In the final quarter of 2023, legal marijuana states combined to make over $700 million in marijuana tax revenue, according to government data.
Data released by the US Census Bureau shows that among the states that currently allow it, licensed marijuana sales garnered $710 million in tax revenue during the final quarter of 2023, cover October 1 to December 31.
22 states plus the District of Columbia were included in this data. Minnesota allows marijuana sales, but stores aren’t expected to open until sometime next year. In Virginia, marijuana possession is legal, but not sales.
Among the legal marijuana states, in three of them marijuana tax revenue represented over 1% of the state’s total tax revenue; Washington (1.37%), Colorado (1.23%) and Montana (1.09%).
Connecticut by far saw the biggest increase in marijuana sales from Q3, 2023, to Q4, with an 150% increase. New York was second in terms of the largest increase at 49%, followed by Washington at 44% and Massachusetts at 16%.
The state with the largest decrease from Q3 to Q4 was Oregon at 21%, followed by Colorado at 9% and Missouri at 8.5%.
Tax revenue data was not included for the 14 states that have legalized medical marijuana, but do not currently allow recreational marijuana sales.
You can find more state-by-state marijuana sales data by clicking here.
