Montana marijuana sales total $22.6M in January
Marijuana Industry NewsMedical MarijuanaMontanaRecreational Marijuana February 3, 2022 MJ Shareholders 0
Montana marijuana businesses sold $22.5 million in cannabis products in January, the first month recreational marijuana sales were legal in the state, the Department of Revenue reported Tuesday.
Recreational sales totaled nearly $12.9 million in January while medical sales totaled nearly $9.8 million, the agency said.
The sales brought in an estimated $2.9 million in taxes for the state. Recreational marijuana is taxed at 20% while medical marijuana products are taxed at a 4% rate.
Montana voters approved recreational marijuana use for adults 21 and older in November 2020. The 2021 Legislature passed a bill to implement the program beginning on Jan. 1, allowing adults to buy and possess an ounce of cannabis, up to 8 grams of concentrate or edibles containing up to 800 mg of THC — the main psychoactive compound in cannabis.
Adult-use marijuana businesses are not allowed in counties whose voters rejected the recreational marijuana ballot measure, unless they hold another special election where adult use is approved.
MJ Shareholders
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers
No comments so far.
Be first to leave comment below.