Licensed marijuana stores in Arizona sold nearly $100 million worth of product in May.
According to the Arizona Department of Revenue, the state made $24,482,049 in tax revenue from $97 million in marijuana sales. This is roughly the same as the $24,586,563 in taxes garnered in April, but noticeably less than the $28,423,424 sold in May 2023, which remains the single-month record.
Recreational consumers accounted for 78% of the total marijuana sales in May ($76.4 million), while medical marijuana sales made up the remainder ($20.6 million).
The yearly total for marijuana tax revenue in Arizona is now $122,331,222. The state generated $252,872,787 in total tax revenue for 2023.
Since the start of legal marijuana sales in 2021, the total amount of marijuana taxes collected stands at $879,802,510.
In Arizona, marijuana was legalized in 2020 through a citizen’s initiative. The law permits individuals aged 21 and older to purchase and possess up to an ounce of marijuana and up to five grams of marijuana concentrates. The state imposes a transaction privilege tax of 5.6% on both medical and recreational marijuana, with an additional excise tax of 16% on recreational sales.
For more detailed information on marijuana sales and tax revenue, the Arizona Department of Revenue provides updates and data on its website.
