Maine marijuana sales passed $200 million in 2023.
There was $19,310,089 worth of marijuana and marijuana products sold via licensed retail outlets in Maine in December, according to the state’s Office of Cannabis Policy. These sales were spread out among 338,983 transactions different transactions.
December sales bring the total marijuana sales for 2023 to $216.86 million.
The average price per gram of dried marijuana dropped to a new all-time low of $7.35, beating the previous low – set just last month – by $0.16.
The top month for marijuana sales in 2023 was August, with $21,648,253 worth of marijuana sold, and 377,050 different transactions.
Recreational marijuana was legalized in Maine during the 2016 election. The law allows those who are 21 and older to possess up to 2.5 ounces and grow up to six plants, which they can purchase from a licensed marijuana retail outlet. Due to legislative delays the first licensed marijuana store didn’t open until October, 2020.
Marijuana receives a 5.5% general sales tax, with an 8% excise tax placed on marijuana-infused edibles. Medical marijuana products are exempt from both taxes.
You can find more sales data for Maine’s legal marijuana industry by clicking here.
In August Maine Governor Janet Mills signed into law legislation that is seen as a partial remedy to Internal Revenue Service (IRS) code 280E, allowing marijuana businesses to take tax deductions equal to the amount they could take federally if they weren’t distributing a federally illegal substance.
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