There was another $120 million in legal marijuana sales in Missouri in June, bringing the yearly total to around $700 million.
In June, there was $120.9 million worth of legal marijuana sold, a slight decrease from the $123.7 million sold in May and nearly identical to the $121 million sold in June 2023.
Cumulative sales have reached $2.66 billion, with the total for the first half of 2024 standing at approximately $696 million.
In 2023 there was $1.3 billion in legal marijuana sales, generating over $100 million in tax revenue for the state.
Missouri voters legalized recreational marijuana in 2022, with stores opening in February 2023. The law allows adults 21 and older to possess up to three ounces of marijuana and cultivate up to six plants for personal use. The state’s medical marijuana law was approved by voters in 2018, with the first dispensaries opening in October 2020.
Recreational marijuana in Missouri is taxed at 6%, in addition to the state’s 4.2% sales tax. Medical marijuana is exempt from the 6% tax but not the sales tax. Local governments can also impose a citywide tax of up to 3%.
Once the cost of running the state’s legal marijuana program is covered, tax revenue is distributed as follows:
- 1/3rd to the Missouri Veterans Commission and its allied state agencies.
- 1/3rd for grants given to nonprofit drug addiction treatment centers.
- 1/3rd to the Missouri public defenders system and is reserved for low-income Missouri residents.
In April’s primary election, Dent County and the cities of Desloge, Cool Valley, Fenton, Marthasville, Pagedale, Velda City and Winchester voted to pass ordinances to implement a 3% marijuana tax.
More articles from The Marijuana Herald can be found below.
