Michiganders Bought $3.3 Million Worth Of Marijuana In First Two Weeks Of Legalization

During the first two weeks of December, residents bought more than $3 million worth of marijuana at recreational retailers, which provided $515,051 in tax revenues, the state said Tuesday.

The second week of sales totaled $1.47 million and resulted in $147,371 in excise tax revenue and $97,265 in sales tax revenue, the Marijuana Regulatory Agency said.

In total, the state has seen $310,271 in excise tax revenue since recreational sales started December 1 and $204,779 in sales tax revenue.

On Tuesday, the state also approved four more adult-use licenses, bringing the statewide total to 33.

The state granted three more licenses for retail locations in Negaunee, Bay City and Ann Arbor. It also approved a license for a secure transporter in Grass Lake.

This story was published in Gongwer News Service.

Image by SeaweedJeezus from Pixabay

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisNewsCommoditiesMarketsGeneralcannabis industrymarijuana salesmichiganMITECHNEWS.COM
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.