There was over $240 million in legal marijuana sales in Michigan in January.
In total there was $242,812,694 worth of marijuana and marijuana products sold legally in January, according to the Michigan Cannabis Regulatory Agency. The vast majority of these sales, $240,289,360, were recreational marijuana sales, with just $2,523,333 sold to medical marijuana patients.
The total for January is a considerable drop from the record-breaking $280 million sold in December, but it’s significantly higher than the $207 million sold in January, 2023.
Total recreational marijuana sales since the start of legal sales in December, 2019 now stands at over $7.1 billion, resulting in over $1.1 billion in tax revenue. This is in addition to the $1.6 billion in medical marijuana sold during the same period.
According to the Cannabis Regulatory Agency there are currently 762 licensed marijuana retail outlets located throughout Michigan, 11 more than the previous month. The total number of active licensed in the marijuana industry is 2,190.
The average cost per ounce of recreational marijuana in November was $93.20, a nearly $2 decrease from December.
In total Michigan garnered $38.4 million in tax revenue from marijuana sales in January.
Michigan voters legalized marijuana in November, 2018, with the first licensed retail outlet open the following year. The law allows those 21 and older to possess up to 2.5 ounces of marijuana and up to 15 grams of marijuana concentrates. Recreational marijuana receives a 10% excise tax in addition to the state’s 6% sales tax.
