In New Mexico legal recreational marijuana sales began a little over a year ago on April 1, 2022. Since then sales have surpassed half a billion dollars.
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According to data released by the New Mexico Regulation & Licensing Department, those 21 and older purchased $488 million worth of marijuana and marijuana products between April 1, 2022 and March 31, 2023. A spokesperson for the department tells us that sales for April are expected to be over $40 million, meaning marijuana sales have officially passed the $500 million mark.
With April not yet finished and data for the final days not yet tabulated, it’s not yet known if April will be able to top the $47 million sold in March, which was a new monthly record. Marijuana sales in April, 2022 were $39.5 million.
According to the department, there are around 650 marijuana outlets throughout the state, which has a population of 2.1 million (the 36th most populated state in the US).
In New Mexico those 21 and older are allowed to possess up to two ounces of marijuana, which they can purchase from licensed marijuana retail outlets. Consumers can also purchase and possess up to 16 grams of marijuana extract and 800mg of marijuana-infused edibles such as food products and tinctures. The personal cultivation of up to six marijuana plants is also allowed at private residences.
Under the state’s marijuana law marijuana products are taxed at roughly 5% at the point of sale. Recreational marijuana sales have an additional tax of 12%, with medical marijuana patients being exempt.
