Maine Marijuana Sales Top $20 Million in September, Price Per Gram Declines to New Low

After four straight months of record-breaking marijuana sales, September saw a slight dip from August, but still surpassed $20 million.

There was $20,347,890 worth of marijuana sold legally in September, according to data released by the Maine’s Office of Cannabis Policy. This is a slight, albeit noticeable, decrease from the $21,648,253 sold in August. but is on par with the $20.8 million sold in July and the $20 million sold in June.

There were 357,460 different marijuana transactions in September, around 20,000 less than in August. The average price per gram of dried marijuana in September reached an all-time low of $7.71, a $0.12 decrease from the average in August.

The year-to-date total for marijuana sales in Maine is now $160,917,270, spread out over 2,776,939 different transactions.

In Maine marijuana was legalized in 2016 through the passage of a citizens initiative. The law allows those who are 21 and older to possess up to 2.5 ounces and grow up to six plants. However, due to legislative delays the first licensed marijuana store didn’t open until October, 2020.

Under Maine’s marijuana law marijuana receives a 5.5% general sales tax on retail sales, with edibles taxed at 8%.

You can find more sales data for Maine’s legal marijuana industry by clicking here.

In August Maine Governor Jane Mills signed into law legislation that allows licensed marijuana businesses to take tax deductions equivalent to what they would get under federal law if marijuana wasn’t federally illegal. The move is seen as at least a partial remedy to Internal Revenue Service (IRS) code 280E, which explicitly prohibits businesses from taking tax deductions if they’re federally illegal, even if they’re legal under state law.

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