Monthly marijuana sales in New Mexico surpassed $50 million in May.
According to data released today by the New Mexico Regulation & Licensing Department, the state saw $51,200,880.26 in legal marijuana sales during May, spread across 1,212,097 transactions. This represents an increase of roughly $100,000 over total sales for April.
In May, recreational marijuana sales totaled $38,682,534.61, while medical marijuana sales reached $12,518,345.66. There were 958,361 recreational marijuana transactions and 253,736 medical marijuana transactions.
As of the end of May, New Mexico had 1,007 active marijuana retail licenses, four more than the previous month, and a total of 2,852 active marijuana business licenses, an increase of 10 from April. These business licenses encompass a diverse range of entities, including producers, micro producers, manufacturers, couriers, consumption areas, testing labs, and research labs.
Since legalization began in April 2022, total sales have reached $1,164,938,535.16 across 24,924,614 transactions. Recreational marijuana has been the major contributor, accounting for $794,897,514.10 of the total sales.
Albuquerque continues to lead the state in marijuana sales, followed by Santa Fe, Las Cruces, and Sunland Park.
In New Mexico, individuals aged 21 and older can legally purchase and possess up to two ounces of marijuana, 16 grams of marijuana extract, and 800mg of marijuana-infused edibles, according to legislation enacted in 2021. Marijuana is subject to an approximate 5% tax at the point of sale, in addition to a 12% excise tax that’s exclusive to recreational marijuana.
