Legal marijuana sales in Michigan saw a significant uptick from January to February, despite the month being two days shorter.
According to the Michigan Cannabis Regulatory Agency, there was $261,036,389 worth of marijuana and marijuana products sold legally in February. This is an over $18 million increase from the $242,812,694 sold in January, and an increase of $45 million compared to total sales for February, 2023.
Of the $261 million in sales, just $2,178,744 was sold to medical marijuana patients, with the remaining $258,857,645 sold to recreational consumers.
Despite February sales seeing a strong increase from the previous month, it fell short of the record-breaking $280 million sold in December.
Total recreational marijuana sales since the start of legal sales in December, 2019 now stands at around $7.3 billion, resulting in over $1.2 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 769 licensed marijuana retail outlets located throughout Michigan, seven more than the previous month. The total number of active licensed in the marijuana industry is 2,194.
The average cost per ounce of recreational marijuana in February was $91.94, a decrease from the $93.20 in January (which itself was a $2 decrease from December’s average).
In total Michigan garnered over $40 million in tax revenue from marijuana sales in February
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.
