Arizona: Record-Breaking $28 Million in Marijuana Taxes Made in May, $125 Million Year-to-Date

In May Arizona garnered over $28 million in tax revenue from the legal distribution of marijuana and marijuana products.

In total Arizona made $28,423,424 in marijuana tax revenue in May. This marks the most marijuana tax revenue the state has made in a single month since the start of legal recreational marijuana sales in February, 2021.

The $28 million made in May is a significant increase from the $24.8 million made in April, the $23.4 million made in March and the $23.2 million made in February

Prior to this month the top month in terms of marijuana tax revenue garnered by the state was January of this year, with $25.1 million.

Arizona’s year-to-date for marijuana taxes is now $125,040,581. The total since February, 2021 is $589,689,340.

Voters in Arizona legalized marijuana via a ballot initiative in 2020, with marijuana stores opening the following year. The law allows those 21 and up to purchase and possess up to an ounce of marijuana. Both medical marijuana and recreational marijuana receive a transaction privilege tax of 5.6%, with the latter also receiving an excise tax of 16%.

More detailed marijuana sales and tax information can be found on the website for the Arizona Department of Revenue by clicking here.

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