$1.8B In Marijuana Sales Marks A Historic Year For Massachusetts' Booming Cannabis Industry

In December, Massachusetts achieved a record in marijuana sales, reaching $158.7 million, contributing to the state's total 2023 cannabis sales of nearly $1.8 billion.

Adult-use marijuana sales dominated this figure, accounting for over 87% of the total, or about $1.57 billion. Medical marijuana sales added roughly $226 million for the year.

Notably, December's adult-use sales peaked at $140.0 million, while medical sales were about $18.6 million, reported Marijuana Moment.

Since the legalization of adult-use marijuana in late 2018, total sales have reached more than $5.54 billion, compared to $1.20 billion in medical marijuana.

Adult-use products are subject to a 10.75% excise tax, a 6.25% state sales tax, and up to a 3% municipal tax, unlike tax-exempt medical marijuana.

Massachusetts now generates more tax revenue from marijuana than alcohol. The state is also considering legalizing psychedelics.

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