Revenue from legal marijuana sales in Maine saw a slight drop from September to October, but so did the average price of marijuana.
According to Maine’s Office of Cannabis Policy, there was $18,998,932 in legal marijuana purchased in October. This is a decrease from the $20,347,890 sold in September.
There were 341,369 different marijuana transactions in October, around 16,000 less than in September. The average price per gram of dried marijuana in October reached an all-time low for the second straight month, dropping slightly from $7.71 a gram to $7.67.
The year-to-date total for marijuana sales in Maine is now $179,922,151, spread out over 3,118,426 different transactions. The average price per gram over the course of the full year is $7.84, $0.17 higher than the average for just October.
Under Maine’s marijuana law marijuana receives a 5.5% general sales tax on retail sales, with edibles taxed at 8%. Based on this Maine garnered around $1 million in marijuana tax revenue in October.
In Maine marijuana was legalized in 2016 via a voter-approved initiative. The law allows those who are 21 and older to possess up to 2.5 ounces and grow up to six plants. Due to legislative delays the first licensed marijuana store didn’t open until October, 2020.
You can find more sales data for Maine’s legal marijuana industry by clicking here.
