizona Highway User Revenue Fund, and 10 percent to the justice reinvestment fund, dedicated to providing public health services, counseling, job training and other social services for communities that have been adversely affected and disproportionately impacted by marijuana arrests and criminalization.

This story was first published by Arizona Mirror.

FDA Warns About Marijuana-Infused Copycat Foods Leading To Accidental THC Consumption

Marijuana Moment is made possible with support from readers. If you rely on our cannabis advocacy journalism to stay informed, please consider a monthly Patreon pledge.

[Original Source]

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0

Related Posts

News

Give a Voice to Scientists in the Executive Suite

June 24, 2022
News

Woman, 51, dumped 16hr work days after cervical cancer returned and she developed arthritis is now a sex therapist who orgasms daily, puts cannabis in her vagina to ease her ailments

June 23, 2022
News

NBA champions gifted cannabis goodie bags

June 23, 2022
News

From The Earth nabs attorney fees in license fight with LA suburb

June 23, 2022
News

California’s Prop. 65 – The law consumers may ignore, but cannabis businesses shouldn’t

June 23, 2022
News

Juul’s checkered e-cigarette journey cut short by FDA ban

June 23, 2022
Next Post

Endexx Announces Fiscal Second Quarter 2022

  • Trending
  • Comments
  • Latest
Our 2022 Review: The Best of Plain Jane CBD

Our 2022 Review: The Best of Plain Jane CBD

June 17, 2022
The Ultimate Dr. Dabber Stella Vaporizer Review for 2022

The Ultimate Dr. Dabber Stella Vaporizer Review for 2022

June 6, 2022
volcano hybrid review 2022

The 2022 Volcano Hybrid Vaporizer Review: All You Need To Know

June 9, 2022
The Utillian 5 v3 Wax Pen Review for 2022

The Utillian 5 v3 Wax Pen Review for 2022

March 27, 2022

The 7 Best Smell-Proof Weed Bags To Keep Your Bud Stash Safe

June 16, 2022
The Best Synthetic Urine Kit to Pass Your Drug Test in 2022

The Best Synthetic Urine Kit to Pass Your Drug Test in 2022

May 23, 2022
MMJRecs - cannabis leaf

How Medical Marijuana Can Help Treat Sleep Disorders

0

Elon Musk Thinks CBD Is ‘Fake,’ But Joe Rogan Teaches Him A Lesson

0
Ice Cube Launches Own Cannabis Line Called “Fryday Kush”

Ice Cube Launches Own Cannabis Line Called “Fryday Kush”

0

Hashish and The Hermetic Brotherhood of Luxor

0

Give a Voice to Scientists in the Executive Suite

June 24, 2022

Woman, 51, dumped 16hr work days after cervical cancer returned and she developed arthritis is now a sex therapist who orgasms daily, puts cannabis in her vagina to ease her ailments

June 23, 2022

NBA champions gifted cannabis goodie bags

June 23, 2022

From The Earth nabs attorney fees in license fight with LA suburb

June 23, 2022

Recent Posts

  • Give a Voice to Scientists in the Executive Suite
  • Woman, 51, dumped 16hr work days after cervical cancer returned and she developed arthritis is now a sex therapist who orgasms daily, puts cannabis in her vagina to ease her ailments
  • NBA champions gifted cannabis goodie bags
  • From The Earth nabs attorney fees in license fight with LA suburb

QR Code

Arizona Recreational Marijuana Sales Hit A New Record In March, State Reports
No Result
View All Result
  • Homepages
    • Home Page 1
  • News

© 2021 High Yields